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

Grab Holdings Limited (NASDAQ:GRAB) COO Alexander Charles Hungate sold 144,093 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $3.45, for a total value of $497,120.85. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Grab Price Performance

Shares of NASDAQ GRAB traded down $0.03 during mid-day trading on Thursday, reaching $3.46. The company had a trading volume of 42,393,226 shares, compared to its average volume of 52,211,468. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 1.67. The firm 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 business’s 50-day simple moving average is $3.63 and its 200 day simple moving average is $4.10. Grab Holdings Limited has a one year low of $3.18 and a one year high of $6.62.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Grab during the 4th quarter valued at $25,000. Montag A & Associates Inc. bought a new stake in Grab in the 1st quarter worth about $27,000. Parallel Advisors LLC lifted its position in Grab by 305.5% during the fourth quarter. Parallel Advisors LLC now owns 6,107 shares of the company’s stock valued at $30,000 after purchasing an additional 4,601 shares during the period. Signaturefd LLC lifted its holdings in shares of Grab by 64.6% during 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 period. Finally, Advocate Investing Services LLC bought a new stake in shares of Grab during the 4th quarter valued at about $35,000. 55.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GRAB has been the topic of several research reports. Weiss Ratings upgraded Grab from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Zacks Research raised Grab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Mizuho cut their target price on shares of Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. JPMorgan Chase & Co. dropped their price objective on shares of Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a research note on Tuesday, May 5th. Finally, Morgan Stanley set a $5.90 target price on Grab in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Grab presently has a consensus rating of “Moderate Buy” and an average target price of $6.19.

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.