State of Michigan Retirement System Sells 4,800 Shares of Uber Technologies, Inc. (NYSE:UBER)

State of Michigan Retirement System trimmed its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 0.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 566,700 shares of the ride-sharing company's stock after selling 4,800 shares during the period. State of Michigan Retirement System's holdings in Uber Technologies were worth $41,290,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Noble Wealth Management PBC acquired a new position in shares of Uber Technologies in the 1st quarter worth approximately $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 in the last quarter. 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 in the last quarter. 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 in the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new position in Uber Technologies during the 4th quarter worth $27,000. 80.24% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Uber Technologies Stock Down 0.3%

Shares of NYSE UBER opened at $96.39 on Friday. Uber Technologies, Inc. has a one year low of $54.84 and a one year high of $97.72. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 1.02. The business's fifty day moving average price is $88.25 and its 200-day moving average price is $77.30. The stock has a market capitalization of $201.57 billion, a PE ratio of 16.88, a P/E/G ratio of 1.23 and a beta of 1.40.

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

Analyst Ratings Changes

Several analysts have commented on the stock. Cantor Fitzgerald reiterated an "overweight" rating and set a $106.00 target price (up previously from $96.00) on shares of Uber Technologies in a research report on Wednesday, June 25th. The Goldman Sachs Group raised their target price on shares of Uber Technologies from $96.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. TD Cowen cut their price objective on shares of Uber Technologies from $90.00 to $88.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $82.00 price target on shares of Uber Technologies in a research report on Monday, May 5th. Finally, Canaccord Genuity Group reissued a "hold" rating and issued a $84.00 price objective (down from $90.00) on shares of Uber Technologies in a research note on Friday, June 27th. Thirteen research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat.com, Uber Technologies has an average rating of "Moderate Buy" and a consensus target price of $95.97.

Uber Technologies Company 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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