Grab (NASDAQ:GRAB) COO Alexander Charles Hungate Acquires 299,571 Shares

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

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 Price Performance

Shares of NASDAQ GRAB traded up $0.11 during trading on Monday, hitting $2.91. 69,892,886 shares of the company were exchanged, compared to its average volume of 52,077,128. 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 Holdings Limited has a 1 year low of $2.74 and a 1 year high of $6.62. The company has a market cap of $11.92 billion, a price-to-earnings ratio of 48.51, a PEG ratio of 0.73 and a beta of 0.89. The firm’s fifty day moving average price is $3.44 and its 200 day moving average price is $3.60.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GRAB shares. Benchmark reaffirmed a “buy” rating on shares of Grab in a report on Tuesday, August 4th. Morgan Stanley reissued an “overweight” rating and set a $6.25 price target on shares of Grab in a research note on Tuesday, June 30th. Barclays lowered their price target on Grab from $7.00 to $5.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. Zacks Research raised Grab from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Finally, KeyCorp set a $7.00 price objective on Grab in a report on Wednesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.11.

Hedge Funds Weigh In On Grab

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC grew its position in shares of Grab by 6.2% in the second quarter. Tidal Investments LLC now owns 487,340 shares of the company’s stock valued at $1,837,000 after purchasing an additional 28,398 shares during the last quarter. National Pension Service increased its stake in shares of Grab by 40.6% during the 2nd quarter. National Pension Service now owns 217,156 shares of the company’s stock worth $819,000 after purchasing an additional 62,686 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of Grab during the 2nd quarter worth approximately $621,000. Integrated Wealth Concepts LLC purchased a new stake in Grab in the 2nd quarter valued at approximately $59,000. Finally, Allianz Asset Management GmbH lifted its stake in Grab by 28.1% in the 2nd quarter. Allianz Asset Management GmbH now owns 2,069,000 shares of the company’s stock valued at $7,800,000 after buying an additional 453,813 shares in the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

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.