Assenagon Asset Management S.A. Buys 2,414,429 Shares of Uber Technologies, Inc. $UBER

Key Points

• Assenagon Asset Management S.A. increased its stake in Uber Technologies by 89.4%, purchasing an additional 2,414,429 shares, which brings its total holdings to over 5 million shares valued at approximately $477 million.
• Insider trading activity included CFO Prashanth Mahendra-Rajah selling 2,750 shares and CEO Dara Khosrowshahi selling 300,000 shares, marking significant decreases in their ownership.
• Uber's Q2 earnings surpassed analyst expectations, reporting $0.63 EPS and revenues of $12.65 billion, indicating an 18.2% year-over-year revenue growth.

Assenagon Asset Management S.A. raised its holdings in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 89.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,114,051 shares of the ride-sharing company's stock after acquiring an additional 2,414,429 shares during the quarter. Uber Technologies makes up 0.7% of Assenagon Asset Management S.A.'s investment portfolio, making the stock its 24th largest holding. Assenagon Asset Management S.A. owned 0.24% of Uber Technologies worth $477,141,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in UBER. Fourth Dimension Wealth LLC bought a new stake in shares of Uber Technologies in the 4th quarter valued at approximately $27,000. Kozak & Associates Inc. grew its stake in shares of Uber Technologies by 155.9% in the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after buying an additional 223 shares in the last quarter. Noble Wealth Management PBC bought a new stake in shares of Uber Technologies in the 1st quarter valued at approximately $27,000. Vision Financial Markets LLC bought a new stake in shares of Uber Technologies in the 1st quarter valued at approximately $27,000. Finally, GPS Wealth Strategies Group LLC grew its stake in shares of Uber Technologies by 305.1% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company's stock valued at $29,000 after buying an additional 299 shares in the last quarter. Institutional investors own 80.24% of the company's stock.

Insider Activity at Uber Technologies

In other news, CEO Dara Khosrowshahi sold 300,000 shares of the company's stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $95.37, for a total transaction of $28,611,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,132,544 shares in the company, valued at $108,010,721.28. The trade was a 20.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tony West sold 3,125 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $95.00, for a total value of $296,875.00. Following the transaction, the insider owned 170,269 shares of the company's stock, valued at approximately $16,175,555. This trade represents a 1.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 354,571 shares of company stock valued at $33,810,741. 3.84% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Cowen reissued a "buy" rating on shares of Uber Technologies in a research note on Thursday, August 7th. UBS Group boosted their price target on Uber Technologies from $115.00 to $117.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Cantor Fitzgerald reissued an "overweight" rating and issued a $106.00 price target (up previously from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. Wedbush reduced their target price on Uber Technologies from $85.00 to $84.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Finally, BMO Capital Markets boosted their target price on Uber Technologies from $101.00 to $113.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Uber Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $103.06.

Uber Technologies Stock Performance

UBER traded up $3.98 on Friday, hitting $98.68. The company had a trading volume of 38,703,086 shares, compared to its average volume of 16,364,744. Uber Technologies, Inc. has a 1-year low of $59.33 and a 1-year high of $99.70. The stock has a market cap of $205.79 billion, a price-to-earnings ratio of 16.81, a price-to-earnings-growth ratio of 1.13 and a beta of 1.43. The company's fifty day moving average price is $92.63 and its 200 day moving average price is $85.38. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.11 and a quick ratio of 1.11.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The company had revenue of $12.65 billion during the quarter, compared to analyst estimates of $12.45 billion. During the same period in the previous year, the company earned $0.47 earnings per share. The company's quarterly revenue was up 18.2% compared to the same quarter last year. Equities analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

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.