VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Shares in Uber Technologies, Inc. $UBER

Key Points

• Virginia Retirement Systems acquired a new stake in Uber Technologies, purchasing 211,300 shares valued at approximately $19.71 million in the second quarter.
• Uber Technologies reported a net margin of 26.68% and a revenue of $12.65 billion for the last quarter, exceeding consensus estimates.
• Analysts have varying ratings for Uber stocks, with several firms increasing their target prices, indicating a consensus rating of "Moderate Buy" with a target of $105.68.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Uber Technologies, Inc. (NYSE:UBER - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 211,300 shares of the ride-sharing company's stock, valued at approximately $19,714,000.

A number of other large investors have also made changes to their positions in UBER. Vision Financial Markets LLC bought a new position in Uber Technologies during the 1st quarter worth about $27,000. West Oak Capital LLC bought a new position in Uber Technologies during the 2nd quarter worth about $28,000. Truvestments Capital LLC increased its holdings in Uber Technologies by 498.5% during the 1st quarter. Truvestments Capital LLC now owns 407 shares of the ride-sharing company's stock worth $30,000 after purchasing an additional 339 shares in the last quarter. Trust Co. of Toledo NA OH bought a new position in Uber Technologies during the 2nd quarter worth about $30,000. Finally, Ransom Advisory Ltd bought a new position in Uber Technologies during the 1st quarter worth about $31,000. Institutional investors own 80.24% of the company's stock.

Uber Technologies Trading Down 0.2%

Shares of NYSE:UBER opened at $92.29 on Monday. Uber Technologies, Inc. has a 52-week low of $59.33 and a 52-week high of $101.99. The company has a market capitalization of $192.47 billion, a P/E ratio of 15.72 and a beta of 1.48. The company has a 50-day simple moving average of $95.22 and a 200 day simple moving average of $88.73. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on UBER shares. Needham & Company LLC increased their target price on Uber Technologies from $100.00 to $109.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Guggenheim upgraded Uber Technologies to a "strong-buy" rating in a report on Wednesday, October 15th. BMO Capital Markets raised their price objective on Uber Technologies from $101.00 to $113.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Wall Street Zen cut Uber Technologies from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, KeyCorp raised their price objective on Uber Technologies from $90.00 to $110.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, Uber Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $105.68.

Insiders Place Their Bets

In related news, CEO Dara Khosrowshahi sold 150,000 shares of the firm's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $100.48, for a total value of $15,072,000.00. Following the completion of the sale, the chief executive officer directly owned 982,544 shares in the company, valued at approximately $98,726,021.12. This trade represents a 13.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the firm's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $91.74, for a total transaction of $1,061,523.54. Following the completion of the sale, the senior vice president owned 416,222 shares of the company's stock, valued at $38,184,206.28. This trade represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 601,821 shares of company stock worth $58,659,491 in the last three months. Insiders own 3.70% of the company's stock.

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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