Getty

Former Uber CEO Travis Kalanick sold another $383 million worth of stock between December 16 and December 18, further shrinking his stake in the firm he founded.

Kalanick dumped nearly 12.8 million shares in the three-day period, according to a Securities and Exchange Commission filing. He cashed in more than 7.8 million shares on December 16 alone, making it his biggest day of selling since November 20.

The trades bring his total gain from stock sold to more than $2.4 billion.

Kalanick still holds about 8.2 million shares of the rideshare company, down from the 22.6 million he held before his selling streak began.

Watch Uber trade live here.

Former Uber chief executive Travis Kalanick unloaded another $383 million worth of stock between December 16 and December 18, chipping away at his stake in the company he founded.

The former CEO sold nearly 12.8 million shares in the three-day period, according to a Securities and Exchange Commission filing. The trades bring his total gain from sold stock to more than $2.4 billion.

Kalanick dumped more than 7.8 million shares on December 16 alone, making it his biggest day of selling since November 20, when he cashed in more than 10 million shares across two trades.

The founder still holds about 8.2 million shares, down from the 22.6 million he had before he began liquidating his position. The stake was worth nearly $250 million when Uber opened Thursday.

Kalanick kicked off his selling streak in early November after the rideshare company's post-IPO lockup period ended. Early investors were able to offload stock for the first time on November 6, and the subsequent sales dragged Uber's stock price to record lows.

The former Uber executive has since moved on to helm CloudKitchens, a venture that converts commercial space into leasable kitchens for delivery-only restaurants. Kalanick sank $300 million into the firm, and it received a $400 million investment from Saudi Arabia's sovereign-wealth fund in January. The Saudi backing valued CloudKitchens at about $5 billion.

Uber opened at $30.00 per share Thursday, down roughly 28% year-to-date.

The rideshare giant has 27 "buy" ratings, 11 "hold" ratings, and one "sell" rating from analysts, with a consensus price target of $44.03, according to Bloomberg data.

Now read more markets coverage from Markets Insider and Business Insider:

Goldman Sachs is reportedly in talks to admit guilt, pay $2 billion fine to settle probe into Malaysian investment fund

'The most anti-capitalist idea I could ever dream up': Billionaire investor Stanley Druckenmiller unloads on Trump's desire for negative interest rates

How the 27-year-old CEO of delivery app Glovo targeted Uber Eats' weak spots to hit a $1 billion valuation

Markets Insider

NOW WATCH: A big-money investor in juggernauts like Facebook and Netflix breaks down the '3rd wave' firms that are leading the next round of tech disruption