Grab (NASDAQ:GRAB) CEO Anthony Ping Yeow Tan Sells 400,000 Shares of Stock

Grab Holdings Limited (NASDAQ:GRAB) CEO Anthony Ping Yeow Tan sold 400,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $3.51, for a total transaction of $1,404,000.00. Following the sale, the chief executive officer owned 425,193 shares of the company’s stock, valued at $1,492,427.43. This represents a 48.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Anthony Ping Yeow Tan also recently made the following trade(s):

• On Monday, May 11th, Anthony Ping Yeow Tan sold 400,000 shares of Grab stock. The stock was sold at an average price of $3.67, for a total transaction of $1,468,000.00.
• On Friday, April 10th, Anthony Ping Yeow Tan sold 400,000 shares of Grab stock. The stock was sold at an average price of $3.68, for a total transaction of $1,472,000.00.

Grab Stock Up 0.9%

Shares of NASDAQ:GRAB opened at $3.49 on Wednesday. The company has a market capitalization of $14.30 billion, a PE ratio of 349.35, a P/E/G ratio of 1.57 and a beta of 0.89. The company has a current ratio of 1.67, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. Grab Holdings Limited has a twelve month low of $3.18 and a twelve month high of $6.62. The firm has a 50 day simple moving average of $3.66 and a 200-day simple moving average of $4.19.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). The company had revenue of $955.00 million for 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, equities analysts predict that Grab Holdings Limited will post 0.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GRAB. China Renaissance upgraded shares of 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. JPMorgan Chase & Co. reduced their price objective on shares of Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a research report on Tuesday, May 5th. Morgan Stanley set a $5.90 price objective on shares of Grab in a research report on Wednesday, May 6th. Weiss Ratings upgraded shares of Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Finally, Zacks Research upgraded shares of Grab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Grab presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.19.

Institutional Trading of Grab

Several institutional investors and hedge funds have recently bought and sold shares of GRAB. Integrated Wealth Concepts LLC raised its position in 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 purchasing an additional 23,639 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Grab by 6.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,231,195 shares of the company’s stock valued at $41,817,000 after purchasing an additional 529,433 shares during the last quarter. Empowered Funds LLC raised its position in Grab by 6.2% in the 1st quarter. Empowered Funds LLC now owns 52,698 shares of the company’s stock valued at $239,000 after purchasing an additional 3,090 shares during the last quarter. Focus Partners Wealth acquired a new position in Grab in the 1st quarter valued at $63,000. Finally, Cetera Investment Advisers increased its stake in Grab by 11.7% in the 2nd 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 period. Hedge funds and other institutional investors own 55.52% of the company’s stock.

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.