Insider Selling: Grab (NASDAQ:GRAB) Insider Sells 30,000 Shares of Stock

Grab Holdings Limited (NASDAQ:GRAB) insider Philipp Wolfgang Josef Kandal sold 30,000 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $3.54, for a total value of $106,200.00. Following the completion of the transaction, the insider owned 4,095,430 shares of the company’s stock, valued at $14,497,822.20. This trade represents a 0.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Philipp Wolfgang Josef Kandal also recently made the following trade(s):

• On Thursday, April 16th, Philipp Wolfgang Josef Kandal sold 20,000 shares of Grab stock. The shares were sold at an average price of $4.00, for a total value of $80,000.00.
• On Wednesday, April 15th, Philipp Wolfgang Josef Kandal sold 30,000 shares of Grab stock. The shares were sold at an average price of $3.92, for a total value of $117,600.00.

Grab Trading Down 1.1%

Shares of NASDAQ:GRAB traded down $0.04 during midday trading on Tuesday, reaching $3.50. The company had a trading volume of 75,365,306 shares, compared to its average volume of 52,780,056. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 1.67. Grab Holdings Limited has a 1-year low of $3.46 and a 1-year high of $6.62. The firm has a market cap of $14.34 billion, a price-to-earnings ratio of 350.35, a price-to-earnings-growth ratio of 1.61 and a beta of 0.93. The company has a fifty day simple moving average of $3.75 and a two-hundred day simple moving average of $4.48.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). Grab had a net margin of 10.67% and a return on equity of 5.79%. The company had revenue of $955.00 million during the quarter, compared to analyst estimates of $921.71 million. Research analysts predict that Grab Holdings Limited will post 0.08 earnings per share for the current year.

Analyst Ratings Changes

GRAB has been the subject of a number of research reports. Wall Street Zen upgraded Grab from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. China Renaissance upgraded Grab from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research report on Wednesday, May 6th. Morgan Stanley set a $5.90 price objective on Grab in a research report on Wednesday, May 6th. Mizuho decreased their price objective on Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a research report on Tuesday, May 5th. Finally, Benchmark restated a “buy” rating on shares of Grab in a research report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6.19.

Institutional Investors Weigh In On Grab

A number of institutional investors have recently bought and sold shares of GRAB. Integrated Wealth Concepts LLC grew its stake in shares of Grab by 201.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 35,386 shares of the company’s stock valued at $160,000 after buying an additional 23,639 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Grab by 6.1% during the first quarter. Goldman Sachs Group Inc. now owns 9,231,195 shares of the company’s stock valued at $41,817,000 after acquiring an additional 529,433 shares in the last quarter. Empowered Funds LLC raised its position in Grab by 6.2% during the first quarter. Empowered Funds LLC now owns 52,698 shares of the company’s stock valued at $239,000 after acquiring an additional 3,090 shares in the last quarter. Focus Partners Wealth bought a new position in Grab during the first quarter valued at approximately $63,000. Finally, Cetera Investment Advisers raised its position in Grab by 11.7% during the second quarter. Cetera Investment Advisers now owns 106,710 shares of the company’s stock valued at $537,000 after acquiring an additional 11,158 shares in the last quarter. 55.52% of the stock is currently owned by institutional investors and hedge funds.

About Grab

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.