Uber: Insider Buying and Selling Activity to Watch Amid Panic After Tesla Cybercab Rollout

Recent videos of Tesla Cybercabs hailing automatically have raised concerns for Uber Technologies Inc. (NYSE:UBER). The company believes the new self-driving ride-sharing service could reduce its market share, and some reports suggest that Tesla's robotaxi rides are cheaper than Uber's. Despite these concerns, there have been insider buying and selling activities that are worth noting.

CEO Dara Khosrowshahi purchased 141,000 shares of UBER stock between $70.73 and $71.18 per share. President and COO Andrew Macdonald added to his holdings by buying 70,000 shares in two transactions at prices ranging from $75.65 to $76.44 per share. These purchases helped him increase his share count to approximately 426,000 shares.

However, not all activity was positive. Chief Corporate Officer Jill Hazelbaker sold 28,170 shares at $71.31 per share. Despite insider selling, Uber's competitive advantages and global reach may help the company weather potential challenges posed by Tesla's Cybercab rollout.