Illinois Municipal Retirement Fund Lowers Stake in Uber Technologies, Inc. $UBER

Illinois Municipal Retirement Fund lessened its holdings in Uber Technologies, Inc. (NYSE:UBER) by 20.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 217,826 shares of the ride-sharing company’s stock after selling 55,707 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Uber Technologies were worth $20,323,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in UBER. Pershing Square Capital Management L.P. bought a new stake in Uber Technologies in the first quarter worth $2,207,743,000. Kingstone Capital Partners Texas LLC grew its position in Uber Technologies by 334,075.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock valued at $1,863,545,000 after purchasing an additional 19,967,705 shares during the last quarter. Pacer Advisors Inc. grew its position in Uber Technologies by 2,571.2% during the 1st quarter. Pacer Advisors Inc. now owns 6,498,167 shares of the ride-sharing company’s stock valued at $473,456,000 after purchasing an additional 6,254,898 shares during the last quarter. Vanguard Group Inc. increased its stake in Uber Technologies by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company’s stock valued at $13,590,287,000 after purchasing an additional 5,759,353 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in Uber Technologies by 105.9% in the second quarter. Nordea Investment Management AB now owns 5,459,829 shares of the ride-sharing company’s stock worth $506,618,000 after buying an additional 2,807,967 shares during the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Nikki Krishnamurthy sold 11,571 shares of the company’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $91.74, for a total value of $1,061,523.54. Following the completion of the transaction, the senior vice president owned 416,222 shares of the company’s stock, valued at $38,184,206.28. This represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jill Hazelbaker sold 31,250 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $96.42, for a total value of $3,013,125.00. Following the completion of the transaction, the insider directly owned 86,531 shares in the company, valued at approximately $8,343,319.02. This represents a 26.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 604,946 shares of company stock valued at $58,950,116. Insiders own 3.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. UBS Group set a $122.00 price objective on shares of Uber Technologies and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley reiterated an “overweight” rating and issued a $115.00 price objective (up from $95.00) on shares of Uber Technologies in a report on Monday, July 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Uber Technologies in a report on Wednesday. The Goldman Sachs Group reiterated a “buy” rating on shares of Uber Technologies in a research note on Wednesday. Finally, Truist Financial increased their price objective on shares of Uber Technologies from $96.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Uber Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $108.26.

Uber Technologies Stock Down 0.1%

UBER stock opened at $92.03 on Monday. The business’s 50-day moving average price is $95.46 and its 200-day moving average price is $91.32. The stock has a market cap of $191.21 billion, a P/E ratio of 11.83 and a beta of 1.46. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $101.99. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.37.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings data on Tuesday, November 4th. The ride-sharing company reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $2.44. Uber Technologies had a net margin of 33.54% and a return on equity of 68.17%. The firm had revenue of $13.47 billion during the quarter, compared to analysts’ expectations of $13.25 billion. During the same period in the prior year, the company posted $1.20 earnings per share. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. On average, equities research analysts forecast that Uber Technologies, Inc. will post 2.54 EPS for the current year.

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.