Coastline Trust Co Has $3.46 Million Holdings in Uber Technologies, Inc. $UBER

Key Points

• Coastline Trust Co increased its holdings in Uber Technologies by 33.5% in the 2nd quarter, now owning 37,043 shares valued at approximately $3.46 million.
• Wall Street analysts have generally upgraded their price targets for Uber, with Barclays setting a new price objective of $110.00, reflecting strong confidence in the company's stock.
• Uber reported a quarterly EPS of $0.63, surpassing analysts' estimates and reflecting an 18.2% year-over-year revenue growth to $12.65 billion.

Coastline Trust Co lifted its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 33.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,043 shares of the ride-sharing company's stock after acquiring an additional 9,290 shares during the quarter. Coastline Trust Co's holdings in Uber Technologies were worth $3,456,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of UBER. West Oak Capital LLC acquired a new position in Uber Technologies during the 2nd quarter worth $28,000. Noble Wealth Management PBC acquired a new position in Uber Technologies during the 1st quarter worth $27,000. Kozak & Associates Inc. lifted its holdings in Uber Technologies by 155.9% during the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after buying an additional 223 shares in the last quarter. Vision Financial Markets LLC acquired a new position in Uber Technologies during the 1st quarter worth $27,000. Finally, GPS Wealth Strategies Group LLC lifted its holdings in Uber Technologies by 305.1% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock worth $29,000 after buying an additional 299 shares in the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on UBER. Barclays reaffirmed an "overweight" rating and set a $110.00 price objective (up previously from $97.00) on shares of Uber Technologies in a report on Thursday, August 7th. KeyCorp upped their price objective on Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Piper Sandler upped their target price on shares of Uber Technologies from $95.00 to $103.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Cowen reiterated a "buy" rating on shares of Uber Technologies in a research report on Thursday, August 7th. Finally, Bank of America upped their target price on shares of Uber Technologies from $97.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $103.30.

Uber Technologies Price Performance

UBER stock opened at $98.37 on Friday. The stock has a 50-day moving average price of $93.29 and a two-hundred day moving average price of $86.24. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $101.99. 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 stock has a market cap of $205.14 billion, a PE ratio of 16.76 and a beta of 1.43.

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

Insiders Place Their Bets

In related news, SVP Nikki Krishnamurthy sold 11,571 shares of the firm's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $91.74, for a total value of $1,061,523.54. Following the completion of the sale, the senior vice president directly owned 416,222 shares in the company, valued at approximately $38,184,206.28. This trade represents a 2.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Dara Khosrowshahi sold 150,000 shares of the firm's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $100.48, for a total transaction 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 disclosure for this sale can be found here. Insiders sold a total of 604,571 shares of company stock worth $58,920,741 in the last three months. 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.

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