Alexander Charles Hungate Sells 144,093 Shares of Grab (NASDAQ:GRAB) Stock

Grab Holdings Limited (NASDAQ:GRAB) COO Alexander Charles Hungate sold 144,093 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $3.45, for a total transaction of $497,120.85. Following the completion of the sale, the chief operating officer owned 6,254,023 shares of the company’s stock, valued at approximately $21,576,379.35. The trade was a 2.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Grab Stock Performance

Shares of NASDAQ GRAB traded down $0.03 during trading hours on Thursday, reaching $3.46. The stock had a trading volume of 42,393,226 shares, compared to its average volume of 52,211,468. The company has a market cap of $14.18 billion, a price-to-earnings ratio of 346.35, a PEG ratio of 1.58 and a beta of 0.89. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.67 and a quick ratio of 1.65. The business’s fifty day moving average is $3.63 and its two-hundred day moving average is $4.10. Grab Holdings Limited has a twelve month low of $3.18 and a twelve month high of $6.62.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The business had revenue of $955.00 million for the quarter, compared to the consensus estimate of $921.71 million. Grab had a return on equity of 5.79% and a net margin of 10.67%. As a group, research analysts expect that Grab Holdings Limited will post 0.08 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. JPMorgan Chase & Co. reduced their target price on Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a report on Tuesday, May 5th. Mizuho dropped their target price on shares of Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. China Renaissance raised Grab from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a research note on Wednesday, May 6th. Zacks Research raised shares of Grab from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Finally, Weiss Ratings upgraded Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $6.19.

Institutional Investors Weigh In On Grab

Several institutional investors and hedge funds have recently added to or reduced their stakes in GRAB. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Grab during the fourth quarter worth about $25,000. Parallel Advisors LLC boosted its stake in shares of Grab by 305.5% during the 4th quarter. Parallel Advisors LLC now owns 6,107 shares of the company’s stock worth $30,000 after acquiring an additional 4,601 shares during the period. Advisory Services Network LLC acquired a new position in shares of Grab in the third quarter valued at $38,000. Signaturefd LLC grew its stake in Grab by 64.6% in the 4th quarter. Signaturefd LLC now owns 6,479 shares of the company’s stock valued at $32,000 after buying an additional 2,543 shares during the last quarter. Finally, Larson Financial Group LLC increased its stake in shares of Grab by 162,500.0% during the third quarter. Larson Financial Group LLC now owns 6,504 shares of the company’s stock worth $39,000 after purchasing an additional 6,500 shares during the period. 55.52% of the stock is owned by institutional investors.

About Grab

Grab Holdings Inc is a Singapore-based technology company that operates a consumer-facing “super app” across Southeast Asia offering services spanning ride-hailing, food and package delivery, and digital payments. Its platform connects consumers, drivers, merchants and delivery partners through mobile applications and supports on-demand mobility (taxi and private car), last-mile logistics, and on-demand food delivery under brands such as GrabFood and GrabExpress. The company has also developed a merchant-facing ecosystem that supports ordering, payment acceptance and loyalty functions.

Beyond transportation and delivery, Grab has expanded into financial services through Grab Financial Group, which provides digital payments via GrabPay, consumer lending, insurance distribution and small-business financial solutions.