Grab (NASDAQ:GRAB) COO Acquires 299,571 Shares of Stock

Key Points

• Grab COO Alexander Hungate purchased 299,571 shares at an average price of $2.89, investing approximately $865,760 and increasing his stake by 4.9% to 6.41 million shares.
• Grab shares traded near $2.91, close to their 52-week low of $2.74 and below their 50-day and 200-day moving averages. The company recently exceeded quarterly earnings and revenue expectations, reporting $0.06 in EPS on $997 million in revenue.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $6.11; institutional investors own 55.52% of the company.

Grab Holdings Limited (NASDAQ:GRAB - Get Free Report) COO Alexander Hungate acquired 299,571 shares of Grab stock in a transaction on Monday, September 21st. The stock was purchased at an average price of $2.89 per share, with a total value of $865,760.19. Following the purchase, the chief operating officer owned 6,411,550 shares of the company's stock, valued at $18,529,379.50. The trade was a 4.90% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, September 2nd, Alexander Hungate sold 145,349 shares of Grab stock. The shares were sold at an average price of $3.48, for a total value of $505,814.52.
• 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 Stock Performance

Shares of GRAB traded up $0.11 during mid-day trading on Monday, reaching $2.91. 69,892,886 shares of the company's stock were exchanged, compared to its average volume of 52,077,128. The business's fifty day simple moving average is $3.44 and its 200-day simple moving average is $3.60. The stock has a market capitalization of $11.92 billion, a PE ratio of 48.51, a price-to-earnings-growth ratio of 0.73 and a beta of 0.89. Grab Holdings Limited has a 52-week low of $2.74 and a 52-week 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.

Grab (NASDAQ:GRAB - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. The firm had revenue of $997.00 million during the quarter, compared to the consensus estimate of $994.97 million. Grab had a net margin of 15.97% and a return on equity of 8.83%. On average, equities research analysts expect that Grab Holdings Limited will post 0.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Barclays decreased 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. Morgan Stanley reaffirmed an "overweight" rating and set a $6.25 price objective on shares of Grab in a research note on Tuesday, June 30th. KeyCorp set a $7.00 price objective on Grab in a research report on Wednesday, September 16th. Benchmark reissued a "buy" rating on shares of Grab in a report on Tuesday, August 4th. Finally, Zacks Research raised Grab from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Grab has a consensus rating of "Moderate Buy" and an average target price of $6.11.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in Grab by 6.4% in the second quarter. BlackRock Inc. now owns 156,175,807 shares of the company's stock valued at $588,783,000 after purchasing an additional 9,357,389 shares during the period. Assenagon Asset Management S.A. increased its position in 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 purchasing an additional 20,152,535 shares during the period. WFM ASIA BVI Ltd increased its position in Grab by 12.5% during the 4th quarter. WFM ASIA BVI Ltd now owns 37,675,992 shares of the company's stock worth $188,003,000 after purchasing an additional 4,194,477 shares during the period. Norges Bank purchased a new position in shares of Grab during the 4th quarter worth approximately $161,484,000. Finally, Artisan Partners Limited Partnership raised its stake in shares of Grab by 5.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 27,977,786 shares of the company's stock worth $139,609,000 after buying an additional 1,340,082 shares in the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

Grab Company Profile

Grab Holdings Inc NASDAQ: GRAB is a technology company that operates a superapp serving consumers, drivers, merchants and businesses across Southeast Asia. Its platform connects users with transportation, food and grocery delivery, parcel and on-demand logistics, digital payments and other financial services.

The company began as a ride-hailing service in Malaysia in 2012, founded by Anthony Tan and Tan Hooi Ling, and expanded into a broader digital platform. Grab's consumer offerings include private-hire and taxi services, GrabFood, GrabMart and GrabExpress, while its financial-services products include digital payments, lending, insurance and digital banking services offered in selected markets.

Grab serves markets across Southeast Asia, including Singapore, Malaysia, Indonesia, Thailand, Vietnam, the Philippines and Cambodia.

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