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Uber Technologies Inc [UBER] Chief Executive Officer makes an insider sale of 1,000,000 shares worth 70,421,300.

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Uber Technologies Inc shares valued at $70,421,300 were sold by KHOSROWSHAHI DARA on Jun 17 ’24. At $70.42 per share, KHOSROWSHAHI DARA sold 1,000,000 shares. The insider’s holdings dropped to 1,266,114 shares worth approximately $89.86 million following the completion of this transaction.

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Also, West Tony sold 28,000 shares, netting a total of over 1,978,665 in proceeds. Following the sale of shares at $70.67 each, the insider now holds 96,945 shares.

Before that, West Tony had sold 89,234 shares from its account. In a trade valued at $6,083,660, the insider traded Uber Technologies Inc shares for $68.18 each. Upon closing the transaction, the insider’s holdings decreased to 89,234 shares, worth approximately $8.87 million.

As published in a research note from BTIG Research on February 22, 2024, Uber Technologies Inc [UBER] has been retained to a Buy and the price target has been revised to $90. Analysts at Needham resumed the stock at ‘”a Buy”‘ outlook in a report released in early February. As of January 24, 2024, Gordon Haskett has decreased its “Buy” rating to a “Hold” for UBER. Earlier on January 22, 2024, Needham resumed its rating. Their recommendation was “a Buy” for UBER stock.

Analyzing UBER Stock Performance

During the last five days, there has been a surge of approximately 0.17%. Over the course of the year, Uber Technologies Inc shares have jumped approximately 15.27%. Shares of the company reached a 52-week high of $82.14 on 03/04/24 and a 52-week low of $57.22 on 01/05/24. A 50-day SMA is recorded $68.09, while a 200-day SMA reached $63.61. Nevertheless, trading volume fell to 7.87 million shares from 14.32 million shares the previous day.

Support And Resistance Levels for Uber Technologies Inc (UBER)

According to the 24-hour chart, there is a support level at 70.49, which, if violated, would cause prices to drop to 69.67. In the upper region, resistance lies at 72.13. The next price resistance is at 72.95. RSI (Relative Strength Index) is 55.22 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.23, which suggests the price will decrease in the coming days. Percent R is at 44.75%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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