Uber Technologies, Inc. $UBER Holdings Lifted by Summit Financial LLC

Summit Financial LLC increased its stake in Uber Technologies, Inc. (NYSE:UBER) by 57.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,793 shares of the ride-sharing company’s stock after acquiring an additional 13,022 shares during the period. Summit Financial LLC’s holdings in Uber Technologies were worth $2,608,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. 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. boosted its holdings 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 acquiring an additional 223 shares in the last quarter. Noble Wealth Management PBC bought a new position in shares of Uber Technologies in the first quarter valued at approximately $27,000. Vision Financial Markets LLC bought a new position in shares of Uber Technologies in the first quarter valued at approximately $27,000. Finally, GPS Wealth Strategies Group LLC boosted its holdings 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 acquiring an additional 299 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors.

Insider Activity at Uber Technologies

In other Uber Technologies news, SVP Nikki Krishnamurthy sold 11,571 shares of the stock in a transaction that occurred on 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 owned 416,222 shares in the company, valued at $38,184,206.28. This represents a 2.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $95.00, for a total transaction of $261,250.00. Following the completion of the sale, the chief financial officer owned 21,975 shares of the company’s stock, valued at approximately $2,087,625. The trade was a 11.12% decrease in their position. The disclosure for this sale can be found here. 3.84% of the stock is currently owned by corporate insiders.

Uber Technologies Stock Up 2.6%

Shares of NYSE:UBER opened at $96.7020 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $201.66 billion, a PE ratio of 16.47, a price-to-earnings-growth ratio of 1.08 and a beta of 1.43. Uber Technologies, Inc. has a 52 week low of $59.33 and a 52 week high of $97.71. The firm has a 50 day simple moving average of $91.08 and a 200 day simple moving average of $82.81.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. The business had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 EPS. As a group, research analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on UBER. Wall Street Zen cut shares of Uber Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Wells Fargo & Company decreased their price objective on shares of Uber Technologies from $120.00 to $119.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. Roth Capital increased their target price on shares of Uber Technologies from $93.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Needham & Company LLC increased their target price on shares of Uber Technologies from $100.00 to $109.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Finally, Susquehanna increased their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the company a “positive” rating in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, Uber Technologies has an average rating of “Moderate Buy” and a consensus target price of $102.82.

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.