Public Employees Retirement System of Ohio Sells 12,048 Shares of Uber Technologies, Inc. $UBER

Key Points

• The Public Employees Retirement System of Ohio sold 12,048 shares of Uber Technologies, reducing its stake by 1.4%, leaving it with 824,146 shares valued at $76.89 million.
• Analyst ratings for Uber have improved, with Morgan Stanley raising its target price to $115.00, and most analysts giving the stock a consensus of "Moderate Buy".
• Uber Technologies reported an earnings per share (EPS) of $0.63 for the last quarter, exceeding consensus estimates and showing an 18.2% year-over-year revenue increase.

Public Employees Retirement System of Ohio trimmed its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 824,146 shares of the ride-sharing company's stock after selling 12,048 shares during the period. Public Employees Retirement System of Ohio's holdings in Uber Technologies were worth $76,893,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Uber Technologies by 3.2% during the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock valued at $13,590,287,000 after purchasing an additional 5,759,353 shares during the period. Pershing Square Capital Management L.P. acquired a new stake in Uber Technologies during the first quarter worth $2,207,743,000. Kingstone Capital Partners Texas LLC boosted its stake in Uber Technologies by 334,075.7% during the second 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 buying an additional 19,967,705 shares in the last quarter. Northern Trust Corp increased its holdings in Uber Technologies by 3.9% in the 1st quarter. Northern Trust Corp now owns 19,240,638 shares of the ride-sharing company's stock valued at $1,401,873,000 after buying an additional 720,122 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Uber Technologies by 3.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,667,322 shares of the ride-sharing company's stock valued at $995,801,000 after buying an additional 394,157 shares in the last quarter. Institutional investors and hedge funds own 80.24% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Morgan Stanley reiterated an "overweight" rating and set a $115.00 target price (up from $95.00) on shares of Uber Technologies in a research report on Monday, July 21st. Cowen reaffirmed a "buy" rating on shares of Uber Technologies in a report on Thursday, August 7th. Stifel Nicolaus upped their price objective on Uber Technologies from $110.00 to $117.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Susquehanna raised their target price on Uber Technologies from $100.00 to $105.00 and gave the stock a "positive" rating in a research report on Thursday, August 7th. Finally, BMO Capital Markets boosted their price target on Uber Technologies from $101.00 to $113.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, Uber Technologies presently has an average rating of "Moderate Buy" and an average target price of $103.06.

Uber Technologies Stock Down 1.6%

Shares of NYSE UBER opened at $97.78 on Wednesday. Uber Technologies, Inc. has a 1 year low of $59.33 and a 1 year high of $101.99. The firm's 50-day moving average is $92.85 and its 200-day moving average is $85.70. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $203.90 billion, a PE ratio of 16.66 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. The business had revenue of $12.65 billion during the quarter, compared to analysts' expectations of $12.45 billion. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The firm's quarterly revenue was up 18.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.47 earnings per share. Equities analysts expect that Uber Technologies, Inc. will post 2.54 EPS for the current year.

Insider Activity at Uber Technologies

In related news, SVP Nikki Krishnamurthy sold 11,571 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $91.74, for a total value of $1,061,523.54. Following the completion of the transaction, the senior vice president directly owned 416,222 shares in the company, valued at approximately $38,184,206.28. The trade was a 2.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jill Hazelbaker sold 31,250 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total transaction of $3,013,125.00. Following the sale, the insider owned 86,531 shares in the company, valued at $8,343,319.02. This trade represents a 26.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 354,571 shares of company stock valued at $33,810,741 over the last 90 days. Insiders own 3.70% 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.

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