State of Michigan Retirement System Sells 700 Shares of Uber Technologies, Inc. (NYSE:UBER)

State of Michigan Retirement System reduced its holdings in Uber Technologies, Inc. (NYSE:UBER) by 0.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 571,500 shares of the ride-sharing company’s stock after selling 700 shares during the quarter. State of Michigan Retirement System’s holdings in Uber Technologies were worth $34,473,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Jmac Enterprises LLC raised its stake in shares of Uber Technologies by 2.1% in the third quarter. Jmac Enterprises LLC now owns 7,340 shares of the ride-sharing company’s stock worth $552,000 after purchasing an additional 150 shares during the last quarter. Canopy Partners LLC raised its stake in shares of Uber Technologies by 2.2% in the third quarter. Canopy Partners LLC now owns 6,958 shares of the ride-sharing company’s stock worth $523,000 after purchasing an additional 151 shares during the last quarter. Drive Wealth Management LLC raised its stake in shares of Uber Technologies by 3.1% in the fourth quarter. Drive Wealth Management LLC now owns 5,172 shares of the ride-sharing company’s stock worth $312,000 after purchasing an additional 155 shares during the last quarter. Institute for Wealth Management LLC. raised its stake in shares of Uber Technologies by 2.4% in the fourth quarter. Institute for Wealth Management LLC. now owns 6,606 shares of the ride-sharing company’s stock worth $398,000 after purchasing an additional 155 shares during the last quarter. Finally, AlphaCore Capital LLC raised its stake in shares of Uber Technologies by 1.4% in the third quarter. AlphaCore Capital LLC now owns 12,231 shares of the ride-sharing company’s stock worth $919,000 after purchasing an additional 169 shares during the last quarter. 80.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

UBER has been the subject of a number of research reports. Evercore ISI reduced their price objective on Uber Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, February 6th. The Goldman Sachs Group reiterated a “buy” rating and set a $96.00 price objective on shares of Uber Technologies in a research report on Thursday, January 2nd. Tigress Financial upped their price objective on Uber Technologies from $96.00 to $103.00 and gave the company a “buy” rating in a research report on Monday, November 25th. JMP Securities restated a “market perform” rating on shares of Uber Technologies in a research report on Thursday, February 6th. Finally, Loop Capital upped their price target on Uber Technologies from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.94.

Insiders Place Their Bets

In other Uber Technologies news, insider Jill Hazelbaker sold 31,000 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the transaction, the insider now directly owns 86,973 shares in the company, valued at $7,046,552.46. This trade represents a 26.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.84% of the stock is currently owned by company insiders.

Uber Technologies Trading Down 2.2 %

Shares of NYSE UBER opened at $74.37 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.07. The business’s 50 day moving average price is $69.78 and its 200-day moving average price is $71.54. Uber Technologies, Inc. has a fifty-two week low of $54.84 and a fifty-two week high of $87.00. The company has a market cap of $155.36 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 0.89 and a beta of 1.39.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, topping the consensus estimate of $0.50 by $2.71. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. On average, sell-side analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share 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.