Grab (NASDAQ:GRAB) Insider Chin Yin Ong Sells 38,000 Shares

Grab Holdings Limited (NASDAQ:GRAB) insider Chin Yin Ong sold 38,000 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $3.88, for a total value of $147,440.00. Following the transaction, the insider directly owned 3,708,611 shares in the company, valued at approximately $14,389,410.68. This represents a 1.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, June 3rd, Chin Yin Ong sold 38,000 shares of Grab stock. The stock was sold at an average price of $3.43, for a total value of $130,340.00.
• On Tuesday, May 26th, Chin Yin Ong sold 48,000 shares of Grab stock. The stock was sold at an average price of $3.55, for a total value of $170,400.00.
• On Monday, May 4th, Chin Yin Ong sold 38,000 shares of Grab stock. The shares were sold at an average price of $3.59, for a total value of $136,420.00.

Grab Stock Performance

Shares of Grab stock opened at $3.90 on Friday. The stock’s fifty day moving average is $3.60 and its two-hundred day moving average is $4.05. The company has a market capitalization of $15.98 billion, a PE ratio of 390.39, a price-to-earnings-growth ratio of 1.77 and a beta of 0.87. 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 $3.18 and a 52 week high of $6.62.

Grab (NASDAQ:GRAB) last released its 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 return on equity of 5.79% and a net margin of 10.67%.The business had revenue of $955.00 million during the quarter, compared to analysts’ expectations of $921.71 million. As a group, analysts expect 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 analyst reports. Zacks Research upgraded shares of Grab from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Morgan Stanley restated an “overweight” rating and issued a $6.25 target price on shares of Grab in a research note on Tuesday. Mizuho reduced their target price on shares of Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. Weiss Ratings raised shares of Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. lowered their price target on Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $6.23.

Institutional Trading of Grab

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC raised its position 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 worth $160,000 after acquiring an additional 23,639 shares in the last quarter. Goldman Sachs Group Inc. boosted 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 purchasing an additional 529,433 shares in the last quarter. Empowered Funds LLC grew its stake in Grab by 6.2% in the first 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 purchased a new position in Grab in the first quarter valued at about $63,000. Finally, Cetera Investment Advisers raised its holdings in Grab by 11.7% in the second quarter. Cetera Investment Advisers now owns 106,710 shares of the company’s stock worth $537,000 after purchasing an additional 11,158 shares in the last quarter. Institutional investors own 55.52% of the company’s stock.

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.