Rockline Wealth Management LLC Increases Position in Uber Technologies, Inc. $UBER

Rockline Wealth Management LLC increased its holdings in Uber Technologies, Inc. (NYSE:UBER) by 39.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 31,991 shares of the ride-sharing company’s stock after buying an additional 9,043 shares during the period. Rockline Wealth Management LLC’s holdings in Uber Technologies were worth $3,134,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of UBER. Westend Capital Management LLC purchased a new stake in shares of Uber Technologies during the 3rd quarter valued at $27,000. Kilter Group LLC bought a new position in Uber Technologies during the second quarter valued at about $26,000. Trust Co. of Toledo NA OH purchased a new stake in Uber Technologies during the second quarter worth about $30,000. Total Investment Management Inc. purchased a new stake in Uber Technologies during the second quarter worth about $32,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in Uber Technologies in the third quarter worth about $34,000. 80.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on UBER. BTIG Research reissued a “buy” rating and set a $100.00 target price on shares of Uber Technologies in a research report on Thursday, January 15th. Barclays decreased their target price on Uber Technologies from $110.00 to $107.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Royal Bank Of Canada set a $110.00 price target on Uber Technologies in a research report on Wednesday, November 5th. Truist Financial increased their price target on Uber Technologies from $96.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Uber Technologies in a research note on Monday, December 29th. Four analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Uber Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $107.50.

Uber Technologies Stock Down 1.0%

Shares of NYSE UBER opened at $81.19 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.37. The company has a market cap of $168.70 billion, a P/E ratio of 10.44 and a beta of 1.20. Uber Technologies, Inc. has a 52 week low of $60.63 and a 52 week high of $101.99. The business has a 50-day simple moving average of $84.25 and a two-hundred day simple moving average of $90.46.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $2.44. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. The firm had revenue of $13.47 billion for the quarter, compared to the consensus estimate of $13.25 billion. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.20 earnings per share. Research analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Tony West sold 3,125 shares of the firm’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $83.50, for a total value of $260,937.50. Following the completion of the transaction, the insider directly owned 176,584 shares of the company’s stock, valued at $14,744,764. This trade represents a 1.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $94.41, for a total value of $519,255.00. Following the completion of the sale, the chief financial officer directly owned 20,330 shares in the company, valued at approximately $1,919,355.30. The trade was a 21.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 14,875 shares of company stock worth $1,319,130 over the last quarter. Corporate insiders own 3.70% of the company’s stock.

More Uber Technologies News

Here are the key news stories impacting Uber Technologies this week:

• Positive Sentiment: Major funding and partner move in AV space: Waabi, an autonomous-driving startup, raised large new capital (reports vary $750M–up to $1B) and announced a partnership with Uber to deploy as many as 25,000 robotaxis — a direct validation of Uber’s AV strategy and potential long-term revenue/market-share upside. Waabi raises up to $1 billion and partners with Uber to deploy 25,000 robotaxis as the race to dominate self-driving heats up Autonomous trucking startup Waabi raises $750 million to expand into robotaxis
• Positive Sentiment: Uber formalizes data/partner hub: the company launched “AV Labs” to gather driving data for its 20+ autonomous partners — this strengthens Uber’s role as a platform/provider to AV developers and could accelerate deployment and monetization of robotaxi services. Uber launches an ‘AV Labs’ division to gather driving data for robotaxi partners
• Positive Sentiment: Regulatory/legal ruling that may reduce labor costs: a Dutch court confirmed drivers are contractors (not employees), which supports Uber’s cost model and could limit labor-related liabilities in some jurisdictions. Uber Drivers Aren’t Employees but Contractors, Dutch Court Rules
• Neutral Sentiment: Earnings calendar and cautious analyst tone: Uber is expected to report quarterly results this week, while analysts advise “incremental caution” into the print — investors will be focused on margins, mobility demand and autonomous-service updates. Uber Technologies (UBER) Expected to Announce Earnings on Wednesday Riding Into Uber, Lyft Q4 Earnings With ‘Caution’
• Negative Sentiment: Shareholder investigation into board conduct: Berger Montague opened an inquiry into Uber’s board over potential breaches of fiduciary duty tied to rider safety and background checks — this raises governance/legal risk and could lead to litigation or reputational pressure. INVESTIGATION ALERT: Berger Montague PC Investigates Uber Technologies, Inc.’s Board of Directors for Breach of Fiduciary Duty
• Negative Sentiment: Ongoing legal exposure from rider safety case: Uber is denying liability in a sexual-assault trial, but the litigation spotlight keeps legal and reputational risk on the table for investors. Uber denies liability for drivers in sexual assault trial
• Negative Sentiment: Fund/performance criticism: a large-cap growth fund named Uber its worst performer, a datapoint that could feed short-term selling or cautious flows into the stock. Uber Technologies (UBER) was the worst performer: NewBridge Large Cap Growth Equity

Uber Technologies Company Profile

Uber Technologies, Inc is a technology company that operates a global platform connecting riders, drivers, couriers, restaurants and shippers. Founded in 2009 by Garrett Camp and Travis Kalanick and headquartered in San Francisco, Uber developed one of the first large-scale ride-hailing marketplaces and has since expanded into a broader set of mobility and logistics services. The company completed its initial public offering in 2019 and continues to position its app-based network as a multi-modal transportation and delivery platform.

Uber’s principal businesses include mobility services (ride-hailing and shared rides), delivery through Uber Eats, and freight logistics via Uber Freight.