Shares of GrubHub Inc (NASDAQ:GRUB) were down 3.2% during mid-day trading on Wednesday . The stock traded as low as $30.53 and last traded at $30.74, with a volume of 3,109,686 shares traded. The stock had previously closed at $31.75.

Several analysts have recently issued reports on GRUB shares. Citigroup Inc. reissued a “buy” rating on shares of GrubHub in a research report on Wednesday, June 29th. Mizuho reissued a “buy” rating and set a $33.00 price target on shares of GrubHub in a research report on Wednesday. Wedbush started coverage on shares of GrubHub in a research report on Thursday, July 7th. They set an “outperform” rating and a $40.00 price target on the stock. Zacks Investment Research cut shares of GrubHub from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. Finally, Monness Crespi & Hardt raised shares of GrubHub from a “neutral” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Monday, June 6th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. GrubHub currently has a consensus rating of “Buy” and an average target price of $31.88.

The stock has a market cap of $2.60 billion and a PE ratio of 69.86. The firm has a 50 day moving average price of $30.15 and a 200-day moving average price of $25.16.

In other GrubHub news, Director Benjamin C. Spero sold 500,000 shares of GrubHub stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $24.54, for a total value of $12,270,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Adam Dewitt sold 5,000 shares of GrubHub stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $31.04, for a total value of $155,200.00. Following the completion of the sale, the chief financial officer now owns 3,970 shares of the company’s stock, valued at approximately $123,228.80. The disclosure for this sale can be found here.

Other institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its position in GrubHub by 8.2% in the fourth quarter. Rhumbline Advisers now owns 71,522 shares of the company’s stock valued at $1,731,000 after buying an additional 5,430 shares in the last quarter. California Public Employees Retirement System raised its position in GrubHub by 6.5% in the fourth quarter. California Public Employees Retirement System now owns 220,600 shares of the company’s stock valued at $5,339,000 after buying an additional 13,400 shares in the last quarter. New York State Common Retirement Fund raised its position in GrubHub by 15.9% in the fourth quarter. New York State Common Retirement Fund now owns 198,668 shares of the company’s stock valued at $4,808,000 after buying an additional 27,190 shares in the last quarter. Morgan Stanley raised its position in GrubHub by 48.2% in the fourth quarter. Morgan Stanley now owns 5,549,598 shares of the company’s stock valued at $134,300,000 after buying an additional 1,804,355 shares in the last quarter. Finally, Eaton Vance Management purchased a new position in GrubHub during the fourth quarter valued at $3,061,000.

Grubhub Inc (Grubhub) is a provider of an online and mobile platform for restaurant pick-up and delivery orders. The Company connects more than 40,000 local restaurants with diners in more than 1,000 cities across the United States. For restaurants, Grubhub generates higher margin takeout orders at full menu prices.

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