Corton Capital Inc. Acquires New Holdings in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• Corton Capital Inc. has acquired a new stake in Uber Technologies, Inc., purchasing 4,090 shares valued at approximately $298,000, which represents about 1.0% of their portfolio.
• Recent analyst reports show strong bullish sentiments for Uber, with multiple firms raising their price targets, including Barclays and KeyCorp, with an average target price of $100.26.
• Insider activity has been notable, with top executives selling shares; Jill Hazelbaker sold over 34,884 shares for over $3 million, highlighting potential shifts in insider sentiment.

Corton Capital Inc. acquired a new stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,090 shares of the ride-sharing company's stock, valued at approximately $298,000. Uber Technologies makes up about 1.0% of Corton Capital Inc.'s portfolio, making the stock its 18th biggest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Transce3nd LLC bought a new position in shares of Uber Technologies in the fourth quarter valued at approximately $27,000. Fourth Dimension Wealth LLC bought a new position in shares of Uber Technologies in the fourth quarter valued at approximately $27,000. Kozak & Associates Inc. raised its position in shares of Uber Technologies by 155.9% in the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after purchasing an additional 223 shares during the period. Noble Wealth Management PBC bought a new position in shares of Uber Technologies in the first quarter valued at approximately $27,000. Finally, GPS Wealth Strategies Group LLC raised its position in shares of Uber Technologies by 305.1% in the first 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 period. Institutional investors own 80.24% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Barclays raised their price objective on shares of Uber Technologies from $86.00 to $97.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. KeyCorp raised their price objective on shares of Uber Technologies from $90.00 to $110.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Citigroup raised their price objective on shares of Uber Technologies from $92.00 to $102.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Stifel Nicolaus assumed coverage on shares of Uber Technologies in a research note on Wednesday, June 11th. They issued a "buy" rating and a $110.00 price objective on the stock. Finally, Wells Fargo & Company raised their price objective on shares of Uber Technologies from $100.00 to $120.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Ten equities research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $100.26.

Insider Activity

In related news, insider Jill Hazelbaker sold 34,884 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the transaction, the insider owned 102,135 shares in the company, valued at $8,786,674.05. This represents a 25.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $95.00, for a total transaction of $261,250.00. Following the transaction, the chief financial officer owned 21,975 shares in the company, valued at approximately $2,087,625. This trade represents a 11.12% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,384 shares of company stock worth $3,496,071. 3.84% of the stock is owned by corporate insiders.

Uber Technologies Stock Up 0.5%

Shares of NYSE UBER opened at $91.31 on Friday. The firm's 50-day simple moving average is $89.29 and its 200 day simple moving average is $79.61. The company has a market cap of $190.94 billion, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 1.05 and a beta of 1.40. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. Uber Technologies, Inc. has a 12-month low of $54.84 and a 12-month high of $97.71.

Uber Technologies (NYSE:UBER - Get Free Report) last issued 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. 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 27.07% and a return on equity of 66.46%. The firm's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.32) EPS. On average, research analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal 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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