Somerville Kurt F Has $4.16 Million Stock Position in Uber Technologies, Inc. $UBER

Somerville Kurt F increased its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 436.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,574 shares of the ride-sharing company’s stock after purchasing an additional 36,261 shares during the quarter. Somerville Kurt F’s holdings in Uber Technologies were worth $4,159,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Nova Wealth Management Inc. increased its position in shares of Uber Technologies by 41.0% during the 1st quarter. Nova Wealth Management Inc. now owns 430 shares of the ride-sharing company’s stock worth $31,000 after purchasing an additional 125 shares in the last quarter. Atticus Wealth Management LLC increased its position in Uber Technologies by 39.8% in the 2nd quarter. Atticus Wealth Management LLC now owns 446 shares of the ride-sharing company’s stock valued at $42,000 after acquiring an additional 127 shares in the last quarter. Grove Bank & Trust increased its position in Uber Technologies by 0.9% in the 1st quarter. Grove Bank & Trust now owns 14,139 shares of the ride-sharing company’s stock valued at $1,030,000 after acquiring an additional 133 shares in the last quarter. Forum Financial Management LP increased its position in Uber Technologies by 1.3% in the 1st quarter. Forum Financial Management LP now owns 10,956 shares of the ride-sharing company’s stock valued at $798,000 after acquiring an additional 136 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC increased its position in Uber Technologies by 42.1% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 466 shares of the ride-sharing company’s stock valued at $34,000 after acquiring an additional 138 shares in the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Canaccord Genuity Group restated a “hold” rating and issued a $84.00 price objective (down previously from $90.00) on shares of Uber Technologies in a research report on Friday, June 27th. Cantor Fitzgerald restated an “overweight” rating and issued a $106.00 price objective (up previously from $96.00) on shares of Uber Technologies in a research report on Wednesday, June 25th. Mizuho assumed coverage on shares of Uber Technologies in a research report on Monday, September 29th. They issued an “outperform” rating and a $130.00 price objective for the company. Roth Capital raised their price objective on shares of Uber Technologies from $93.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, July 14th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Uber Technologies in a research report on Saturday, September 27th. Two analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $104.03.

Uber Technologies Stock Down 2.2%

Shares of NYSE:UBER opened at $97.87 on Wednesday. Uber Technologies, Inc. has a one year low of $59.33 and a one year high of $101.99. The company has a 50 day moving average of $94.33 and a 200-day moving average of $87.47. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market cap of $204.10 billion, a price-to-earnings ratio of 16.67 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 EPS for the quarter, topping the consensus estimate of $0.61 by $0.02. The company had revenue of $12.65 billion during the quarter, compared to analysts’ expectations of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. Uber Technologies’s revenue was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.47 EPS. On average, sell-side analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Activity

In related news, insider Tony West sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $100.38, for a total transaction of $10,038,000.00. Following the completion of the transaction, the insider owned 171,558 shares in the company, valued at approximately $17,220,992.04. The trade was a 36.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jill Hazelbaker sold 31,250 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the transaction, the insider owned 86,531 shares of the company’s stock, valued at approximately $8,343,319.02. This represents a 26.53% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 601,821 shares of company stock valued at $58,659,491. 3.70% of the stock is currently owned by company insiders.

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.