Summa Corp. Boosts Stake in Uber Technologies, Inc. $UBER

Summa Corp. raised its holdings in Uber Technologies, Inc. (NYSE:UBER) by 0.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,307 shares of the ride-sharing company’s stock after purchasing an additional 200 shares during the quarter. Uber Technologies accounts for 1.2% of Summa Corp.’s holdings, making the stock its 12th largest holding. Summa Corp.’s holdings in Uber Technologies were worth $2,361,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in UBER. Brighton Jones LLC raised its position in Uber Technologies by 3.4% in the fourth quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company’s stock valued at $4,491,000 after purchasing an additional 2,474 shares during the period. Revolve Wealth Partners LLC raised its position in Uber Technologies by 65.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company’s stock valued at $939,000 after purchasing an additional 6,129 shares during the period. Bison Wealth LLC raised its position in Uber Technologies by 20.3% in the fourth quarter. Bison Wealth LLC now owns 3,792 shares of the ride-sharing company’s stock valued at $229,000 after purchasing an additional 641 shares during the period. GAMMA Investing LLC raised its holdings in shares of Uber Technologies by 319.6% in the 1st quarter. GAMMA Investing LLC now owns 22,753 shares of the ride-sharing company’s stock valued at $1,658,000 after buying an additional 17,330 shares during the period. Finally, Focus Financial Network Inc. purchased a new stake in shares of Uber Technologies in the 1st quarter valued at $210,000. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on UBER. Canaccord Genuity Group reiterated a “hold” rating and issued a $84.00 price objective (down previously from $90.00) on shares of Uber Technologies in a report on Friday, June 27th. Wells Fargo & Company cut their price objective on Uber Technologies from $127.00 to $125.00 and set an “overweight” rating on the stock in a report on Friday, October 3rd. Mizuho began coverage on Uber Technologies in a report on Monday, September 29th. They issued an “outperform” rating and a $130.00 price objective on the stock. Stifel Nicolaus boosted their price objective on Uber Technologies from $110.00 to $117.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Finally, Barclays reiterated an “overweight” rating and issued a $110.00 price objective (up previously from $97.00) on shares of Uber Technologies in a report on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.03.

Insider Buying and Selling at Uber Technologies

In other news, SVP Nikki Krishnamurthy sold 11,571 shares of the company’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the completion of the transaction, the senior vice president directly owned 416,222 shares of the company’s stock, valued at approximately $38,184,206.28. This represents a 2.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jill Hazelbaker sold 31,250 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $96.42, for a total value of $3,013,125.00. Following the transaction, the insider directly owned 86,531 shares of the company’s stock, valued at approximately $8,343,319.02. This represents a 26.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 601,821 shares of company stock worth $58,659,491. Corporate insiders own 3.84% of the company’s stock.

Uber Technologies Price Performance

Shares of NYSE UBER opened at $93.52 on Friday. The stock’s 50-day moving average is $94.86 and its two-hundred day moving average is $87.91. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. Uber Technologies, Inc. has a 1-year low of $59.33 and a 1-year high of $101.99. The company has a market cap of $195.03 billion, a price-to-earnings ratio of 15.93 and a beta of 1.48.

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

About Uber Technologies

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.