Castleark Management LLC Takes Position in Uber Technologies, Inc. $UBER

Castleark Management LLC acquired a new stake in shares of Uber Technologies, Inc. (NYSE:UBER) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 92,080 shares of the ride-sharing company’s stock, valued at approximately $8,591,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of UBER. Vanguard Group Inc. lifted its stake in shares of Uber Technologies by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 189,551,519 shares of the ride-sharing company’s stock worth $17,685,157,000 after purchasing an additional 3,025,483 shares during the period. Geode Capital Management LLC lifted its position in Uber Technologies by 2.6% during the second quarter. Geode Capital Management LLC now owns 45,859,136 shares of the ride-sharing company’s stock worth $4,258,756,000 after buying an additional 1,168,288 shares during the period. Pershing Square Capital Management L.P. acquired a new stake in Uber Technologies in the 1st quarter worth about $2,207,743,000. Norges Bank purchased a new stake in Uber Technologies in the 2nd quarter valued at about $2,348,319,000. Finally, Kingstone Capital Partners Texas LLC grew its holdings in Uber Technologies by 334,075.7% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock valued at $1,863,545,000 after buying an additional 19,967,705 shares during the period. 80.24% of the stock is owned by hedge funds and other institutional investors.

Uber Technologies Stock Down 0.4%

Shares of NYSE UBER opened at $85.13 on Friday. The stock has a fifty day moving average price of $91.78 and a 200 day moving average price of $91.78. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37. Uber Technologies, Inc. has a 12-month low of $59.33 and a 12-month high of $101.99. The company has a market cap of $176.88 billion, a P/E ratio of 10.94 and a beta of 1.19.

Uber Technologies (NYSE:UBER) last issued its earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share for the quarter, topping the consensus estimate of $0.67 by $2.44. Uber Technologies had a return on equity of 68.17% and a net margin of 33.54%.The company had revenue of $13.47 billion during the quarter, compared to the consensus estimate of $13.25 billion. During the same quarter in the prior year, the business earned $1.20 earnings per share. The company’s revenue was up 20.4% compared to the same quarter last year. Research analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Sanford C. Bernstein increased their price objective on shares of Uber Technologies from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, November 5th. Erste Group Bank lowered shares of Uber Technologies from a “buy” rating to a “hold” rating in a report on Friday, December 5th. Needham & Company LLC restated a “buy” rating and set a $109.00 price objective on shares of Uber Technologies in a report on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $108.00 target price on shares of Uber Technologies in a research report on Wednesday, October 29th. Finally, DA Davidson boosted their price target on Uber Technologies from $102.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Uber Technologies currently has an average rating of “Moderate Buy” and an average price target of $108.60.

Insiders Place Their Bets

In other Uber Technologies news, CEO Dara Khosrowshahi sold 150,000 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $100.48, for a total value of $15,072,000.00. Following the completion of the sale, the chief executive officer owned 982,544 shares of the company’s stock, valued at $98,726,021.12. This trade represents a 13.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $94.41, for a total transaction of $519,255.00. Following the completion of the transaction, the chief financial officer owned 20,330 shares of the company’s stock, valued at $1,919,355.30. This trade represents a 21.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 267,625 shares of company stock worth $26,774,660 in the last 90 days. 3.84% of the stock is owned by company insiders.

Uber Technologies Company Profile

Uber Technologies, Inc develops and operates proprietary technology applications in the United States, Canada, Latin America, Europe, the Middle East, Africa, and Asia excluding China and Southeast Asia. It operates through three segments: Mobility, Delivery, and Freight. The Mobility segment connects consumers with a range of transportation modalities, such as ridesharing, carsharing, micromobility, rentals, public transit, taxis, and other modalities; and offers riders in a variety of vehicle types, as well as financial partnerships products and advertising services.