Allspring Global Investments Holdings LLC Raises Stock Holdings in Uber Technologies, Inc. $UBER

Allspring Global Investments Holdings LLC raised its position in shares of Uber Technologies, Inc. (NYSE:UBER) by 11.1% during the 2nd quarter, Holdings Channel reports. The fund owned 737,202 shares of the ride-sharing company’s stock after purchasing an additional 73,930 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Uber Technologies were worth $67,918,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Uber Technologies by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company’s stock worth $13,590,287,000 after acquiring an additional 5,759,353 shares in the last quarter. Pershing Square Capital Management L.P. purchased a new stake in shares of Uber Technologies during the 1st quarter worth approximately $2,207,743,000. Kingstone Capital Partners Texas LLC raised its holdings in shares of Uber Technologies by 334,075.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company’s stock worth $1,863,545,000 after acquiring an additional 19,967,705 shares in the last quarter. Northern Trust Corp raised its holdings in Uber Technologies by 3.9% during the 1st quarter. Northern Trust Corp now owns 19,240,638 shares of the ride-sharing company’s stock valued at $1,401,873,000 after buying an additional 720,122 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Uber Technologies by 3.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 13,667,322 shares of the ride-sharing company’s stock valued at $995,801,000 after buying an additional 394,157 shares during the period. 80.24% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Uber Technologies

In other news, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $99.42, for a total transaction of $273,405.00. Following the transaction, the chief financial officer owned 22,528 shares of the company’s stock, valued at approximately $2,239,733.76. This represents a 10.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dara Khosrowshahi sold 300,000 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $95.37, for a total value of $28,611,000.00. Following the transaction, the chief executive officer directly owned 1,132,544 shares in the company, valued at $108,010,721.28. The trade was a 20.94% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 601,821 shares of company stock worth $58,659,491. Insiders own 3.70% of the company’s stock.

Uber Technologies Stock Performance

UBER stock opened at $94.14 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.41. The business’s fifty day simple moving average is $94.98 and its two-hundred day simple moving average is $88.15. Uber Technologies, Inc. has a twelve month low of $59.33 and a twelve month high of $101.99. The firm has a market cap of $196.32 billion, a price-to-earnings ratio of 16.04 and a beta of 1.48.

Uber Technologies (NYSE:UBER) last released its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The business had revenue of $12.65 billion for the quarter, compared to analyst estimates of $12.45 billion. During the same quarter last year, the firm posted $0.47 earnings per share. The business’s revenue was up 18.2% compared to the same quarter last year. Analysts predict that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on UBER. BMO Capital Markets increased their price target on Uber Technologies from $101.00 to $113.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. KeyCorp increased their price target on Uber Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, July 14th. Canaccord Genuity Group restated a “hold” rating and set a $84.00 price target (down previously from $90.00) on shares of Uber Technologies in a report on Friday, June 27th. Royal Bank Of Canada increased their price target on Uber Technologies from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Finally, Piper Sandler increased their price target on Uber Technologies from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $104.03.

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.