Summit Investment Advisors Inc. Sells 615 Shares of Uber Technologies, Inc. $UBER

Summit Investment Advisors Inc. decreased its position in Uber Technologies, Inc. (NYSE:UBER) by 3.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,096 shares of the ride-sharing company’s stock after selling 615 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Uber Technologies were worth $1,464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of UBER. Vanguard Group Inc. increased its position in Uber Technologies by 3.2% in the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company’s stock worth $13,590,287,000 after purchasing an additional 5,759,353 shares during the last quarter. Pershing Square Capital Management L.P. purchased a new position in shares of Uber Technologies in the 1st quarter worth $2,207,743,000. Kingstone Capital Partners Texas LLC grew its stake in shares of Uber Technologies by 334,075.7% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock worth $1,863,545,000 after buying an additional 19,967,705 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Uber Technologies by 3.9% in the 1st quarter. Northern Trust Corp now owns 19,240,638 shares of the ride-sharing company’s stock worth $1,401,873,000 after buying an additional 720,122 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Uber Technologies by 3.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,667,322 shares of the ride-sharing company’s stock valued at $995,801,000 after buying an additional 394,157 shares in the last quarter. 80.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Uber Technologies news, CEO Dara Khosrowshahi sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $100.48, for a total value of $15,072,000.00. Following the sale, the chief executive officer directly owned 982,544 shares of the company’s stock, valued at approximately $98,726,021.12. This trade represents a 13.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tony West sold 3,125 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $93.00, for a total value of $290,625.00. Following the completion of the sale, the insider owned 172,846 shares of the company’s stock, valued at $16,074,678. This trade represents a 1.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 604,946 shares of company stock worth $58,950,116. 3.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on UBER. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Uber Technologies in a research note on Wednesday, November 5th. Royal Bank Of Canada set a $110.00 price objective on shares of Uber Technologies in a research report on Wednesday, November 5th. Wells Fargo & Company dropped their price target on Uber Technologies from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Wedbush cut their price objective on shares of Uber Technologies from $85.00 to $84.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Uber Technologies in a research note on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $108.26.

Uber Technologies Stock Up 2.4%

Shares of UBER stock opened at $94.17 on Tuesday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37. The stock has a 50 day moving average of $95.47 and a 200 day moving average of $91.44. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $101.99. The stock has a market cap of $195.67 billion, a P/E ratio of 12.10 and a beta of 1.46.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Tuesday, November 4th. The ride-sharing company reported $3.11 EPS for the quarter, beating the consensus estimate of $0.67 by $2.44. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. The company had revenue of $13.47 billion for the quarter, compared to analyst estimates of $13.25 billion. During the same quarter last year, the business earned $1.20 earnings per share. The firm’s revenue was up 20.4% on a year-over-year basis. As a group, sell-side analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Uber Technologies Company 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.