Retirement Systems of Alabama Sells 55,215 Shares of Uber Technologies, Inc. (NYSE:UBER)

Retirement Systems of Alabama lowered its holdings in shares of Uber Technologies, Inc. (NYSE:UBER) by 4.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,081,802 shares of the ride-sharing company’s stock after selling 55,215 shares during the period. Retirement Systems of Alabama owned about 0.05% of Uber Technologies worth $81,308,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in shares of Uber Technologies by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 42,500,359 shares of the ride-sharing company’s stock valued at $3,184,013,000 after acquiring an additional 893,652 shares during the last quarter. Edgewood Management LLC boosted its stake in shares of Uber Technologies by 10.5% during the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after purchasing an additional 2,627,768 shares during the period. Legal & General Group Plc increased its stake in shares of Uber Technologies by 1.6% in the second quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock worth $1,107,529,000 after buying an additional 237,976 shares during the period. Janus Henderson Group PLC raised its holdings in Uber Technologies by 18.3% during the 3rd quarter. Janus Henderson Group PLC now owns 13,286,812 shares of the ride-sharing company’s stock valued at $998,767,000 after buying an additional 2,056,273 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Uber Technologies by 14.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 12,498,209 shares of the ride-sharing company’s stock valued at $939,365,000 after buying an additional 1,601,747 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Truist Financial reduced their target price on Uber Technologies from $99.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. KeyCorp cut their price target on shares of Uber Technologies from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Daiwa America downgraded shares of Uber Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 17th. Loop Capital lifted their target price on Uber Technologies from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Finally, UBS Group upped their target price on shares of Uber Technologies from $102.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Six analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.51.

Uber Technologies Price Performance

Shares of UBER stock opened at $61.90 on Friday. Uber Technologies, Inc. has a twelve month low of $54.84 and a twelve month high of $87.00. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.70. The stock has a fifty day simple moving average of $73.82 and a two-hundred day simple moving average of $71.35. The stock has a market capitalization of $130.34 billion, a price-to-earnings ratio of 30.55, a P/E/G ratio of 0.76 and a beta of 1.33.

Uber Technologies (NYSE:UBER) last released its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.79. Uber Technologies had a net margin of 10.49% and a return on equity of 33.46%. The company had revenue of $11.19 billion during the quarter, compared to analyst estimates of $10.99 billion. During the same period in the prior year, the firm earned $0.10 earnings per share. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, analysts predict that Uber Technologies, Inc. will post 1.89 EPS for the current fiscal year.

Insider Activity at Uber Technologies

In other news, insider Jill Hazelbaker sold 27,780 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $72.90, for a total value of $2,025,162.00. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.84% of the stock is currently owned by corporate insiders.

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.