State of Michigan Retirement System Sells 16,400 Shares of Uber Technologies, Inc. $UBER

Key Points

• State of Michigan Retirement System reduced its Uber position by 3.1%, selling 16,400 shares and retaining 521,200 shares valued at approximately $37.61 million.
• Institutional investors own about 80.24% of Uber, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $104.25.
• Uber’s latest quarterly results modestly beat earnings expectations, reporting $0.81 in EPS and $14.19 billion in revenue, while the company continues investing in robotaxi partnerships across Europe and Japan.

State of Michigan Retirement System decreased its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 3.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 521,200 shares of the ride-sharing company's stock after selling 16,400 shares during the period. State of Michigan Retirement System's holdings in Uber Technologies were worth $37,610,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in UBER. Brighton Jones LLC lifted its position in shares of Uber Technologies by 3.4% during the 4th quarter. Brighton Jones LLC now owns 74,460 shares of the ride-sharing company's stock worth $4,491,000 after buying an additional 2,474 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in Uber Technologies by 65.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock valued at $939,000 after buying an additional 6,129 shares in the last quarter. Bison Wealth LLC grew its position in Uber Technologies by 20.3% in the fourth quarter. Bison Wealth LLC now owns 3,792 shares of the ride-sharing company's stock valued at $229,000 after acquiring an additional 641 shares during the last quarter. Caxton Associates LLP bought a new position in Uber Technologies in the first quarter valued at about $304,000. Finally, Schnieders Capital Management LLC. acquired a new position in Uber Technologies during the second quarter worth about $842,000. 80.24% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on UBER. Truist Financial increased their target price on shares of Uber Technologies from $108.00 to $112.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. TD Cowen reaffirmed a "buy" rating and set a $118.00 price target on shares of Uber Technologies in a report on Thursday, July 16th. Roth Capital lowered their price objective on shares of Uber Technologies from $105.00 to $100.00 and set a "buy" rating for the company in a research report on Monday, August 10th. Needham & Company LLC reissued a "buy" rating and issued a $109.00 price objective on shares of Uber Technologies in a research note on Thursday, August 6th. Finally, Weiss Ratings downgraded shares of Uber Technologies from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $104.25.

Trending Headlines about Uber Technologies

Here are the key news stories impacting Uber Technologies this week:

• Positive Sentiment: Uber and Chinese autonomous-driving company Pony.ai expanded their partnership, targeting the deployment of more than 2,000 robotaxis across Europe. The plan builds on the existing Zagreb service and adds four additional European cities, with potential expansion into the Middle East. The initiative could give Uber a scalable path into autonomous mobility without owning the entire vehicle fleet. China's Pony.ai, Uber to jointly deploy over 2,000 robotaxis in Europe
• Positive Sentiment: Uber is also preparing a Tokyo robotaxi pilot for late 2026 with Japanese taxi operator Hinomaru Kotsu. The local partner will handle fleet operations, maintenance, charging and vehicle uptime, potentially helping Uber navigate Japan’s regulatory and operational requirements. Uber Partners with Hinomaru Kotsu for Robotaxi Pilot Deployment in Tokyo
• Positive Sentiment: Several investment analyses argue that Uber’s valuation looks attractive after the stock’s recent weakness. Supporters point to continued market-share gains, improving margins and more than $58 billion in second-quarter gross bookings, with Mobility, Delivery and Freight all contributing to growth. Uber Stock Looks Cheap. Here’s Why.
• Neutral Sentiment: Uber CEO Dara Khosrowshahi highlighted Japan as an important market for both Delivery and Mobility, reinforcing management’s broader strategy of using regional partners to expand robotaxi services. However, the European rollout and Tokyo pilot remain future deployments rather than near-term revenue catalysts.
• Negative Sentiment: Uber Freight is investigating a cybersecurity incident involving unauthorized access to certain internal systems and code repositories. The company said Freight operations were not disrupted and that the incident was contained, but the potential scope of compromised data remains under review. Separately, investors continue to debate whether autonomous vehicles could eventually pressure Uber’s driver-based network economics, despite the company’s partnerships. Uber Freight investigates cyber incident after hackers claim million-file leak

Uber Technologies Stock Performance

NYSE UBER opened at $75.88 on Monday. The company has a market capitalization of $154.99 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 6.24 and a beta of 1.13. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.38. Uber Technologies, Inc. has a twelve month low of $65.41 and a twelve month high of $101.99. The stock has a fifty day simple moving average of $72.31 and a 200 day simple moving average of $73.43.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its earnings results on Wednesday, August 5th. The ride-sharing company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.80 by $0.01. Uber Technologies had a return on equity of 43.36% and a net margin of 17.34%.The firm had revenue of $14.19 billion for the quarter, compared to the consensus estimate of $14.24 billion. During the same period in the previous year, the business earned $0.60 EPS. The business's quarterly revenue was up 12.2% compared to the same quarter last year. Uber Technologies has set its Q3 2026 guidance at 0.840-0.880 EPS. Sell-side analysts expect that Uber Technologies, Inc. will post 3.33 EPS for the current year.

Uber Technologies Company Profile

Uber Technologies, Inc is a technology company that operates a global platform connecting riders, drivers, couriers, restaurants and shippers. Founded in 2009 by Garrett Camp and Travis Kalanick and headquartered in San Francisco, Uber developed one of the first large-scale ride-hailing marketplaces and has since expanded into a broader set of mobility and logistics services. The company completed its initial public offering in 2019 and continues to position its app-based network as a multi-modal transportation and delivery platform.

Uber's principal businesses include mobility services (ride-hailing and shared rides), delivery through Uber Eats, and freight logistics via Uber Freight.

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