Uber Technologies Inc. (NYSE:UBER) stock rose Friday after CEO Dara Khosrowshahi bought about $10 million of company stock.
CEO Buys 141,000 Shares
Khosrowshahi purchased 141,000 Uber shares Thursday at a weighted average price of $70.9642, according to a Form 4 filing with the U.S. Securities and Exchange Commission.
The shares were bought at prices ranging from $70.73 to $71.18. The transaction was valued at about $10 million.
Khosrowshahi’s purchase followed another sizable insider buy. President and Chief Operating Officer Andrew Macdonald purchased 70,000 Uber shares on Sept. 4 for about $5.3 million.
