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

Grab Holdings Limited (NASDAQ:GRAB) COO Alexander Hungate sold 145,349 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $3.48, for a total value of $505,814.52. Following the completion of the sale, the chief operating officer owned 6,111,979 shares in the company, valued at approximately $21,269,686.92. This represents a 2.32% 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.

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

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

Grab Stock Performance

Grab stock opened at $3.42 on Friday. 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 price of $3.62 and a two-hundred day moving average price of $3.70. Grab Holdings Limited has a 52-week low of $3.18 and a 52-week high of $6.62. The firm has a market capitalization of $14.01 billion, a P/E ratio of 57.01, a P/E/G ratio of 0.90 and a beta of 0.89.

Grab (NASDAQ:GRAB) last posted its earnings results on Tuesday, August 4th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. The business had revenue of $997.00 million for the quarter, compared to analyst estimates of $994.97 million. Grab had a net margin of 15.97% and a return on equity of 8.83%. As a group, analysts anticipate that Grab Holdings Limited will post 0.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GRAB has been the topic of several recent analyst reports. Weiss Ratings lowered Grab from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, August 17th. Zacks Research raised Grab from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Barclays lowered their target price on Grab from $7.00 to $5.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. Morgan Stanley reaffirmed an “overweight” rating and issued a $6.25 price target on shares of Grab in a report on Tuesday, June 30th. Finally, Benchmark reissued a “buy” rating on shares of Grab in a 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 given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Grab has a consensus rating of “Moderate Buy” and a consensus target price of $6.01.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GRAB. Allianz Asset Management GmbH boosted its stake in shares of Grab by 28.1% in the 2nd quarter. Allianz Asset Management GmbH now owns 2,069,000 shares of the company’s stock valued at $7,800,000 after purchasing an additional 453,813 shares during the last quarter. Amundi grew its holdings in Grab by 6.9% during the 2nd quarter. Amundi now owns 12,522,874 shares of the company’s stock worth $47,211,000 after acquiring an additional 810,651 shares during the period. VPR Management LLC acquired a new stake in Grab during the 2nd quarter worth $829,000. Vanguard Capital Wealth Advisors bought a new stake in shares of Grab during the 2nd quarter valued at $143,000. Finally, Two Sigma Securities LLC raised its position in shares of Grab by 114.5% during the 2nd quarter. Two Sigma Securities LLC now owns 303,096 shares of the company’s stock valued at $1,143,000 after acquiring an additional 161,821 shares during the last quarter. 55.52% of the stock is currently owned by institutional investors and hedge funds.

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.