Retirement Systems of Alabama Trims Stake in Uber Technologies, Inc. (NYSE:UBER)

Retirement Systems of Alabama trimmed its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 4.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,081,802 shares of the ride-sharing company’s stock after selling 55,215 shares during the quarter. Retirement Systems of Alabama’s holdings in Uber Technologies were worth $81,308,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in Uber Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 42,500,359 shares of the ride-sharing company’s stock valued at $3,184,013,000 after buying an additional 893,652 shares in the last quarter. Edgewood Management LLC raised its position in Uber Technologies by 10.5% during the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock worth $2,070,813,000 after acquiring an additional 2,627,768 shares during the period. Legal & General Group Plc lifted its holdings in Uber Technologies by 1.6% during the second quarter. Legal & General Group Plc now owns 15,238,477 shares of the ride-sharing company’s stock valued at $1,107,529,000 after purchasing an additional 237,976 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Uber Technologies by 18.3% in the third quarter. Janus Henderson Group PLC now owns 13,286,812 shares of the ride-sharing company’s stock valued at $998,767,000 after purchasing an additional 2,056,273 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Uber Technologies by 14.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 12,498,209 shares of the ride-sharing company’s stock worth $939,365,000 after purchasing an additional 1,601,747 shares in the last quarter. 80.24% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Jill Hazelbaker sold 40,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $72.00, for a total value of $2,880,000.00. Following the completion of the transaction, the insider now owns 127,352 shares of the company’s stock, valued at approximately $9,169,344. The trade was a 23.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on UBER shares. Loop Capital increased their target price on Uber Technologies from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Benchmark reiterated a “hold” rating on shares of Uber Technologies in a research report on Friday, November 1st. Tigress Financial upped their target price on Uber Technologies from $96.00 to $103.00 and gave the company a “buy” rating in a report on Monday, November 25th. Daiwa America lowered Uber Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 17th. Finally, JMP Securities reissued a “market outperform” rating and issued a $95.00 price objective on shares of Uber Technologies in a report on Wednesday, December 4th. Six analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.51.

Uber Technologies Price Performance

Shares of NYSE:UBER opened at $61.90 on Friday. Uber Technologies, Inc. has a one year low of $54.84 and a one year high of $87.00. The stock has a market capitalization of $130.34 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 0.76 and a beta of 1.33. The company has a 50-day simple moving average of $73.82 and a 200-day simple moving average of $71.35. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.41 and a current ratio of 1.41.

Uber Technologies (NYSE:UBER) last posted its quarterly earnings data on Thursday, October 31st. The ride-sharing company reported $1.20 EPS for the quarter, beating the consensus estimate of $0.41 by $0.79. Uber Technologies had a return on equity of 33.46% and a net margin of 10.49%. The firm had revenue of $11.19 billion during the quarter, compared to the consensus estimate of $10.99 billion. During the same period in the prior year, the business earned $0.10 EPS. The firm’s revenue was up 20.4% compared to the same quarter last year. On average, analysts predict that Uber Technologies, Inc. will post 1.89 EPS for the current year.

About Uber Technologies

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.