Grab (NASDAQ:GRAB) Insider Chin Yin Ong Sells 48,000 Shares

Grab Holdings Limited (NASDAQ:GRAB) insider Chin Yin Ong sold 48,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $3.55, for a total transaction of $170,400.00. Following the completion of the transaction, the insider directly owned 3,781,306 shares of the company’s stock, valued at $13,423,636.30. This trade represents a 1.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Chin Yin Ong also recently made the following trade(s):

• On Monday, May 4th, Chin Yin Ong sold 38,000 shares of Grab stock. The stock was sold at an average price of $3.59, for a total transaction of $136,420.00.
• On Thursday, April 2nd, Chin Yin Ong sold 38,000 shares of Grab stock. The stock was sold at an average price of $3.62, for a total transaction of $137,560.00.

Grab Stock Performance

Shares of NASDAQ:GRAB opened at $3.54 on Friday. The firm has a 50 day moving average of $3.72 and a 200 day moving average of $4.37. The company has a quick ratio of 1.65, a current ratio of 1.67 and a debt-to-equity ratio of 0.06. Grab Holdings Limited has a 52 week low of $3.39 and a 52 week high of $6.62. The company has a market capitalization of $14.51 billion, a price-to-earnings ratio of 354.35, a price-to-earnings-growth ratio of 1.65 and a beta of 0.93.

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

Wall Street Analysts Forecast Growth

GRAB has been the topic of several analyst reports. JPMorgan Chase & Co. cut their price target on shares of Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a report on Tuesday, May 5th. Mizuho cut their price target on shares of Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. China Renaissance raised shares of Grab from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a report on Wednesday, May 6th. Morgan Stanley set a $5.90 price target on shares of Grab in a report on Wednesday, May 6th. Finally, Benchmark reaffirmed a “buy” rating on shares of Grab in a report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $6.19.

Institutional Investors Weigh In On Grab

A number of large investors have recently made changes to their positions in GRAB. Integrated Wealth Concepts LLC grew its holdings in shares of Grab by 201.2% during the first 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 during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of 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 buying an additional 529,433 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of 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 buying an additional 3,090 shares during the last quarter. Focus Partners Wealth purchased a new stake in shares of Grab during the first quarter valued at $63,000. Finally, Cetera Investment Advisers grew its holdings in shares of 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 buying an additional 11,158 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.