Castle Rock Wealth Management LLC Acquires 9,229 Shares of Uber Technologies, Inc. $UBER

Key Points

• Castle Rock Wealth Management LLC increased its stake in Uber Technologies, Inc. by 71.8%, acquiring an additional 9,229 shares to hold a total of 22,083 shares worth approximately $2,011,000.
• Several analysts provided varying ratings for Uber, with Canaccord Genuity maintaining a "hold" rating and BMO Capital Markets increasing their price target from $101.00 to $113.00, reflecting a consensus average price target of $104.03.
• Insider trading activity included CFO Prashanth Mahendra-Rajah selling 2,750 shares for about $273,405, contributing to a significant overall selling of over 601,821 shares by insiders in the last three months.

Castle Rock Wealth Management LLC boosted its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 71.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,083 shares of the ride-sharing company's stock after acquiring an additional 9,229 shares during the period. Castle Rock Wealth Management LLC's holdings in Uber Technologies were worth $2,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kozak & Associates Inc. boosted its holdings in shares of Uber Technologies by 155.9% in the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after buying an additional 223 shares in the last quarter. Noble Wealth Management PBC bought a new stake in shares of Uber Technologies in the 1st quarter valued at about $27,000. Vision Financial Markets LLC bought a new stake in shares of Uber Technologies in the 1st quarter valued at about $27,000. West Oak Capital LLC bought a new stake in shares of Uber Technologies in the 2nd quarter valued at about $28,000. Finally, GPS Wealth Strategies Group LLC raised its position in shares of Uber Technologies by 305.1% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock valued at $29,000 after purchasing an additional 299 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Canaccord Genuity Group reaffirmed a "hold" rating and issued a $84.00 price objective (down from $90.00) on shares of Uber Technologies in a research report on Friday, June 27th. BMO Capital Markets increased their price objective on shares of Uber Technologies from $101.00 to $113.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Uber Technologies in a research report on Saturday, September 27th. JPMorgan Chase & Co. lifted their target price on shares of Uber Technologies from $105.00 to $110.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Finally, Barclays reaffirmed an "overweight" rating and set a $110.00 target price (up from $97.00) on shares of Uber Technologies in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $104.03.

Insider Activity

In related news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $99.42, for a total transaction of $273,405.00. Following the sale, the chief financial officer directly owned 22,528 shares in the company, valued at approximately $2,239,733.76. This represents a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jill Hazelbaker sold 31,250 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the completion of the transaction, the insider owned 86,531 shares in the company, valued at $8,343,319.02. This represents a 26.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 601,821 shares of company stock valued at $58,659,491. 3.70% of the stock is owned by corporate insiders.

Uber Technologies Stock Down 2.2%

Shares of UBER opened at $97.87 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. The firm has a market cap of $204.10 billion, a P/E ratio of 16.67 and a beta of 1.48. The company's 50-day moving average price is $94.33 and its 200 day moving average price is $87.47. Uber Technologies, Inc. has a 12-month low of $59.33 and a 12-month high of $101.99.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. The company had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The business's revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 earnings per share. On average, sell-side analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Uber Technologies 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.

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