Arizona State Retirement System Has $40.52 Million Stake in Uber Technologies, Inc. (NYSE:UBER)

Arizona State Retirement System lifted its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 556,171 shares of the ride-sharing company's stock after acquiring an additional 9,142 shares during the quarter. Arizona State Retirement System's holdings in Uber Technologies were worth $40,523,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of UBER. Noble Wealth Management PBC acquired a new position in Uber Technologies during the 1st quarter worth about $27,000. Kozak & Associates Inc. lifted its holdings 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. GPS Wealth Strategies Group LLC lifted its holdings 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. Perkins Coie Trust Co lifted its holdings in Uber Technologies by 306.0% during the 1st quarter. Perkins Coie Trust Co now owns 406 shares of the ride-sharing company's stock worth $30,000 after buying an additional 306 shares during the period. Finally, Fourth Dimension Wealth LLC acquired a new position in Uber Technologies during the 4th quarter worth about $27,000. Institutional investors and hedge funds own 80.24% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. UBS Group lifted their target price on Uber Technologies from $103.00 to $107.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Barclays boosted their price objective on Uber Technologies from $86.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Stifel Nicolaus started coverage on Uber Technologies in a research note on Wednesday, June 11th. They issued a "buy" rating and a $110.00 price objective on the stock. Loop Capital reissued a "buy" rating and issued a $105.00 price objective (up from $89.00) on shares of Uber Technologies in a research note on Wednesday, May 21st. Finally, DA Davidson boosted their price objective on Uber Technologies from $80.00 to $98.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Thirteen research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $96.12.

Uber Technologies Price Performance

Uber Technologies stock opened at $95.36 on Friday. Uber Technologies, Inc. has a 12 month low of $54.84 and a 12 month high of $97.72. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37. The business's 50 day simple moving average is $88.47 and its 200 day simple moving average is $77.53. The company has a market cap of $199.41 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 1.22 and a beta of 1.40.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.33. The firm had revenue of $11.53 billion for the quarter, compared to the consensus estimate of $11.61 billion. Uber Technologies had a return on equity of 66.46% and a net margin of 27.07%. The business's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.32) earnings per share. Sell-side analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Activity

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $95.00, for a total transaction of $261,250.00. Following the completion of the transaction, the chief financial officer owned 21,975 shares of the company's stock, valued at $2,087,625. This represents a 11.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jill Hazelbaker sold 34,884 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $86.03, for a total value of $3,001,070.52. Following the transaction, the insider directly owned 102,135 shares of the company's stock, valued at $8,786,674.05. The trade was a 25.46% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,384 shares of company stock valued at $3,496,071. 3.84% of the stock is owned by company 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.

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