Grab (NASDAQ:GRAB) CEO Sells 400,000 Shares

Grab Holdings Limited (NASDAQ:GRAB) CEO Anthony Ping Yeow Tan sold 400,000 shares of the stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $3.91, for a total transaction of $1,564,000.00. Following the sale, the chief executive officer directly owned 28,498 shares of the company’s stock, valued at approximately $111,427.18. This trade represents a 93.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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, June 15th, Anthony Ping Yeow Tan sold 400,000 shares of Grab stock. The shares were sold at an average price of $3.51, for a total transaction of $1,404,000.00.
• 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.

Grab Price Performance

GRAB traded down $0.14 during trading on Tuesday, hitting $3.80. 33,859,626 shares of the company traded hands, compared to its average volume of 46,063,804. The company has a market cap of $15.57 billion, a PE ratio of 380.38, a P/E/G ratio of 1.51 and a beta of 0.87. The stock’s 50-day simple moving average is $3.60 and its two-hundred day simple moving average is $3.98. Grab Holdings Limited has a 1 year low of $3.18 and a 1 year high of $6.62. 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 (NASDAQ:GRAB) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.01) 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 company had revenue of $955.00 million during the quarter, compared to analysts’ expectations of $921.71 million. As a group, sell-side analysts anticipate that Grab Holdings Limited will post 0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Grab

Large investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC lifted its stake in Grab by 201.2% in the first quarter. Integrated Wealth Concepts LLC now owns 35,386 shares of the company’s stock worth $160,000 after purchasing an additional 23,639 shares during the last quarter. Goldman Sachs Group Inc. grew its stake 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 raised its holdings in shares of Grab by 6.2% in the first quarter. Empowered Funds LLC now owns 52,698 shares of the company’s stock worth $239,000 after buying an additional 3,090 shares during the period. Focus Partners Wealth bought a new stake in shares of Grab during the 1st quarter worth approximately $63,000. Finally, Cetera Investment Advisers boosted its holdings in Grab by 11.7% during the 2nd 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 during the period. 55.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Mizuho cut their price target on Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Barclays cut their target price on shares of Grab from $7.00 to $5.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. 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 research note on Wednesday, May 6th. Morgan Stanley reissued an “overweight” rating and issued a $6.25 price objective on shares of Grab in a research note on Tuesday, June 30th. Finally, JPMorgan Chase & Co. reduced their target price 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. One 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.01.

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.