Retirement Systems of Alabama Sells 11,418 Shares of Uber Technologies, Inc. $UBER

Retirement Systems of Alabama lowered its holdings in Uber Technologies, Inc. (NYSE:UBER) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,081,784 shares of the ride-sharing company’s stock after selling 11,418 shares during the quarter. Retirement Systems of Alabama’s holdings in Uber Technologies were worth $100,930,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of UBER. Pershing Square Capital Management L.P. bought a new stake in shares of Uber Technologies in the 1st quarter valued at about $2,207,743,000. Kingstone Capital Partners Texas LLC raised its stake in shares of Uber Technologies by 334,075.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock worth $1,863,545,000 after acquiring an additional 19,967,705 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Uber Technologies by 2,571.2% during the 1st quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company’s stock worth $473,456,000 after acquiring an additional 6,254,898 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Uber Technologies by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company’s stock worth $13,590,287,000 after acquiring an additional 5,759,353 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Uber Technologies by 105.9% during the 2nd quarter. Nordea Investment Management AB now owns 5,459,829 shares of the ride-sharing company’s stock worth $506,618,000 after acquiring an additional 2,807,967 shares in the last quarter. Institutional investors own 80.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wedbush reduced their price objective on shares of Uber Technologies from $85.00 to $84.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. Benchmark reiterated a “hold” rating on shares of Uber Technologies in a research note on Tuesday. Raymond James Financial boosted their price objective on shares of Uber Technologies from $100.00 to $105.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 7th. Needham & Company LLC boosted their price objective on shares of Uber Technologies from $100.00 to $109.00 and gave the stock a “buy” rating in a research note on Monday, July 14th. Finally, Bank of America boosted their price objective on shares of Uber Technologies from $97.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, Uber Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $106.18.

Uber Technologies Trading Up 0.2%

Shares of Uber Technologies stock opened at $95.63 on Thursday. 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 12-month low of $59.33 and a 12-month high of $101.99. The firm has a market capitalization of $199.43 billion, a price-to-earnings ratio of 16.29 and a beta of 1.48. The firm’s 50 day simple moving average is $95.52 and its two-hundred day simple moving average is $90.17.

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

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, insider Tony West sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $100.38, for a total transaction of $10,038,000.00. Following the transaction, the insider owned 171,558 shares in the company, valued at approximately $17,220,992.04. This represents a 36.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $99.42, for a total transaction of $273,405.00. Following the transaction, the chief financial officer owned 22,528 shares in the company, valued at $2,239,733.76. The trade was a 10.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 604,946 shares of company stock worth $58,950,116 in the last three months. 3.84% of the stock is owned by company insiders.

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.