Teachers Retirement System of The State of Kentucky Invests $24.13 Million in Uber Technologies, Inc. (NYSE:UBER)

Teachers Retirement System of The State of Kentucky purchased a new position in shares of Uber Technologies, Inc. (NYSE:UBER) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 313,480 shares of the ride-sharing company’s stock, valued at approximately $24,134,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Invst LLC purchased a new position in shares of Uber Technologies during the first quarter worth $205,000. PGGM Investments purchased a new position in Uber Technologies in the first quarter valued at $686,000. Raelipskie Partnership purchased a new position in Uber Technologies in the first quarter valued at $647,000. Atria Investments Inc boosted its holdings in Uber Technologies by 6.0% in the first quarter. Atria Investments Inc now owns 104,105 shares of the ride-sharing company’s stock valued at $8,015,000 after purchasing an additional 5,859 shares during the period. Finally, Swedbank AB purchased a new position in Uber Technologies in the first quarter valued at $63,723,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. JMP Securities reiterated a “market outperform” rating and issued a $75.00 target price on shares of Uber Technologies in a report on Tuesday. TD Cowen raised their price target on Uber Technologies from $88.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group cut their price target on Uber Technologies from $103.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Piper Sandler raised their price target on Uber Technologies from $86.00 to $88.00 and gave the company an “overweight” rating in a research note on Tuesday, June 25th. Finally, Melius began coverage on Uber Technologies in a research note on Monday, July 22nd. They issued a “hold” rating and a $77.00 price target on the stock. Four research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.76.

Uber Technologies Stock Performance

Shares of NYSE UBER traded down $2.03 during midday trading on Friday, reaching $58.99. 27,654,556 shares of the company were exchanged, compared to its average volume of 16,050,067. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.80. Uber Technologies, Inc. has a 1 year low of $40.09 and a 1 year high of $82.14. The stock has a fifty day simple moving average of $68.37 and a 200 day simple moving average of $70.92. The stock has a market cap of $123.26 billion, a P/E ratio of 95.15, a PEG ratio of 1.37 and a beta of 1.36.

Uber Technologies (NYSE:UBER) last released its quarterly earnings results on Wednesday, May 8th. The ride-sharing company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.53). Uber Technologies had a return on equity of 12.81% and a net margin of 3.60%. The company had revenue of $10.13 billion for the quarter, compared to analysts’ expectations of $10.09 billion. During the same period in the prior year, the business earned ($0.08) EPS. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, research analysts forecast that Uber Technologies, Inc. will post 0.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Uber Technologies

In other Uber Technologies news, insider Tony West sold 18,750 shares of Uber Technologies stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $65.63, for a total value of $1,230,562.50. Following the sale, the insider now owns 206,338 shares of the company’s stock, valued at approximately $13,541,962.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Uber Technologies news, insider Tony West sold 18,750 shares of Uber Technologies stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $65.63, for a total value of $1,230,562.50. Following the sale, the insider now owns 206,338 shares of the company’s stock, valued at approximately $13,541,962.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dara Khosrowshahi sold 500,000 shares of Uber Technologies stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $71.91, for a total value of $35,955,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,266,114 shares in the company, valued at approximately $91,046,257.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,135,984 shares of company stock valued at $78,213,297. 3.84% of the stock is owned by corporate insiders.

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.