State of New Jersey Common Pension Fund D Lowers Position in Uber Technologies, Inc. (NYSE:UBER)

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in **Uber Technologies, Inc.** by 7.7%, selling 53,185 shares during the first quarter and holding 641,434 shares worth approximately **$46.7 million** afterward.
• JPMorgan raised its price target for Uber from **$105** to **$110**, while other analysts also adjusted their targets, with a consensus rating of **"Moderate Buy"** and a price target of **$102.82**.
• Uber Technologies reported a quarterly earnings of **$0.63** per share, surpassing estimates and achieving an **18.2% year-over-year revenue growth** at **$12.65 billion**.

State of New Jersey Common Pension Fund D decreased its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 7.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 641,434 shares of the ride-sharing company's stock after selling 53,185 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Uber Technologies were worth $46,735,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Clark Capital Management Group Inc. lifted its stake in shares of Uber Technologies by 11,354.8% in the 4th quarter. Clark Capital Management Group Inc. now owns 402,522 shares of the ride-sharing company's stock valued at $24,280,000 after purchasing an additional 399,008 shares during the period. UMB Bank n.a. lifted its stake in shares of Uber Technologies by 33.6% in the 1st quarter. UMB Bank n.a. now owns 12,210 shares of the ride-sharing company's stock valued at $890,000 after purchasing an additional 3,073 shares during the period. Revolve Wealth Partners LLC lifted its stake in shares of Uber Technologies by 65.0% in the 4th quarter. Revolve Wealth Partners LLC now owns 15,563 shares of the ride-sharing company's stock valued at $939,000 after purchasing an additional 6,129 shares during the period. Mufg Securities Americas Inc. acquired a new position in shares of Uber Technologies in the 4th quarter valued at about $1,875,000. Finally, Dynamic Advisor Solutions LLC acquired a new position in shares of Uber Technologies in the 1st quarter valued at about $943,000. Institutional investors and hedge funds own 80.24% of the company's stock.

Uber Technologies Trading Up 1.4%

Shares of Uber Technologies stock traded up $1.24 during mid-day trading on Friday, hitting $92.64. The stock had a trading volume of 15,836,668 shares, compared to its average volume of 18,822,268. The firm has a 50-day moving average of $90.19 and a two-hundred day moving average of $81.97. Uber Technologies, Inc. has a 12-month low of $59.33 and a 12-month high of $97.71. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. The firm has a market cap of $193.19 billion, a P/E ratio of 15.78, a price-to-earnings-growth ratio of 1.06 and a beta of 1.43.

Uber Technologies (NYSE:UBER - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, beating the consensus estimate 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 net margin of 26.68% and a return on equity of 59.96%. The business's revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.47 EPS. Sell-side analysts forecast that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on UBER shares. JPMorgan Chase & Co. upped their price target on Uber Technologies from $105.00 to $110.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Wall Street Zen downgraded Uber Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Tigress Financial set a $110.00 price target on Uber Technologies and gave the stock a "buy" rating in a research note on Friday, May 23rd. Wells Fargo & Company dropped their price target on Uber Technologies from $120.00 to $119.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Finally, Citigroup upped their price target on Uber Technologies from $92.00 to $102.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Eleven investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $102.82.

Insider Transactions at Uber Technologies

In other Uber Technologies news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $95.00, for a total transaction 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 represents a 11.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.84% of the stock is currently owned by company insiders.

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.