Castleark Management LLC Reduces Stock Holdings in Uber Technologies, Inc. (NYSE:UBER)

Castleark Management LLC reduced its position in Uber Technologies, Inc. (NYSE:UBER) by 13.3% in the 4th quarter, according to its most recent 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its holdings in Uber Technologies by 8.9% in the 4th quarter. Allworth Financial LP now owns 20,381 shares of the ride-sharing company’s stock valued at $1,229,000 after purchasing an additional 1,663 shares in the last quarter. Lecap Asset Management Ltd. acquired a new position in shares of Uber Technologies in the fourth quarter worth $3,188,000. Clark Capital Management Group Inc. boosted its position in Uber Technologies by 11,354.8% during the fourth quarter. Clark Capital Management Group Inc. now owns 402,522 shares of the ride-sharing company’s stock worth $24,280,000 after acquiring an additional 399,008 shares during the last quarter. Baader Bank Aktiengesellschaft grew its holdings in Uber Technologies by 1,705.2% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 56,592 shares of the ride-sharing company’s stock valued at $3,414,000 after buying an additional 53,457 shares during the period. Finally, Greenwood Capital Associates LLC grew its stake in shares of Uber Technologies by 6.4% during the 4th quarter. Greenwood Capital Associates LLC now owns 84,658 shares of the ride-sharing company’s stock valued at $5,107,000 after buying an additional 5,095 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on UBER. Wells Fargo & Company increased their price target on Uber Technologies from $90.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, May 8th. UBS Group increased their target price on Uber Technologies from $103.00 to $107.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Barclays boosted their price objective on shares of Uber Technologies from $86.00 to $97.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. TD Cowen dropped their target price on Uber Technologies from $90.00 to $88.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $87.00 price target (up previously from $80.00) on shares of Uber Technologies in a report on Tuesday, February 18th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Uber Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $93.09.

Uber Technologies Stock Down 0.7%

Shares of NYSE UBER opened at $91.84 on Wednesday. The stock’s fifty day moving average is $77.21 and its 200 day moving average is $72.21. Uber Technologies, Inc. has a 52 week low of $54.84 and a 52 week high of $93.60. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07. The stock has a market capitalization of $192.05 billion, a P/E ratio of 20.14, a PEG ratio of 0.89 and a beta of 1.43.

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

Insider Buying and Selling at Uber Technologies

In other news, insider Tony West sold 23,404 shares of the stock in a transaction dated 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 transaction, the insider now owns 114,241 shares of the company’s stock, valued at $8,027,715.07. This represents a 17.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jill Hazelbaker sold 34,884 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $86.03, for a total value of $3,001,070.52. Following the sale, the insider now owns 102,135 shares of the company’s stock, valued at approximately $8,786,674.05. This represents a 25.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 83,788 shares of company stock worth $6,517,070. Insiders own 3.84% of the company’s stock.

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.