Retirement Systems of Alabama Makes New $72.04 Million Investment in Uber Technologies, Inc. (NYSE:UBER)

Retirement Systems of Alabama purchased a new position in shares of Uber Technologies, Inc. (NYSE:UBER) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,170,046 shares of the ride-sharing company’s stock, valued at approximately $72,040,000. Retirement Systems of Alabama owned approximately 0.06% of Uber Technologies as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Magnus Financial Group LLC bought a new stake in shares of Uber Technologies during the 4th quarter worth about $285,000. Convergence Investment Partners LLC bought a new stake in Uber Technologies during the 4th quarter valued at approximately $261,000. Transcend Capital Advisors LLC boosted its stake in Uber Technologies by 2.8% during the 4th quarter. Transcend Capital Advisors LLC now owns 41,819 shares of the ride-sharing company’s stock valued at $2,575,000 after purchasing an additional 1,142 shares during the period. Unique Wealth Strategies LLC bought a new stake in Uber Technologies during the 4th quarter valued at approximately $466,000. Finally, Precision Wealth Strategies LLC bought a new stake in Uber Technologies during the 4th quarter valued at approximately $444,000. Institutional investors own 80.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on UBER shares. Argus increased their target price on Uber Technologies from $69.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, March 4th. Piper Sandler increased their target price on Uber Technologies from $78.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. Susquehanna increased their target price on Uber Technologies from $60.00 to $85.00 and gave the stock a “positive” rating in a report on Thursday, February 8th. JPMorgan Chase & Co. increased their target price on Uber Technologies from $84.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, February 15th. Finally, The Goldman Sachs Group raised their price target on Uber Technologies from $59.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Two investment analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $78.94.

Uber Technologies Stock Performance

Shares of NYSE:UBER traded down $0.26 during trading on Friday, reaching $69.05. 16,187,639 shares of the stock were exchanged, compared to its average volume of 17,118,054. Uber Technologies, Inc. has a 12 month low of $29.22 and a 12 month high of $82.14. The firm has a market cap of $143.72 billion, a PE ratio of 80.29, a PEG ratio of 1.09 and a beta of 1.36. The stock has a 50-day moving average price of $76.30 and a 200-day moving average price of $64.48. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.79.

Uber Technologies (NYSE:UBER) last issued its quarterly earnings data on Wednesday, February 7th. The ride-sharing company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.50. The company had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.76 billion. Uber Technologies had a return on equity of 18.95% and a net margin of 5.06%. The business’s revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.29 earnings per share. Research analysts expect that Uber Technologies, Inc. will post 1.22 EPS for the current fiscal year.

Insider Activity at Uber Technologies

In other Uber Technologies news, insider Jill Hazelbaker sold 20,000 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $77.83, for a total transaction of $1,556,600.00. Following the completion of the sale, the insider now directly owns 107,290 shares in the company, valued at $8,350,380.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Uber Technologies news, insider Tony West sold 18,750 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $70.08, for a total transaction of $1,314,000.00. Following the completion of the sale, the insider now directly owns 185,566 shares in the company, valued at $13,004,465.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jill Hazelbaker sold 20,000 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $77.83, for a total transaction of $1,556,600.00. Following the transaction, the insider now owns 107,290 shares of the company’s stock, valued at $8,350,380.70. The disclosure for this sale can be found here. 3.84% of the stock is currently owned by corporate insiders.

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.