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 firm’s stock in a transaction on 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 transaction, the chief operating officer directly owned 6,111,979 shares of the company’s stock, valued at approximately $21,269,686.92. This trade represents a 2.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through 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

NASDAQ:GRAB opened at $3.42 on Friday. The stock’s 50-day simple moving average is $3.62 and its 200 day simple moving average is $3.70. Grab Holdings Limited has a 52-week low of $3.18 and a 52-week high of $6.62. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.51 and a current ratio of 1.52. The company has a market cap 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 quarterly 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 firm had revenue of $997.00 million for the quarter, compared to analyst estimates of $994.97 million. Grab had a return on equity of 8.83% and a net margin of 15.97%. As a group, sell-side analysts forecast that Grab Holdings Limited will post 0.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GRAB has been the subject of a number of analyst reports. Weiss Ratings downgraded shares of Grab from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, August 17th. Barclays cut their target price on shares of Grab from $7.00 to $5.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. Benchmark restated a “buy” rating on shares of Grab in a research note on Tuesday, August 4th. Morgan Stanley reaffirmed an “overweight” rating and issued a $6.25 price objective on shares of Grab in a research report on Tuesday, June 30th. Finally, Zacks Research upgraded Grab from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $6.01.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GRAB. Integrated Wealth Concepts LLC boosted its holdings in shares of Grab by 201.2% during the first quarter. Integrated Wealth Concepts LLC now owns 35,386 shares of the company’s stock worth $160,000 after acquiring an additional 23,639 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Grab by 6.1% during the first quarter. Goldman Sachs Group Inc. now owns 9,231,195 shares of the company’s stock worth $41,817,000 after purchasing an additional 529,433 shares during the period. Empowered Funds LLC lifted its holdings in Grab by 6.2% during the 1st quarter. Empowered Funds LLC now owns 52,698 shares of the company’s stock worth $239,000 after purchasing an additional 3,090 shares during the last quarter. Focus Partners Wealth acquired a new stake in Grab during the 1st quarter worth approximately $63,000. Finally, Cetera Investment Advisers boosted its stake in Grab by 11.7% in the 2nd quarter. Cetera Investment Advisers now owns 106,710 shares of the company’s stock valued at $537,000 after purchasing an additional 11,158 shares during the period. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Company Profile

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.