Generali Asset Management SPA SGR Has $9.36 Million Stock Holdings in Uber Technologies, Inc. $UBER

Key Points

• Generali Asset Management SPA SGR reduced its stake in Uber Technologies by 29.5% in the second quarter, holding 100,369 shares valued at approximately $9.36 million.
• Uber Technologies reported $0.63 earnings per share for the last quarter, exceeding analysts' expectations, with revenues of $12.65 billion, marking an 18.2% year-over-year increase.
• Despite recent insider sales, Uber maintains strong institutional ownership, with 80.24% of its shares held by hedge funds and other institutional investors.

Generali Asset Management SPA SGR decreased its stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 29.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 100,369 shares of the ride-sharing company's stock after selling 42,092 shares during the quarter. Generali Asset Management SPA SGR's holdings in Uber Technologies were worth $9,364,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Vision Financial Markets LLC purchased a new position in shares of Uber Technologies in the first quarter worth approximately $27,000. West Oak Capital LLC acquired a new position in Uber Technologies in the 2nd quarter worth approximately $28,000. Truvestments Capital LLC boosted its stake in Uber Technologies by 498.5% in 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 period. Trust Co. of Toledo NA OH purchased a new position in Uber Technologies during the 2nd quarter worth approximately $30,000. Finally, Ransom Advisory Ltd acquired a new stake in Uber Technologies during the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 80.24% of the company's stock.

Uber Technologies Stock Up 0.1%

Shares of Uber Technologies stock opened at $94.21 on Wednesday. The firm has a market cap of $196.47 billion, a price-to-earnings ratio of 16.05 and a beta of 1.48. The stock has a 50-day simple moving average of $95.07 and a 200-day simple moving average of $88.19. Uber Technologies, Inc. has a 52-week low of $59.33 and a 52-week high of $101.99. 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 data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.02. The firm had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The company's revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.47 earnings per share. On average, equities research analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on UBER. BMO Capital Markets raised their target price on Uber Technologies from $101.00 to $113.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Piper Sandler increased 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. Cowen reaffirmed a "buy" rating on shares of Uber Technologies in a research note on Thursday, August 7th. Needham & Company LLC upped their target price on Uber Technologies from $100.00 to $109.00 and gave the company a "buy" rating in a report on Monday, July 14th. Finally, Wall Street Zen cut shares of Uber Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Two research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $105.06.

Insider Buying and Selling at Uber Technologies

In related news, insider Jill Hazelbaker sold 31,250 shares of Uber Technologies stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total value of $3,013,125.00. Following the completion of the sale, the insider owned 86,531 shares of the company's stock, valued at approximately $8,343,319.02. The trade was a 26.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total transaction of $273,405.00. Following the completion of the sale, the chief financial officer owned 22,528 shares of the company's stock, valued at $2,239,733.76. This represents a 10.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 601,821 shares of company stock worth $58,659,491 in the last ninety days. Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.