California State Teachers Retirement System Acquires 26,030 Shares of Uber Technologies, Inc. (NYSE:UBER)

Posted by on Mar 16th, 2023

California State Teachers Retirement System lifted its position in Uber Technologies, Inc. (NYSE:UBER – Get Rating) by 1.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,720,261 shares of the ride-sharing company’s stock after buying an additional 26,030 shares during the period. California State Teachers Retirement System owned approximately 0.14% of Uber Technologies worth $72,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of UBER. CIBC Asset Management Inc lifted its position in Uber Technologies by 3.9% during the third quarter. CIBC Asset Management Inc now owns 86,892 shares of the ride-sharing company’s stock valued at $2,303,000 after purchasing an additional 3,300 shares in the last quarter. AXA S.A. bought a new stake in Uber Technologies during the third quarter worth approximately $218,000. Signaturefd LLC increased its stake in Uber Technologies by 66.0% during the third quarter. Signaturefd LLC now owns 19,134 shares of the ride-sharing company’s stock worth $507,000 after acquiring an additional 7,606 shares during the last quarter. Orion Portfolio Solutions LLC bought a new stake in Uber Technologies during the third quarter worth approximately $277,000. Finally, Cetera Advisor Networks LLC increased its stake in Uber Technologies by 11.3% during the second quarter. Cetera Advisor Networks LLC now owns 115,843 shares of the ride-sharing company’s stock worth $2,370,000 after acquiring an additional 11,747 shares during the last quarter. 71.83% of the stock is currently owned by hedge funds and other institutional investors.

Uber Technologies Stock Performance

Shares of UBER stock opened at $31.97 on Thursday. The business’s fifty day simple moving average is $32.05 and its 200-day simple moving average is $29.35. The company has a market cap of $64.26 billion, a PE ratio of -6.82 and a beta of 1.22. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.15. Uber Technologies, Inc. has a 12-month low of $19.90 and a 12-month high of $37.58.

Uber Technologies (NYSE:UBER – Get Rating) last issued its quarterly earnings results on Wednesday, February 8th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.50. The business had revenue of $8.61 billion for the quarter, compared to the consensus estimate of $8.51 billion. Uber Technologies had a negative return on equity of 114.18% and a negative net margin of 28.68%. The business’s quarterly revenue was up 49.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 earnings per share. Analysts expect that Uber Technologies, Inc. will post -0.26 earnings per share for the current fiscal year.

Insider Transactions at Uber Technologies

In related news, insider Tony West sold 4,167 shares of the company’s stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $32.54, for a total value of $135,594.18. Following the transaction, the insider now directly owns 166,973 shares of the company’s stock, valued at approximately $5,433,301.42. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.92% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on UBER shares. Raymond James upped their target price on Uber Technologies from $38.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, February 9th. Citigroup upped their target price on Uber Technologies from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, February 9th. Oppenheimer upped their target price on Uber Technologies from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, February 9th. Cowen cut their target price on Uber Technologies from $70.00 to $66.00 in a research note on Thursday, January 26th. Finally, Jefferies Financial Group began coverage on Uber Technologies in a research note on Monday, January 9th. They set a “buy” rating and a $38.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.19.

About Uber Technologies

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Uber Technologies, Inc operates as a technology platform for people and things mobility. The firm offers ride services and merchants delivery service providers for meal preparation, grocery and other delivery services. It operates through the following segments: Mobility, Delivery and Freight. The Mobility segment refers to products that connect consumers with Mobility Drivers who provide rides in a variety of vehicles, such as cars, auto rickshaws, motorbikes, minibuses, or taxis.

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Institutional Ownership by Quarter for Uber Technologies (NYSE:UBER)

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