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

Grab Holdings Limited (NASDAQ:GRAB) CEO Anthony Ping Yeow Tan sold 400,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $3.62, for a total transaction of $1,448,000.00. Following the completion of the transaction, the chief executive officer directly owned 428,498 shares in the company, valued at $1,551,162.76. This trade represents a 48.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 Friday, July 10th, Anthony Ping Yeow Tan sold 400,000 shares of Grab stock. The stock was sold at an average price of $3.91, for a total transaction of $1,564,000.00.
• 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.

Grab Trading Down 3.5%

GRAB stock traded down $0.13 during midday trading on Wednesday, reaching $3.61. The company’s stock had a trading volume of 36,211,930 shares, compared to its average volume of 50,443,965. Grab Holdings Limited has a 52 week low of $3.18 and a 52 week high of $6.62. The stock has a market cap of $14.79 billion, a PE ratio of 60.18, a price-to-earnings-growth ratio of 0.96 and a beta of 0.89. The company has a quick ratio of 1.51, a current ratio of 1.52 and a debt-to-equity ratio of 0.06. The business’s 50-day simple moving average is $3.58 and its 200-day simple moving average is $3.80.

Grab (NASDAQ:GRAB) last released its earnings results on Tuesday, August 4th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The firm had revenue of $997.00 million during the quarter, compared to analyst estimates of $994.97 million. Grab had a net margin of 15.97% and a return on equity of 8.83%. As a group, sell-side analysts expect that Grab Holdings Limited will post 0.13 EPS for the current year.

Hedge Funds Weigh In On Grab

Institutional investors and hedge funds have recently modified their holdings of the business. Pitcairn Co. increased its holdings in Grab by 11.0% in the 2nd quarter. Pitcairn Co. now owns 20,964 shares of the company’s stock valued at $105,000 after buying an additional 2,080 shares during the period. Adalta Capital Management LLC lifted its holdings in shares of Grab by 2.2% during the 3rd quarter. Adalta Capital Management LLC now owns 100,880 shares of the company’s stock worth $607,000 after acquiring an additional 2,200 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of Grab by 7.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 32,099 shares of the company’s stock worth $161,000 after acquiring an additional 2,300 shares in the last quarter. Soros Fund Management LLC boosted its position in shares of Grab by 19.7% during the 2nd quarter. Soros Fund Management LLC now owns 14,677 shares of the company’s stock worth $74,000 after acquiring an additional 2,419 shares in the last quarter. Finally, Corient Private Wealth LLC increased its stake in Grab by 1.9% in the fourth quarter. Corient Private Wealth LLC now owns 129,144 shares of the company’s stock valued at $643,000 after acquiring an additional 2,469 shares during the last quarter. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Zacks Research raised Grab from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Weiss Ratings restated a “hold (c-)” rating on shares of Grab in a report on Monday, August 3rd. Benchmark restated a “buy” rating on shares of Grab in a research report on Tuesday, August 4th. 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 research note on Tuesday, May 5th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $6.25 price target on shares of Grab in a research report on Tuesday, June 30th. One 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 MarketBeat, Grab 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.