Insider Selling: Grab (NASDAQ:GRAB) COO Sells 145,349 Shares of Stock

Key Points

• Grab COO Alexander Hungate sold 145,349 shares at an average price of $3.48, generating approximately $505,815. The transaction reduced his direct holdings by 2.32% and was conducted under a pre-arranged Rule 10b5-1 trading plan.
• Grab shares were trading at $3.42, near the lower end of their 52-week range of $3.18 to $6.62. The stock has a market capitalization of about $14.01 billion, while its 50-day and 200-day moving averages stood at $3.62 and $3.70, respectively.
• The company exceeded quarterly expectations with earnings of $0.06 per share versus a $0.05 consensus estimate and revenue of $997 million. Analysts maintained a broadly positive view, with a consensus “Moderate Buy” rating and a $6.01 price target.

Grab Holdings Limited (NASDAQ:GRAB - Get Free Report) COO Alexander Hungate sold 145,349 shares of the business'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 transaction, the chief operating officer directly owned 6,111,979 shares in the company, valued at approximately $21,269,686.92. The trade was a 2.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 value of $497,120.85.

Grab Price Performance

Shares of NASDAQ GRAB remained flat at $3.42 during mid-day trading on Friday. The company had a trading volume of 25,856,130 shares, compared to its average volume of 31,750,090. The business's fifty day moving average is $3.62 and its 200 day 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 capitalization of $14.01 billion, a price-to-earnings ratio of 57.01, a price-to-earnings-growth ratio of 0.90 and a beta of 0.89.

Grab (NASDAQ:GRAB - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.06 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.01. The company 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%. Analysts anticipate that Grab Holdings Limited will post 0.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Barclays reduced their price target on Grab from $7.00 to $5.00 and set an "overweight" rating for the company in a report on Thursday, July 9th. Morgan Stanley reissued an "overweight" rating and issued a $6.25 target price on shares of Grab in a report on Tuesday, June 30th. Weiss Ratings lowered shares of Grab from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, August 17th. Benchmark reaffirmed a "buy" rating on shares of Grab in a research note on Tuesday, August 4th. Finally, Zacks Research upgraded shares of Grab from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Grab currently has an average rating of "Moderate Buy" and a consensus target price of $6.01.

Hedge Funds Weigh In On Grab

Several hedge funds have recently bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in Grab during the fourth quarter worth $25,000. Montag A & Associates Inc. acquired a new stake in Grab in the first quarter valued at $27,000. Parallel Advisors LLC increased its position in shares of Grab by 305.5% in the fourth quarter. Parallel Advisors LLC now owns 6,107 shares of the company's stock valued at $30,000 after buying an additional 4,601 shares in the last quarter. Advocate Investing Services LLC purchased a new position in shares of Grab in the fourth quarter valued at $35,000. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of Grab by 128.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,525 shares of the company's stock worth $38,000 after buying an additional 4,225 shares during the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

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.

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