Summit Financial LLC Sells 29,847 Shares of Uber Technologies, Inc. (NYSE:UBER)

Summit Financial LLC decreased its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 66.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,049 shares of the ride-sharing company's stock after selling 29,847 shares during the period. Summit Financial LLC's holdings in Uber Technologies were worth $1,159,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Covenant Asset Management LLC boosted its holdings in Uber Technologies by 0.3% during the first quarter. Covenant Asset Management LLC now owns 52,971 shares of the ride-sharing company's stock worth $4,078,000 after buying an additional 157 shares during the last quarter. Hilltop Holdings Inc. boosted its holdings in Uber Technologies by 2.9% during the fourth quarter. Hilltop Holdings Inc. now owns 5,634 shares of the ride-sharing company's stock worth $347,000 after buying an additional 157 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of Uber Technologies by 3.3% during the 1st quarter. Sivia Capital Partners LLC now owns 4,882 shares of the ride-sharing company's stock valued at $376,000 after purchasing an additional 157 shares in the last quarter. Drive Wealth Management LLC lifted its holdings in shares of Uber Technologies by 3.6% during the 4th quarter. Drive Wealth Management LLC now owns 4,691 shares of the ride-sharing company's stock valued at $289,000 after purchasing an additional 163 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC lifted its holdings in shares of Uber Technologies by 49.7% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 524 shares of the ride-sharing company's stock valued at $32,000 after purchasing an additional 174 shares in the last quarter. Institutional investors own 80.24% of the company's stock.

Insiders Place Their Bets

In other news, insider Tony West sold 18,750 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $65.63, for a total value of $1,230,562.50. Following the completion of the sale, the insider now owns 206,338 shares of the company's stock, valued at $13,541,962.94. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Dara Khosrowshahi sold 500,000 shares of the stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $65.93, for a total value of $32,965,000.00. Following the completion of the sale, the chief executive officer now owns 1,656,996 shares of the company's stock, valued at $109,245,746.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Tony West sold 18,750 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $65.63, for a total value of $1,230,562.50. Following the completion of the sale, the insider now directly owns 206,338 shares of the company's stock, valued at approximately $13,541,962.94. The disclosure for this sale can be found here. Insiders own 3.84% of the company's stock.

Uber Technologies Price Performance

Shares of Uber Technologies stock traded down $1.88 during trading on Thursday, reaching $63.61. 20,103,518 shares of the company's stock were exchanged, compared to its average volume of 20,415,545. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.21 and a current ratio of 1.21. Uber Technologies, Inc. has a 1-year low of $37.07 and a 1-year high of $82.14. The company has a market cap of $132.90 billion, a P/E ratio of 102.59, a PEG ratio of 1.35 and a beta of 1.39. The firm's 50-day moving average price is $71.86 and its 200 day moving average price is $67.37.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its earnings results on Wednesday, May 8th. The ride-sharing company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.53). Uber Technologies had a return on equity of 12.81% and a net margin of 3.60%. The firm had revenue of $10.13 billion during the quarter, compared to analyst estimates of $10.09 billion. During the same period in the previous year, the company earned ($0.08) EPS. Uber Technologies's revenue for the quarter was up 14.8% on a year-over-year basis. As a group, research analysts anticipate that Uber Technologies, Inc. will post 0.88 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on UBER shares. BTIG Research lifted their price objective on Uber Technologies from $80.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, February 22nd. Needham & Company LLC reissued a "buy" rating and issued a $90.00 target price on shares of Uber Technologies in a research report on Wednesday, May 8th. DA Davidson reissued a "buy" rating and issued a $81.00 target price on shares of Uber Technologies in a research report on Wednesday, May 8th. Gordon Haskett lowered Uber Technologies from a "buy" rating to a "hold" rating and set a $66.00 target price on the stock. in a research report on Wednesday, January 24th. Finally, TheStreet raised Uber Technologies from a "c" rating to a "b-" rating in a research report on Wednesday, February 7th. Two research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $84.38.

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.

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