Annex Advisory Services 13F: Cuts UBER Stake by $35M

Annex Advisory Services disclosed a significant reduction in its holdings of Uber Technologies, Inc. (NYSE: UBER) in a filing on October 16, 2026. The firm cut its position by 510,619 shares, leaving it with 14,632 shares worth approximately $1,002,438. This represents a decrease of 97.2% from its previous total of 525,251 shares.

What Changed in Annex Advisory Services' Uber Position

The reduction reflects a strategic decision by Annex Advisory Services, reducing its stake substantially. This action indicates a shift in the firm's investment strategy or confidence in Uber's future performance, although it remains unclear what prompted such a drastic change.

Other Institutional Activity in Uber

Several other institutional investors have adjusted their stakes in Uber recently. Blackrock Inc. decreased its holdings by 5,012,615 shares to end with 145,969,768 shares worth about $10.3 billion. Vanguard Capital Management reduced its position by 829,059 shares, bringing its total to 132,890,128 shares valued at approximately $9.3 billion. State Street Corporation also lowered its stake by 951,753 shares, maintaining 89,691,411 shares worth about $6.3 billion. These changes reflect a trend among large investors that may impact market sentiment around Uber.

Uber Technologies, Inc. Stock Up 1.5%

Uber shares recently traded around $70.12 as of October 16, 2026. The stock is currently below its 50-day moving average of $73.04 and its 200-day moving average of $74.32. Additionally, it is about 30.1% lower than its 52-week high of $100.35, indicating a challenging performance period for the company.

Recent Earnings

Uber reported trailing twelve-month revenue of approximately $55.2 billion and an earnings per share (EPS) of $4.56. The next earnings report is scheduled for November 4, 2026, which could provide further insight into the company's financial health and future outlook.

Insider Buying and Selling at Uber Technologies, Inc.

Recent insider activity includes sales from Jill Hazelbaker, President and Chief Corporate Affairs Officer, who sold 9,161 shares on June 16, 2026. Meanwhile, Glen Ceremony, Chief Accounting Officer, bought 3,611 shares on the same day. Andrew Macdonald, President and Chief Operating Officer, also acquired 10,168 shares on June 16, indicating varied insider sentiment towards the stock.

Analysts Set New Price Targets

On October 16, 2026, Guggenheim reiterated its Buy rating for Uber Technologies with a price target of $125. Earlier, Wells Fargo maintained its Overweight rating, raising its target to $92 on October 5. Citizens and BTIG also reiterated their ratings with a target of $100. The consensus recommendation among analysts remains a Buy, with a mean price target around $100.86.

About Uber Technologies, Inc.

Uber Technologies, Inc. develops and operates technology applications for ride-sharing, food delivery, and freight services. With a strong presence in multiple regions, its business model has been crucial in transforming urban mobility and logistics. The recent cuts by institutional investors may hint at changing market perceptions about its growth prospects.

Bottom Line

As Uber approaches its next earnings date on November 4, 2026, investors will be watching closely for any updates that could influence market sentiment. The recent institutional changes, particularly by significant players like Annex Advisory Services, highlight ongoing shifts in perception about the company's future performance. Keep in mind that this filing reflects holdings as of the reporting period and may not represent current positions.