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 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 transaction, the chief operating officer directly owned 6,254,023 shares in the company, valued at $21,576,379.35. This trade represents a 2.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Grab Price Performance

Grab stock opened at $3.55 on Friday. The business’s 50-day simple moving average is $3.62 and its 200 day simple moving average is $4.09. The company has a quick ratio of 1.65, a current ratio of 1.67 and a debt-to-equity ratio of 0.06. The stock has a market cap of $14.55 billion, a price-to-earnings ratio of 355.36, a P/E/G ratio of 1.57 and a beta of 0.89. Grab Holdings Limited has a 12-month low of $3.18 and a 12-month high of $6.62.

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

Analyst Ratings Changes

Several equities analysts recently weighed in on GRAB shares. Zacks Research upgraded shares of Grab from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. China Renaissance raised shares of Grab from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a report on Wednesday, May 6th. JPMorgan Chase & Co. cut their price target on Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a research note on Tuesday, May 5th. Weiss Ratings raised Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Finally, Morgan Stanley set a $5.90 price target on shares of Grab in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Grab presently has an average rating of “Moderate Buy” and an average price target of $6.19.

Institutional Trading of Grab

Large investors have recently made changes to their positions in the company. Rathbones Group PLC raised its stake in Grab by 74.4% during the 1st quarter. Rathbones Group PLC now owns 32,172 shares of the company’s stock worth $118,000 after buying an additional 13,728 shares during the period. Parallel Advisors LLC grew its stake in Grab by 277.1% in the first quarter. Parallel Advisors LLC now owns 23,032 shares of the company’s stock valued at $84,000 after acquiring an additional 16,925 shares during the period. NewEdge Advisors LLC increased its holdings in shares of Grab by 80.1% in the first quarter. NewEdge Advisors LLC now owns 62,924 shares of the company’s stock worth $230,000 after acquiring an additional 27,976 shares in the last quarter. Serenity Investment Advisors bought a new stake in shares of Grab in the first quarter worth about $58,000. Finally, Groupe la Francaise raised its position in shares of Grab by 755.9% during the first quarter. Groupe la Francaise now owns 4,186,842 shares of the company’s stock worth $15,276,000 after purchasing an additional 3,697,656 shares during the period. 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.