William Blair Investment Management LLC Trims Position in Uber Technologies, Inc. $UBER

Key Points

• William Blair Investment Management LLC has reduced its stake in Uber Technologies by 5.6% in the second quarter, now holding approximately 2.75 million shares valued at $256.8 million.
• Several institutional investors have increased their holdings in Uber, with Vanguard Group growing its stake by 3.2% and others like Kingstone Capital Partners seeing massive increases of 334,075.7%.
• Uber reported a Q2 earnings per share of $0.63, beating estimates, and saw an 18.2% year-over-year revenue growth, totaling $12.65 billion for the quarter.

William Blair Investment Management LLC lessened its stake in shares of Uber Technologies, Inc. (NYSE:UBER - Free Report) by 5.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,752,538 shares of the ride-sharing company's stock after selling 162,162 shares during the quarter. Uber Technologies comprises 0.7% of William Blair Investment Management LLC's portfolio, making the stock its 28th largest holding. William Blair Investment Management LLC owned approximately 0.13% of Uber Technologies worth $256,812,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Uber Technologies by 3.2% during the first quarter. Vanguard Group Inc. now owns 186,526,036 shares of the ride-sharing company's stock worth $13,590,287,000 after purchasing an additional 5,759,353 shares in the last quarter. Pershing Square Capital Management L.P. purchased a new position in shares of Uber Technologies during the first quarter worth about $2,207,743,000. Kingstone Capital Partners Texas LLC grew its holdings in shares of Uber Technologies by 334,075.7% during the second quarter. Kingstone Capital Partners Texas LLC now owns 19,973,682 shares of the ride-sharing company's stock worth $1,863,545,000 after purchasing an additional 19,967,705 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Uber Technologies by 3.9% during the first quarter. Northern Trust Corp now owns 19,240,638 shares of the ride-sharing company's stock worth $1,401,873,000 after purchasing an additional 720,122 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Uber Technologies by 3.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 13,667,322 shares of the ride-sharing company's stock worth $995,801,000 after purchasing an additional 394,157 shares in the last quarter. Hedge funds and other institutional investors own 80.24% of the company's stock.

Uber Technologies Stock Performance

Shares of UBER stock opened at $92.29 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.11 and a current ratio of 1.11. Uber Technologies, Inc. has a fifty-two week low of $59.33 and a fifty-two week high of $101.99. The stock has a 50 day moving average price of $95.22 and a two-hundred day moving average price of $88.50. The company has a market capitalization of $192.47 billion, a P/E ratio of 15.72 and a beta of 1.48.

Uber Technologies (NYSE:UBER - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.02. Uber Technologies had a return on equity of 59.96% and a net margin of 26.68%.The firm had revenue of $12.65 billion during the quarter, compared to the consensus estimate of $12.45 billion. During the same quarter in the previous year, the company posted $0.47 earnings per share. The business's revenue was up 18.2% on a year-over-year basis. Analysts expect that Uber Technologies, Inc. will post 2.54 earnings per share for the current year.

Insider Transactions at Uber Technologies

In other Uber Technologies news, insider Tony West sold 100,000 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $100.38, for a total value of $10,038,000.00. Following the completion of the sale, the insider owned 171,558 shares in the company, valued at approximately $17,220,992.04. The trade was a 36.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Nikki Krishnamurthy sold 11,571 shares of the business's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $91.74, for a total value of $1,061,523.54. Following the completion of the sale, the senior vice president owned 416,222 shares of the company's stock, valued at $38,184,206.28. The trade was a 2.70% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 601,821 shares of company stock valued at $58,659,491. Insiders own 3.84% of the company's stock.

Analysts Set New Price Targets

UBER has been the subject of several recent analyst reports. Mizuho initiated coverage on Uber Technologies in a report on Monday, September 29th. They set an "outperform" rating and a $130.00 price objective for the company. Weiss Ratings reissued a "buy (b-)" rating on shares of Uber Technologies in a report on Tuesday. Wells Fargo & Company cut their price objective on Uber Technologies from $127.00 to $125.00 and set an "overweight" rating for the company in a report on Friday, October 3rd. Royal Bank Of Canada boosted their price objective on Uber Technologies from $94.00 to $100.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Finally, Raymond James Financial boosted their target price on Uber Technologies from $100.00 to $105.00 and gave the stock a "strong-buy" rating in a research report on Thursday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $105.68.

Uber Technologies Company 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.

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