William Blair Investment Management LLC Reduces Its Stake in Uber Technologies, Inc.

William Blair Investment Management LLC has decreased its investment in Uber Technologies, Inc. (NYSE:UBER - Free Report) by 24.8% during the fourth quarter, as revealed in its latest 13F filing with the Securities and Exchange Commission. Following this adjustment, the institutional investor now holds 3,722,571 shares of the ride-sharing company after selling 1,224,586 shares during the quarter. At the conclusion of this period, William Blair Investment Management owned approximately 0.18% of Uber Technologies, which was valued at around $224,545,000.

A variety of other hedge funds and institutional investors have also been active in buying and selling shares of Uber. For instance, during the third quarter, the Teachers Retirement System of The State of Kentucky increased its stake in Uber Technologies by 4.4%, bringing its share count to 321,726, valued at $24,180,000 after adding 13,433 shares. Additionally, Aviso Wealth Management acquired a new position in Uber worth approximately $2,302,000 during the same quarter, while Polianta Ltd invested about $1,206,000 in the fourth quarter. Allworth Financial LP also expanded its investment by 8.9%, owning 20,381 shares worth about $1,229,000 after purchasing an extra 1,663 shares. Moreover, Brophy Wealth Management LLC established a new position valued at around $1,041,000 in the third quarter. Notably, institutional investors collectively own 80.24% of Uber’s stock.

Insider Selling Activity

In related news, Jill Hazelbaker, an insider at Uber Technologies, sold 31,000 shares in a transaction executed on February 18. She sold these shares at an average price of $81.02, totaling $2,511,620. Following this sale, Hazelbaker retains ownership of 86,973 shares valued at approximately $7,046,552.46, representing a 26.28% reduction in her shareholding. This transaction was reported to the SEC, and more details can be found on the SEC’s official website. Company insiders collectively own about 3.84% of Uber’s stock.

Analysts' Opinions

Several research firms have recently provided insights on Uber Technologies. Piper Sandler reiterated an "overweight" rating and lifted its price target on Uber shares to $87.00 from a prior $80.00. Meanwhile, Cantor Fitzgerald maintained its "overweight" rating with a target price of $80.00. However, Fox Advisors downgraded their evaluation from "overweight" to an "equal weight" rating. Additionally, JPMorgan Chase & Co. reduced its target price from $95.00 to $90.00 while keeping an "overweight" rating. Arete Research also upgraded the rating to "hold" recently. Currently, there are ten analysts who have rated the stock with a hold rating, 26 with a buy rating, and one with a strong buy rating, giving Uber a consensus rating of "Moderate Buy" with an average target price of $90.31.

Stock Performance Overview

On Monday, Uber shares opened at $71.67. The company has a 50-day moving average of $71.85 and a 200-day moving average of $71.55. Other financial metrics include a quick ratio of 1.41, a current ratio of 1.07, and a debt-to-equity ratio of 0.37. Over the past year, Uber Technologies has seen its stock hit a low of $54.84 and a high of $87.00. The current market capitalization stands at $149.71 billion, with a price-to-earnings (P/E) ratio of 15.72 and a price-to-earnings growth (PEG) ratio of 0.89, alongside a beta of 1.39.

Uber published its latest quarterly earnings report on February 5, revealing earnings per share of $3.21, significantly surpassing analysts' expectations of $0.50 by $2.71. The company reported a net profit margin of 22.41% and a return on equity of 62.60%. Analysts project that Uber Technologies will report earnings per share of 2.54 for the current year.

About Uber Technologies, Inc.

Uber Technologies, Inc. is a company that develops and operates technology applications in various regions, including the U.S., Canada, Latin America, Europe, the Middle East, Africa, and parts of Asia, excluding China and Southeast Asia. Uber operates through three primary segments: Mobility, Delivery, and Freight. The Mobility segment connects consumers with various transportation options, including ridesharing, carsharing, micromobility, rentals, public transit, and taxis, while also providing a range of financial products and advertising services.

Uber, Investment, Shares