Assenagon Asset Management S.A. Decreases Position in Uber Technologies, Inc. $UBER

Assenagon Asset Management S.A. lowered its position in Uber Technologies, Inc. (NYSE:UBER) by 53.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,383,636 shares of the ride-sharing company’s stock after selling 2,730,415 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Uber Technologies were worth $233,525,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Pershing Square Capital Management L.P. acquired a new stake in Uber Technologies in the 1st quarter valued at about $2,207,743,000. Norges Bank purchased a new stake in shares of Uber Technologies in the second quarter valued at about $2,348,319,000. Kingstone Capital Partners Texas LLC grew its position in shares of Uber Technologies by 334,075.7% in the second quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock valued at $1,863,545,000 after purchasing an additional 19,967,705 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Uber Technologies by 1.6% in the second quarter. Vanguard Group Inc. now owns 189,551,519 shares of the ride-sharing company’s stock valued at $17,685,157,000 after purchasing an additional 3,025,483 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of Uber Technologies by 105.9% during the 2nd quarter. Nordea Investment Management AB now owns 5,459,829 shares of the ride-sharing company’s stock worth $506,618,000 after purchasing an additional 2,807,967 shares in the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

Uber Technologies Stock Performance

Uber Technologies stock opened at $80.89 on Wednesday. The stock has a fifty day moving average price of $91.07 and a 200 day moving average price of $91.76. Uber Technologies, Inc. has a 52 week low of $59.33 and a 52 week high of $101.99. The firm has a market capitalization of $168.07 billion, a P/E ratio of 10.40 and a beta of 1.19. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.37.

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Guggenheim reduced their target price on Uber Technologies from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Piper Sandler set a $107.00 price target on Uber Technologies in a report on Wednesday, November 5th. Erste Group Bank lowered Uber Technologies from a “buy” rating to a “hold” rating in a research note on Friday, December 5th. DA Davidson lifted their price objective on Uber Technologies from $102.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Finally, Citigroup restated a “market perform” rating on shares of Uber Technologies in a report on Wednesday, December 10th. Two analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Uber Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.60.

Insider Buying and Selling

In related news, CEO Dara Khosrowshahi sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $100.48, for a total value of $15,072,000.00. Following the completion of the sale, the chief executive officer directly owned 982,544 shares in the company, valued at approximately $98,726,021.12. The trade was a 13.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 5,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $94.41, for a total transaction of $519,255.00. Following the transaction, the chief financial officer directly owned 20,330 shares of the company’s stock, valued at $1,919,355.30. This trade represents a 21.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 264,875 shares of company stock valued at $26,501,255. Insiders own 3.70% of the company’s stock.

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.