With the stocks of Uber Technologies (NYSE: UBER) stagnating in the past week after returning into the $70 area, albeit below this year’s high of $81.39, certain insider transactions have caught the attention of outside observers, particularly the trades by Uber’s CEO.
As it happens, Uber’s CEO Dara Khosrowshahi sold a whopping 1 million UBER shares last week at an average price of $70.42, which brought him a profit of about $70.42 million, according to the recent information shared in an X post by pseudonymous markets analyst Barchart on June 24.
Specifically, with this recent sale, which happened on June 17, 2024, Khosrowshahi has reduced the number of UBER shares he holds to around 1.3 million, or to a percentage of 0.0606% of the total Uber stock, as per a detailed analysis of this insider trade.
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Interestingly, Khosrowshahi’s latest UBER stock sale happened exactly one month after he sold $33,000,000 worth of shares on May 17, 2024, in what was his first time selling since November 2023, according to the information posted by trading platform TrendSpider on May 20.
Uber stock price analysis
So, how much is Uber stock at the moment? Notably, Uber shares were at press time changing hands at the price of $70.30, which suggests a decline of 0.13% on the day, a 0.79% drop across the past week while gaining 10.67% in the last month, adding up to the 20.41% increase accumulated in 2024.
Considering such a performance, Khosrowshahi may have taken the opportunity to profit off the stock’s recent price increase before a big market correction that he might feel is coming, but opposite to Wall Street analysts who have almost unanimously rated it as a ‘strong buy,’ with the UBER stock forecast of $87.86 in the next 12 months.
That said, stock market trends can sometimes change without any warning, so doing one’s own research and analysis, carefully weighing all the risks involved, and keeping up with any relevant news and developments is critical when investing.
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