Allspring Global Investments Holdings LLC Sells 2,452,849 Shares of Uber Technologies, Inc. (NYSE:UBER)

Allspring Global Investments Holdings LLC trimmed its position in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 91.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 234,868 shares of the ride-sharing company's stock after selling 2,452,849 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Uber Technologies were worth $14,836,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. CENTRAL TRUST Co grew its stake in Uber Technologies by 12.3% during the third quarter. CENTRAL TRUST Co now owns 1,160 shares of the ride-sharing company's stock worth $87,000 after buying an additional 127 shares during the last quarter. DT Investment Partners LLC grew its stake in Uber Technologies by 21.4% during the third quarter. DT Investment Partners LLC now owns 821 shares of the ride-sharing company's stock worth $62,000 after buying an additional 145 shares during the last quarter. Jmac Enterprises LLC grew its stake in Uber Technologies by 2.1% during the third quarter. Jmac Enterprises LLC now owns 7,340 shares of the ride-sharing company's stock worth $552,000 after buying an additional 150 shares during the last quarter. Canopy Partners LLC grew its stake in Uber Technologies by 2.2% during the third quarter. Canopy Partners LLC now owns 6,958 shares of the ride-sharing company's stock worth $523,000 after buying an additional 151 shares during the last quarter. Finally, Drive Wealth Management LLC grew its stake in Uber Technologies by 3.1% during the fourth quarter. Drive Wealth Management LLC now owns 5,172 shares of the ride-sharing company's stock worth $312,000 after buying an additional 155 shares during the last quarter. 80.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

UBER has been the topic of several research analyst reports. UBS Group decreased their price target on shares of Uber Technologies from $114.00 to $107.00 and set a "buy" rating on the stock in a research note on Monday, February 3rd. Evercore ISI decreased their price target on shares of Uber Technologies from $120.00 to $115.00 and set an "outperform" rating on the stock in a research note on Thursday, February 6th. The Goldman Sachs Group reissued a "buy" rating and set a $96.00 price target on shares of Uber Technologies in a research note on Thursday, January 2nd. DA Davidson decreased their price target on shares of Uber Technologies from $84.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Finally, Piper Sandler reissued an "overweight" rating and set a $87.00 price target (up from $80.00) on shares of Uber Technologies in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $90.91.

Insider Activity at Uber Technologies

In related news, insider Jill Hazelbaker sold 31,000 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $81.02, for a total value of $2,511,620.00. Following the completion of the transaction, the insider now owns 86,973 shares of the company's stock, valued at approximately $7,046,552.46. This trade represents a 26.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.80% of the stock is owned by insiders.

Uber Technologies Stock Down 0.4 %

Shares of NYSE:UBER traded down $0.32 during midday trading on Wednesday, reaching $81.17. 14,960,000 shares of the company were exchanged, compared to its average volume of 29,508,832. Uber Technologies, Inc. has a fifty-two week low of $54.84 and a fifty-two week high of $87.00. The company has a quick ratio of 1.41, a current ratio of 1.07 and a debt-to-equity ratio of 0.37. The stock has a fifty day simple moving average of $67.27 and a two-hundred day simple moving average of $71.04. The firm has a market cap of $170.93 billion, a PE ratio of 17.80, a P/E/G ratio of 0.87 and a beta of 1.39.

Uber Technologies (NYSE:UBER - Get Free Report) last issued its quarterly earnings data 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 net margin of 22.41% and a return on equity of 62.60%. As a group, sell-side analysts forecast that Uber Technologies, Inc. will post 2.52 earnings per share for the current year.

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.