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

State of Michigan Retirement System lessened its stake in Uber Technologies, Inc. (NYSE:UBER) by 0.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of UBER. Jennison Associates LLC raised its stake in Uber Technologies by 36.9% in the fourth quarter. Jennison Associates LLC now owns 26,460,312 shares of the ride-sharing company’s stock valued at $1,596,086,000 after purchasing an additional 7,137,512 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Uber Technologies by 670.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 6,611,557 shares of the ride-sharing company’s stock valued at $398,809,000 after purchasing an additional 5,753,637 shares in the last quarter. Montrusco Bolton Investments Inc. acquired a new position in Uber Technologies in the fourth quarter valued at about $166,072,000. Edgewood Management LLC raised its stake in Uber Technologies by 10.5% in the third quarter. Edgewood Management LLC now owns 27,552,060 shares of the ride-sharing company’s stock valued at $2,070,813,000 after purchasing an additional 2,627,768 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in Uber Technologies by 1,370.1% in the fourth quarter. Nordea Investment Management AB now owns 2,215,053 shares of the ride-sharing company’s stock valued at $134,144,000 after purchasing an additional 2,064,382 shares in the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Loop Capital boosted their price target on Uber Technologies from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Citizens Jmp downgraded Uber Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Arete Research raised Uber Technologies to a “hold” rating in a research note on Tuesday, February 18th. Wells Fargo & Company lowered their target price on Uber Technologies from $90.00 to $87.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Finally, Evercore ISI lowered their target price on Uber Technologies from $120.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, February 6th. Eight equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.94.

Insiders Place Their Bets

In other Uber Technologies news, insider Jill Hazelbaker sold 31,000 shares of Uber Technologies stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total value of $2,511,620.00. Following the transaction, the insider now directly owns 86,973 shares of the company’s stock, valued at $7,046,552.46. The trade was a 26.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.84% of the company’s stock.

Uber Technologies Stock Performance

Shares of NYSE UBER opened at $74.37 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. The stock’s 50-day moving average is $69.78 and its 200 day moving average is $71.54. The stock has a market cap of $155.36 billion, a price-to-earnings ratio of 16.31, a P/E/G ratio of 0.89 and a beta of 1.39. Uber Technologies, Inc. has a 1-year low of $54.84 and a 1-year high of $87.00.

Uber Technologies (NYSE:UBER) last announced its quarterly earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 EPS for the quarter, topping analysts’ consensus estimates 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 anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

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.