Alexander Charles Hungate Sells 145,349 Shares of Grab (NASDAQ:GRAB) Stock

Grab Holdings Limited (NASDAQ:GRAB) COO Alexander Hungate sold 145,349 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $3.48, for a total transaction of $505,814.52. Following the completion of the sale, the chief operating officer directly owned 6,111,979 shares in the company, valued at $21,269,686.92. This trade represents a 2.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alexander Charles Hungate also recently made the following trade(s):

• On Tuesday, June 23rd, Alexander Hungate sold 144,093 shares of Grab stock. The stock was sold at an average price of $3.45, for a total transaction of $497,120.85.

Grab Price Performance

Shares of Grab stock remained flat at $3.42 during trading on Friday. The company had a trading volume of 25,856,130 shares, compared to its average volume of 31,750,090. Grab Holdings Limited has a 1 year low of $3.18 and a 1 year high of $6.62. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.52 and a quick ratio of 1.51. The stock has a fifty day moving average of $3.62 and a 200 day moving average of $3.70. The stock has a market cap of $14.01 billion, a PE ratio of 57.01, a price-to-earnings-growth ratio of 0.90 and a beta of 0.89.

Grab (NASDAQ:GRAB) last announced its earnings results on Tuesday, August 4th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The firm had revenue of $997.00 million for the quarter, compared to analysts’ expectations of $994.97 million. Grab had a return on equity of 8.83% and a net margin of 15.97%. Analysts predict that Grab Holdings Limited will post 0.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on GRAB shares. Morgan Stanley reiterated an “overweight” rating and set a $6.25 price objective on shares of Grab in a research report on Tuesday, June 30th. Zacks Research upgraded shares of Grab from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Barclays decreased their price target on shares of Grab from $7.00 to $5.00 and set an “overweight” rating on the stock in a research note on Thursday, July 9th. Weiss Ratings downgraded shares of Grab from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, August 17th. Finally, Benchmark reissued a “buy” rating on shares of Grab in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Grab has a consensus rating of “Moderate Buy” and a consensus price target of $6.01.

Institutional Investors Weigh In On Grab

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its position in Grab by 6.4% during the second quarter. BlackRock Inc. now owns 156,175,807 shares of the company’s stock worth $588,783,000 after buying an additional 9,357,389 shares during the period. Invesco Ltd. grew its holdings in Grab by 24.9% in the 3rd quarter. Invesco Ltd. now owns 79,797,848 shares of the company’s stock valued at $480,383,000 after buying an additional 15,916,063 shares during the period. Marshall Wace LLP grew its holdings in Grab by 49.2% in the 4th quarter. Marshall Wace LLP now owns 72,453,397 shares of the company’s stock valued at $361,542,000 after buying an additional 23,891,108 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Grab by 1.6% during the 4th quarter. JPMorgan Chase & Co. now owns 56,669,014 shares of the company’s stock valued at $282,778,000 after acquiring an additional 878,966 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Grab by 58.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 54,906,371 shares of the company’s stock worth $200,957,000 after acquiring an additional 20,152,535 shares during the period. Hedge funds and other institutional investors own 55.52% of the company’s stock.

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.