Castleark Management LLC Cuts Stake in Uber Technologies, Inc. (NYSE:UBER)

Castleark Management LLC lessened its stake in shares of Uber Technologies, Inc. (NYSE:UBER) by 13.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 263,780 shares of the ride-sharing company’s stock after selling 40,490 shares during the period. Castleark Management LLC’s holdings in Uber Technologies were worth $15,911,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Capital Research Global Investors increased its stake in shares of Uber Technologies by 79.0% in the fourth quarter. Capital Research Global Investors now owns 118,131,681 shares of the ride-sharing company’s stock worth $7,125,728,000 after purchasing an additional 52,125,476 shares in the last quarter. Norges Bank bought a new position in Uber Technologies in the 4th quarter worth approximately $1,467,754,000. Jennison Associates LLC boosted its holdings in Uber Technologies by 36.9% in the 4th quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock worth $1,596,086,000 after buying an additional 7,137,512 shares during the period. Boston Partners purchased a new position in Uber Technologies in the 4th quarter valued at approximately $381,057,000. Finally, Toyota Motor Corp bought a new stake in Uber Technologies during the 4th quarter valued at $309,192,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Uber Technologies Stock Performance

NYSE UBER opened at $91.84 on Wednesday. The stock has a market capitalization of $192.05 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 0.89 and a beta of 1.43. The stock has a 50-day moving average of $77.21 and a 200 day moving average of $72.21. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. Uber Technologies, Inc. has a twelve month low of $54.84 and a twelve month high of $93.60.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.33. The business had revenue of $11.53 billion for the quarter, compared to the consensus estimate of $11.61 billion. Uber Technologies had a net margin of 22.41% and a return on equity of 62.60%. The company’s revenue was up 13.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.32) earnings per share. Sell-side analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity at Uber Technologies

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $206,250.00. Following the sale, the chief financial officer now directly owns 22,162 shares in the company, valued at approximately $1,662,150. The trade was a 11.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tony West sold 23,404 shares of Uber Technologies stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $70.27, for a total transaction of $1,644,599.08. Following the completion of the sale, the insider now owns 114,241 shares of the company’s stock, valued at $8,027,715.07. This trade represents a 17.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,788 shares of company stock valued at $6,517,070. Corporate insiders own 3.84% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. The Goldman Sachs Group boosted their price objective on shares of Uber Technologies from $96.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. TD Cowen reduced their price target on shares of Uber Technologies from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Evercore ISI decreased their price target on shares of Uber Technologies from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, February 6th. Truist Financial lifted their price objective on Uber Technologies from $90.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Finally, Wedbush cut Uber Technologies from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from $80.00 to $85.00 in a research report on Thursday, May 8th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $93.09.

About Uber Technologies

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.