Uber (NYSE:UBER) Co-Founder Travis Kalanick’s CloudKitchens has raised funding from Microsoft (NASDAQ:MSFT) in November 2021, reports the Financial Times.
Kalanick’s new venture provides smart kitchens to restaurants that are delivery-only. According to Crunchbase, Cloud Kitchens has raised a total of $1.3 billion so far.
Separately, our Insider Trading tool shows the EVP and CFO of Microsoft, Amy Hood sold MSFT shares worth $19.5 million yesterday. This is after the CEO and Director of MSFT, Satya Nadella offloaded shares worth $14.69 million five days ago. These insider moves indicate a negative insider confidence signal in Microsoft.
What is a Good Buy Price for MSFT?
Despite the recent insider maneuvers, today, Tigress Financial’s Ivan Feinseth reiterated a Buy rating on Microsoft with a price target of $411. The consensus rating for the stock remains a Strong Buy and the average price target of $327.41 indicates a 27.72% potential upside in the stock.
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