State of New Jersey Common Pension Fund D Sells 5,232 Shares of Uber Technologies, Inc. $UBER

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Uber Technologies by 0.8%, selling 5,232 shares, and now holds 636,202 shares worth approximately $59.36 million.
• UBER's stock is down 0.6%, currently priced at $94.09, with a market capitalization of $196.21 billion and a P/E ratio of 16.03.
• Insider activity has included significant sales, with CEO Dara Khosrowshahi selling 300,000 shares, reflecting a 20.94% decrease in his holdings.

State of New Jersey Common Pension Fund D cut its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 0.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 636,202 shares of the ride-sharing company's stock after selling 5,232 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Uber Technologies were worth $59,358,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hilltop National Bank bought a new stake in shares of Uber Technologies during the 2nd quarter valued at approximately $96,000. Geneos Wealth Management Inc. grew its holdings in shares of Uber Technologies by 805.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 102,706 shares of the ride-sharing company's stock valued at $7,483,000 after purchasing an additional 91,362 shares during the last quarter. Fort Washington Investment Advisors Inc. OH grew its holdings in shares of Uber Technologies by 42.7% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 759,077 shares of the ride-sharing company's stock valued at $70,822,000 after purchasing an additional 226,960 shares during the last quarter. Kapstone Financial Advisors LLC bought a new stake in Uber Technologies during the 2nd quarter worth approximately $415,000. Finally, Northeast Investment Management grew its holdings in Uber Technologies by 168.2% during the 2nd quarter. Northeast Investment Management now owns 91,481 shares of the ride-sharing company's stock worth $8,535,000 after acquiring an additional 57,369 shares during the last quarter. 80.24% of the stock is owned by institutional investors.

Uber Technologies Stock Down 0.6%

Shares of NYSE UBER opened at $94.09 on Friday. The company has a market capitalization of $196.21 billion, a P/E ratio of 16.03 and a beta of 1.48. Uber Technologies, Inc. has a 52-week low of $59.33 and a 52-week high of $101.99. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. The company's 50 day moving average price is $95.42 and its 200-day moving average price is $89.38.

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

Insider Activity at Uber Technologies

In related news, insider Tony West sold 100,000 shares of the business's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $100.38, for a total transaction of $10,038,000.00. Following the transaction, the insider owned 171,558 shares in the company, valued at $17,220,992.04. The trade was a 36.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dara Khosrowshahi sold 300,000 shares of the business's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $95.37, for a total transaction of $28,611,000.00. Following the transaction, the chief executive officer owned 1,132,544 shares in the company, valued at $108,010,721.28. The trade was a 20.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 604,946 shares of company stock worth $58,950,116 over the last ninety days. 3.84% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

UBER has been the topic of a number of research reports. Wells Fargo & Company reduced their target price on shares of Uber Technologies from $127.00 to $125.00 and set an "overweight" rating on the stock in a report on Friday, October 3rd. Roth Capital boosted their target price on shares of Uber Technologies from $93.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Bank of America boosted their target price on shares of Uber Technologies from $97.00 to $115.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Wedbush reduced their target price on shares of Uber Technologies from $85.00 to $84.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Finally, Mizuho initiated coverage on shares of Uber Technologies in a report on Monday, September 29th. They set an "outperform" rating and a $130.00 target price on the stock. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $105.91.

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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