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The Wall Street Journal: Uber gets knocked down a peg by top mutual funds

Four mutual-fund companies have marked down their investments in Uber Technologies Inc. by as much as 15%, the first such price cuts that suggest these investors are souring on the ride-hailing giant following a scandal-ridden year.

Vanguard Group, Principal PFG, +0.22% and Hartford Funds HIG, +0.51% all marked down their shares by 15% to $41.46 a share for the quarter ended June 30, according to the fund companies’ latest disclosure documents. T. Rowe Price Group Inc. TROW, +1.51% cut the estimated price of its Uber shares by about 12% to $42.70 for the same period.

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