Allianz SE Has $8.69 Million Stock Position in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• Allianz SE reduced its position in Uber Technologies by 20.3% in the first quarter, now holding 119,231 shares worth approximately $8.7 million after selling 30,341 shares.
• Insider selling included Jill Hazelbaker who sold 34,884 shares valued at $3 million, and CFO Prashanth Mahendra-Rajah who sold 2,750 shares for $261,250, indicating a downward trend in insider holding.
• Shares of Uber opened at $86.98, with a twelve-month range of $54.84 to $97.71, reflecting recent market fluctuations and a market cap of approximately $181.89 billion.

Allianz SE trimmed its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 20.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 119,231 shares of the ride-sharing company's stock after selling 30,341 shares during the period. Allianz SE's holdings in Uber Technologies were worth $8,687,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in UBER. Clark Capital Management Group Inc. lifted its holdings in Uber Technologies by 11,354.8% during the 4th quarter. Clark Capital Management Group Inc. now owns 402,522 shares of the ride-sharing company's stock worth $24,280,000 after purchasing an additional 399,008 shares during the last quarter. UMB Bank n.a. increased its stake in Uber Technologies by 33.6% during the 1st quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company's stock worth $890,000 after acquiring an additional 3,073 shares during the period. Revolve Wealth Partners LLC increased its stake in Uber Technologies by 65.0% during the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock worth $939,000 after acquiring an additional 6,129 shares during the period. Mufg Securities Americas Inc. bought a new position in Uber Technologies during the 4th quarter worth $1,875,000. Finally, APG Asset Management N.V. bought a new position in Uber Technologies during the 4th quarter worth $84,687,000. 80.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

UBER has been the topic of a number of recent research reports. Sanford C. Bernstein raised their price objective on Uber Technologies from $95.00 to $110.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. The Goldman Sachs Group raised their price objective on Uber Technologies from $96.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Stifel Nicolaus raised their price objective on Uber Technologies from $110.00 to $117.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Piper Sandler raised their price objective on Uber Technologies from $95.00 to $103.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Finally, TD Cowen lowered their price objective on Uber Technologies from $90.00 to $88.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Ten equities research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $100.71.

Uber Technologies Trading Up 1.9%

Shares of UBER stock traded up $1.65 on Monday, hitting $88.56. The company had a trading volume of 15,068,075 shares, compared to its average volume of 17,033,008. The firm has a market cap of $185.20 billion, a P/E ratio of 15.51, a P/E/G ratio of 1.00 and a beta of 1.43. The stock's 50-day moving average is $89.12 and its two-hundred day moving average is $80.47. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.02 and a current ratio of 1.02. Uber Technologies, Inc. has a twelve month low of $54.84 and a twelve month high of $97.71.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.33. The company had revenue of $11.53 billion during the quarter, compared to analysts' expectations of $11.61 billion. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. The business's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.32) earnings per share. On average, equities research analysts anticipate that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the business's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $95.00, for a total value of $261,250.00. Following the transaction, the chief financial officer directly owned 21,975 shares of the company's stock, valued at $2,087,625. The trade was a 11.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jill Hazelbaker sold 34,884 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $86.03, for a total value of $3,001,070.52. Following the completion of the transaction, the insider directly owned 102,135 shares in the company, valued at $8,786,674.05. This represents a 25.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company's stock.

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.