MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Purchases Shares of 183,588 Uber Technologies, Inc. $UBER

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new stake in Uber Technologies, Inc. (NYSE:UBER) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 183,588 shares of the ride-sharing company’s stock, valued at approximately $17,129,000.

Other hedge funds have also made changes to their positions in the company. West Oak Capital LLC purchased a new position in shares of Uber Technologies in the 2nd quarter valued at $28,000. Noble Wealth Management PBC purchased a new stake in Uber Technologies during the 1st quarter worth $27,000. Kozak & Associates Inc. increased its stake in Uber Technologies by 155.9% during the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company’s stock worth $27,000 after buying an additional 223 shares during the period. Vision Financial Markets LLC purchased a new stake in Uber Technologies during the 1st quarter worth $27,000. Finally, GPS Wealth Strategies Group LLC increased its stake in Uber Technologies by 305.1% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 397 shares of the ride-sharing company’s stock worth $29,000 after buying an additional 299 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Insider Activity

In related news, CEO Dara Khosrowshahi sold 300,000 shares of the company’s stock in a transaction on Friday, September 12th. The shares were 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. This represents a 20.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jill Hazelbaker sold 31,250 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the completion of the transaction, the insider owned 86,531 shares of the company’s stock, valued at approximately $8,343,319.02. This represents a 26.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 604,571 shares of company stock worth $58,920,741. Corporate insiders own 3.84% of the company’s stock.

Wall Street Analysts Forecast Growth

UBER has been the topic of a number of recent analyst reports. KeyCorp boosted their price target on shares of Uber Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. Sanford C. Bernstein boosted their price objective on shares of Uber Technologies from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, July 21st. Wells Fargo & Company boosted their price objective on shares of Uber Technologies from $119.00 to $127.00 and gave the company an “overweight” rating in a research report on Friday, September 5th. JPMorgan Chase & Co. boosted their price objective on shares of Uber Technologies from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, July 11th. Finally, Wall Street Zen downgraded shares of Uber Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, Uber Technologies has an average rating of “Moderate Buy” and an average target price of $103.06.

Uber Technologies Price Performance

Shares of Uber Technologies stock opened at $97.70 on Thursday. The firm has a fifty day simple moving average of $92.99 and a 200-day simple moving average of $85.78. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. Uber Technologies, Inc. has a 1-year low of $59.33 and a 1-year high of $101.99. The stock has a market capitalization of $203.75 billion, a price-to-earnings ratio of 16.64 and a beta of 1.43.

Uber Technologies (NYSE:UBER) last released its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. The firm had revenue of $12.65 billion during the quarter, compared to analysts’ expectations of $12.45 billion. Uber Technologies had a net margin of 26.68% and a return on equity of 59.96%. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.47 EPS. On average, sell-side analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

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.