Assenagon Asset Management S.A. Sells 3,911,935 Shares of Uber Technologies, Inc. (NYSE:UBER)

Assenagon Asset Management S.A. lowered its holdings in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 59.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,699,622 shares of the ride-sharing company's stock after selling 3,911,935 shares during the quarter. Assenagon Asset Management S.A. owned about 0.13% of Uber Technologies worth $196,694,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Avion Wealth boosted its holdings in Uber Technologies by 96.0% in the fourth quarter. Avion Wealth now owns 445 shares of the ride-sharing company's stock valued at $26,000 after acquiring an additional 218 shares during the last quarter. Transce3nd LLC bought a new position in Uber Technologies in the fourth quarter valued at about $27,000. Fourth Dimension Wealth LLC bought a new position in Uber Technologies in the fourth quarter valued at about $27,000. Kozak & Associates Inc. boosted its holdings in Uber Technologies by 155.9% in the first quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock valued at $27,000 after acquiring an additional 223 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. bought a new position in Uber Technologies in the fourth quarter valued at about $28,000. Institutional investors and hedge funds own 80.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Piper Sandler reiterated an "overweight" rating and issued a $87.00 price target (up previously from $80.00) on shares of Uber Technologies in a report on Tuesday, February 18th. Citigroup increased their target price on Uber Technologies from $92.00 to $102.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Wells Fargo & Company increased their target price on Uber Technologies from $90.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Wall Street Zen lowered Uber Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $82.00 price target on shares of Uber Technologies in a research report on Monday, May 5th. Twelve investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $94.39.

Insider Buying and Selling at Uber Technologies

In other news, insider Jill Hazelbaker sold 34,884 shares of Uber Technologies stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the completion of the transaction, the insider now directly owns 102,135 shares in the company, valued at approximately $8,786,674.05. The trade was a 25.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of Uber Technologies stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $85.00, for a total value of $233,750.00. Following the transaction, the chief financial officer now owns 21,063 shares of the company's stock, valued at $1,790,355. This represents a 11.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,384 shares of company stock worth $3,441,071 over the last ninety days. 3.84% of the stock is currently owned by corporate insiders.

Uber Technologies Stock Down 2.1%

UBER stock traded down $1.81 during mid-day trading on Friday, reaching $83.81. The company had a trading volume of 17,974,278 shares, compared to its average volume of 20,798,681. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.07 and a quick ratio of 1.41. The stock has a 50 day simple moving average of $82.19 and a two-hundred day simple moving average of $73.97. The company has a market capitalization of $175.26 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 0.89 and a beta of 1.38. Uber Technologies, Inc. has a 52 week low of $54.84 and a 52 week high of $93.60.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.33. The firm had revenue of $11.53 billion during the quarter, compared to the consensus estimate of $11.61 billion. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. The business's revenue was up 13.8% compared to the same quarter last year. During the same period last year, the company earned ($0.32) earnings per share. As a group, 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.