Insider Selling: Grab (NASDAQ:GRAB) COO Sells $497,120.85 in Stock

Grab Holdings Limited (NASDAQ:GRAB) COO Alexander Charles Hungate sold 144,093 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $3.45, for a total value of $497,120.85. Following the sale, the chief operating officer owned 6,254,023 shares in the company, valued at $21,576,379.35. This trade represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Grab Stock Up 2.6%

Grab stock opened at $3.55 on Friday. The business has a 50 day simple moving average of $3.62 and a 200-day simple moving average of $4.09. Grab Holdings Limited has a 12 month low of $3.18 and a 12 month high of $6.62. The stock has a market capitalization of $14.55 billion, a PE ratio of 355.36, a price-to-earnings-growth ratio of 1.61 and a beta of 0.89. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.67 and a quick ratio of 1.65.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). The company had revenue of $955.00 million during the quarter, compared to analysts’ expectations of $921.71 million. Grab had a return on equity of 5.79% and a net margin of 10.67%. On average, analysts anticipate that Grab Holdings Limited will post 0.08 EPS for the current fiscal year.

Institutional Trading of Grab

Several large investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Grab in the 4th quarter worth $161,484,000. PointState Capital LP boosted its position in shares of Grab by 411.1% during the 4th quarter. PointState Capital LP now owns 32,555,483 shares of the company’s stock valued at $162,452,000 after acquiring an additional 26,186,329 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Grab by 49.2% in the fourth quarter. Marshall Wace LLP now owns 72,453,397 shares of the company’s stock valued at $361,542,000 after purchasing an additional 23,891,108 shares during the period. Assenagon Asset Management S.A. increased its position in Grab by 173.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 34,753,836 shares of the company’s stock worth $173,422,000 after purchasing an additional 22,038,961 shares during the last quarter. Finally, Invesco Ltd. increased its position in Grab by 24.9% during the third quarter. Invesco Ltd. now owns 79,797,848 shares of the company’s stock worth $480,383,000 after purchasing an additional 15,916,063 shares during the last quarter. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Weiss Ratings upgraded Grab from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. 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. Zacks Research upgraded shares of Grab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Mizuho lowered their price target on shares of Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. Finally, Morgan Stanley set a $5.90 price objective on shares of Grab in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Grab presently has an average rating of “Moderate Buy” and a consensus target price of $6.19.

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.