Uber Technologies, Inc. $UBER Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its position in Uber Technologies, Inc. (NYSE:UBER) by 53.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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. owned approximately 0.11% of Uber Technologies worth $233,525,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Kilter Group LLC acquired a new stake in shares of Uber Technologies in the second quarter valued at approximately $26,000. West Oak Capital LLC purchased a new stake in Uber Technologies in the 2nd quarter valued at $28,000. Trust Co. of Toledo NA OH acquired a new stake in Uber Technologies during the 2nd quarter worth $30,000. Total Investment Management Inc. acquired a new stake in Uber Technologies during the 2nd quarter worth $32,000. Finally, Truvestments Capital LLC grew its position in Uber Technologies by 498.5% during the 1st quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company’s stock worth $30,000 after purchasing an additional 339 shares during the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Insider Transactions at Uber Technologies

In other news, insider Tony West sold 100,000 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $100.38, for a total value of $10,038,000.00. Following the completion of the transaction, the insider owned 171,558 shares in the company, valued at $17,220,992.04. This trade represents a 36.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Dara Khosrowshahi sold 150,000 shares of the firm’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $100.48, for a total transaction of $15,072,000.00. Following the completion of the sale, the chief executive officer owned 982,544 shares of the company’s stock, valued at $98,726,021.12. This trade represents a 13.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 264,875 shares of company stock valued at $26,501,255 in the last ninety days. 3.70% of the stock is currently owned by company insiders.

Uber Technologies Stock Down 1.2%

UBER opened at $80.89 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.15 and a quick ratio of 1.15. Uber Technologies, Inc. has a 12 month low of $59.33 and a 12 month high of $101.99. The stock has a market capitalization of $168.07 billion, a P/E ratio of 10.40 and a beta of 1.19. The business has a 50 day simple moving average of $91.07 and a 200-day simple moving average of $91.76.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus set a $122.00 target price on shares of Uber Technologies in a report on Tuesday, November 4th. Wells Fargo & Company reduced their price objective on Uber Technologies from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. UBS Group set a $122.00 target price on Uber Technologies and gave the company a “buy” rating in a research note on Wednesday, November 5th. BMO Capital Markets dropped their target price on Uber Technologies from $113.00 to $106.00 and set an “outperform” rating on the stock in a report on Wednesday, November 5th. Finally, Morgan Stanley decreased their price target on Uber Technologies from $115.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, December 8th. Two research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $108.60.

Uber Technologies 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.