Uber Technologies, Inc. (NYSE:UBER) Shares Acquired by Summit Financial LLC

Summit Financial LLC grew its position in Uber Technologies, Inc. (NYSE:UBER) by 26.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,033 shares of the ride-sharing company’s stock after purchasing an additional 3,984 shares during the period. Summit Financial LLC’s holdings in Uber Technologies were worth $1,383,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Financial Management Professionals Inc. lifted its position in Uber Technologies by 111.6% during the 1st quarter. Financial Management Professionals Inc. now owns 383 shares of the ride-sharing company’s stock worth $29,000 after acquiring an additional 202 shares in the last quarter. WR Wealth Planners LLC lifted its position in Uber Technologies by 563.9% during the 2nd quarter. WR Wealth Planners LLC now owns 405 shares of the ride-sharing company’s stock worth $29,000 after acquiring an additional 344 shares in the last quarter. J.Safra Asset Management Corp acquired a new position in Uber Technologies during the 1st quarter worth approximately $32,000. GW&K Investment Management LLC acquired a new position in Uber Technologies during the 4th quarter worth approximately $33,000. Finally, Founders Capital Management acquired a new position in Uber Technologies during the 2nd quarter worth approximately $33,000. 80.24% of the stock is owned by institutional investors and hedge funds.

Uber Technologies Trading Up 1.2 %

Shares of NYSE UBER opened at $73.13 on Monday. Uber Technologies, Inc. has a 12 month low of $40.09 and a 12 month high of $82.14. The company has a market cap of $152.81 billion, a price-to-earnings ratio of 117.95, a P/E/G ratio of 1.32 and a beta of 1.36. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.72. The business has a fifty day simple moving average of $69.50 and a 200-day simple moving average of $71.42.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings results on Tuesday, August 6th. The ride-sharing company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.16. The firm had revenue of $10.70 billion for the quarter, compared to analyst estimates of $10.57 billion. Uber Technologies had a return on equity of 17.06% and a net margin of 5.02%. Uber Technologies’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.18 earnings per share. Sell-side analysts predict that Uber Technologies, Inc. will post 1.05 EPS for the current year.

Analyst Ratings Changes

UBER has been the topic of a number of recent analyst reports. Melius initiated coverage on Uber Technologies in a research report on Monday, July 22nd. They issued a “hold” rating and a $77.00 target price on the stock. Loop Capital cut their target price on Uber Technologies from $88.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, May 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 target price on shares of Uber Technologies in a research report on Wednesday, August 7th. Oppenheimer reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Uber Technologies in a research report on Wednesday, June 5th. Finally, Truist Financial boosted their price target on Uber Technologies from $86.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $87.50.

Insider Activity at Uber Technologies

In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $71.91, for a total value of $35,955,000.00. Following the transaction, the chief executive officer now directly owns 1,266,114 shares of the company’s stock, valued at approximately $91,046,257.74. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Uber Technologies news, CEO Dara Khosrowshahi sold 500,000 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $71.91, for a total value of $35,955,000.00. Following the transaction, the chief executive officer now directly owns 1,266,114 shares of the company’s stock, valued at approximately $91,046,257.74. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Tony West sold 28,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $70.67, for a total value of $1,978,760.00. Following the completion of the transaction, the insider now directly owns 96,945 shares in the company, valued at $6,851,103.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 617,234 shares of company stock valued at $44,017,734. Company insiders own 3.84% of the company’s stock.

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.