Uber shares rise after CEO buys $10M of stock

Investing.com -- Uber Technologies Inc. shares rose more than 2.8% on Thursday after Chief Executive Officer Dara Khosrowshahi purchased $10 million worth of company stock.

Khosrowshahi bought 141,000 shares of UBER common stock at a weighted average price of $70.9642 per share, according to a regulatory filing with the U.S. Securities and Exchange Commission. Individual transactions in the purchase ranged from $70.73 to $71.18 per share.

After the transaction, the CEO directly holds 1,367,100 shares of Uber common stock.

The ride-hailing company's stock is down roughly 12% year-to-date.

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