Assenagon Asset Management S.A. Boosts Stock Holdings in Uber Technologies, Inc. (NYSE:UBER)

Assenagon Asset Management S.A. grew its position in Uber Technologies, Inc. (NYSE:UBER) by 670.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,611,557 shares of the ride-sharing company’s stock after acquiring an additional 5,753,637 shares during the quarter. Uber Technologies comprises 0.6% of Assenagon Asset Management S.A.’s holdings, making the stock its 17th largest position. Assenagon Asset Management S.A. owned 0.31% of Uber Technologies worth $398,809,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in UBER. Financial Management Professionals Inc. raised its holdings in Uber Technologies by 104.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 494 shares of the ride-sharing company’s stock valued at $37,000 after acquiring an additional 252 shares during the last quarter. Kieckhefer Group LLC purchased a new position in Uber Technologies during the fourth quarter worth approximately $33,000. Transcendent Capital Group LLC boosted its stake in Uber Technologies by 3,928.6% during the third quarter. Transcendent Capital Group LLC now owns 564 shares of the ride-sharing company’s stock worth $42,000 after buying an additional 550 shares during the last quarter. Fortitude Family Office LLC grew its holdings in Uber Technologies by 84.7% in the 3rd quarter. Fortitude Family Office LLC now owns 602 shares of the ride-sharing company’s stock valued at $45,000 after buying an additional 276 shares in the last quarter. Finally, ORG Partners LLC increased its stake in shares of Uber Technologies by 142.9% in the 3rd quarter. ORG Partners LLC now owns 651 shares of the ride-sharing company’s stock worth $49,000 after acquiring an additional 383 shares during the last quarter. 80.24% of the stock is owned by institutional investors and hedge funds.

Uber Technologies Stock Performance

Shares of UBER opened at $64.98 on Wednesday. The company has a market capitalization of $136.83 billion, a price-to-earnings ratio of 32.33, a price-to-earnings-growth ratio of 0.75 and a beta of 1.36. Uber Technologies, Inc. has a 52-week low of $54.84 and a 52-week high of $87.00. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.70. The stock has a 50 day moving average price of $66.58 and a 200 day moving average price of $70.43.

Uber Technologies (NYSE:UBER) last issued its earnings results on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.79. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The business had revenue of $11.19 billion during the quarter, compared to analysts’ expectations of $10.99 billion. During the same quarter in the prior year, the business posted $0.10 EPS. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. Research analysts predict that Uber Technologies, Inc. will post 1.89 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Raymond James began coverage on shares of Uber Technologies in a research report on Tuesday, September 24th. They set a “strong-buy” rating and a $90.00 price target on the stock. Wolfe Research increased their price objective on Uber Technologies from $90.00 to $92.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Wells Fargo & Company decreased their price target on Uber Technologies from $97.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. JMP Securities downgraded Uber Technologies from an “outperform” rating to a “market perform” rating and set a $95.00 price objective for the company. in a research report on Thursday, January 2nd. Finally, Jefferies Financial Group upped their target price on shares of Uber Technologies from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.53.

Insiders Place Their Bets

In other news, insider Jill Hazelbaker sold 27,780 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $72.90, for a total transaction of $2,025,162.00. Following the transaction, the insider now directly owns 107,289 shares in the company, valued at approximately $7,821,368.10. This trade represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.84% of the company’s stock.

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.