Uber, Snowflake Among Top Buys For CalSTRS In Q3 — These Big Tech Stocks Were Trimmed - Snowflake (NYSE:S

The California State Teachers Retirement System loaded up on shares of Uber Technologies Inc (NYSE: UBER) and Snowflake Inc (NYSE: SNOW) during the third quarter, according to SEC filings of the fund.

The retirement fund loaded up on over 26,000 shares of the ride-hailing company, taking the valuation of its holdings to over $72 million.

Uber’s third-quarter revenue increased 72% year-over-year to $8.3 billion, which beat average analyst estimates of $8.13 billion, according to data from Benzinga Pro. The company expects fourth-quarter gross bookings to grow 23% to 27% year-over-year to $30-31 billion. Fourth-quarter adjusted EBITDA is expected to be between $600 million and $630 million. Uber shares have gained over 18% in the last month.

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The fund also bought over 53,000 shares of Snowflake during the third quarter, taking the valuation of its holdings to over $69 million. Snowflake shares are up only 3.25% in the last six months.

Major Sale: The California State Teachers Retirement System offloaded shares of Microsoft Corp (NASDAQ: MSFT) and NVIDIA Corporation (NASDAQ: NVDA) during the quarter. The fund sold over 163,000 shares of Microsoft to bring down the valuation of its holding to over $2.82 billion, while it offloaded over 38,000 shares of Nvidia to trim the valuation of its holding to over $506 million.

Major Holdings: Apple Inc (NASDAQ: AAPL) and Microsoft are the top holdings of the fund.

SNOWSnowflake Inc

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UBERUber Technologies Inc

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