William Blair Investment Management LLC Cuts Stock Holdings in Uber Technologies, Inc. (NYSE:UBER)

William Blair Investment Management LLC lowered its stake in Uber Technologies, Inc. (NYSE:UBER) by 24.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,722,571 shares of the ride-sharing company’s stock after selling 1,224,586 shares during the quarter. William Blair Investment Management LLC’s holdings in Uber Technologies were worth $224,545,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Welch & Forbes LLC increased its holdings in shares of Uber Technologies by 3.9% in the 4th quarter. Welch & Forbes LLC now owns 3,936 shares of the ride-sharing company’s stock worth $237,000 after buying an additional 148 shares during the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC boosted its position in Uber Technologies by 3.5% in the 4th quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 4,381 shares of the ride-sharing company’s stock valued at $282,000 after buying an additional 150 shares during the period. Canopy Partners LLC boosted its position in Uber Technologies by 2.2% in the 3rd quarter. Canopy Partners LLC now owns 6,958 shares of the ride-sharing company’s stock valued at $523,000 after buying an additional 151 shares during the period. Drive Wealth Management LLC boosted its position in Uber Technologies by 3.1% in the 4th quarter. Drive Wealth Management LLC now owns 5,172 shares of the ride-sharing company’s stock valued at $312,000 after buying an additional 155 shares during the period. Finally, Institute for Wealth Management LLC. raised its holdings in shares of Uber Technologies by 2.4% in the 4th quarter. Institute for Wealth Management LLC. now owns 6,606 shares of the ride-sharing company’s stock valued at $398,000 after purchasing an additional 155 shares in the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.

Insider Activity

In other news, insider Jill Hazelbaker sold 31,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $81.02, for a total transaction of $2,511,620.00. Following the completion of the transaction, the insider now directly owns 86,973 shares in the company, valued at $7,046,552.46. The trade was a 26.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.84% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $80.00 price objective on shares of Uber Technologies in a research note on Thursday, February 6th. JPMorgan Chase & Co. dropped their price objective on shares of Uber Technologies from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $82.00 price objective on shares of Uber Technologies in a report on Thursday, February 6th. Wolfe Research increased their price target on shares of Uber Technologies from $90.00 to $92.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, Benchmark reaffirmed a “hold” rating on shares of Uber Technologies in a report on Friday, January 31st. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $90.31.

Uber Technologies Price Performance

Shares of Uber Technologies stock opened at $71.67 on Monday. The company has a current ratio of 1.07, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. The company’s 50-day moving average price is $71.85 and its two-hundred day moving average price is $71.55. Uber Technologies, Inc. has a 52 week low of $54.84 and a 52 week high of $87.00. The stock has a market cap of $149.71 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 0.89 and a beta of 1.39.

Uber Technologies (NYSE:UBER) last released its earnings results on Wednesday, February 5th. The ride-sharing company reported $3.21 earnings per share for the quarter, beating the consensus estimate of $0.50 by $2.71. Uber Technologies had a return on equity of 62.60% and a net margin of 22.41%. As a group, sell-side analysts anticipate that Uber Technologies, Inc. will post 2.54 EPS for the current fiscal year.

Uber Technologies Profile

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.