Allspring Global Investments Holdings LLC Grows Stock Holdings in Uber Technologies, Inc. (NYSE:UBER)

Allspring Global Investments Holdings LLC boosted its position in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 182.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 663,272 shares of the ride-sharing company's stock after acquiring an additional 428,404 shares during the period. Allspring Global Investments Holdings LLC's holdings in Uber Technologies were worth $48,412,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Transce3nd LLC purchased a new stake in Uber Technologies in the 4th quarter worth approximately $27,000. Fourth Dimension Wealth LLC purchased a new stake in Uber Technologies in the 4th quarter worth approximately $27,000. Kozak & Associates Inc. grew its stake in Uber Technologies by 155.9% in the 1st quarter. Kozak & Associates Inc. now owns 366 shares of the ride-sharing company's stock worth $27,000 after acquiring an additional 223 shares during the period. Noble Wealth Management PBC purchased a new stake in Uber Technologies in the 1st quarter worth approximately $27,000. Finally, Runnymede Capital Advisors Inc. purchased a new stake in Uber Technologies in the 4th quarter worth approximately $28,000. 80.24% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Uber Technologies

In other news, insider Jill Hazelbaker sold 34,884 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $86.03, for a total transaction of $3,001,070.52. Following the completion of the sale, the insider now owns 102,135 shares of the company's stock, valued at $8,786,674.05. This represents a 25.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Prashanth Mahendra-Rajah sold 2,750 shares of the firm's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $85.00, for a total transaction of $233,750.00. Following the completion of the transaction, the chief financial officer now directly owns 21,063 shares of the company's stock, valued at approximately $1,790,355. This trade represents a 11.55% decrease in their position. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on UBER shares. Loop Capital reaffirmed a "buy" rating and issued a $105.00 target price (up from $89.00) on shares of Uber Technologies in a research note on Wednesday, May 21st. TD Cowen lowered their price objective on shares of Uber Technologies from $90.00 to $88.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. UBS Group boosted their price objective on shares of Uber Technologies from $103.00 to $107.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. KeyCorp boosted their price objective on shares of Uber Technologies from $80.00 to $90.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $106.00 price objective (up from $96.00) on shares of Uber Technologies in a research note on Wednesday, June 25th. Twelve analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $94.85.

Uber Technologies Price Performance

NYSE:UBER opened at $91.54 on Monday. The firm has a market cap of $191.43 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 1.16 and a beta of 1.38. Uber Technologies, Inc. has a 12 month low of $54.84 and a 12 month high of $94.38. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The company's 50-day moving average price is $85.16 and its two-hundred day moving average price is $75.40.

Uber Technologies (NYSE:UBER - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The ride-sharing company reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.33. Uber Technologies had a net margin of 27.07% and a return on equity of 66.46%. The firm had revenue of $11.53 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same period in the previous year, the business earned ($0.32) earnings per share. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal 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.

Want to see what other hedge funds are holding UBER? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Uber Technologies, Inc. (NYSE:UBER - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.