Philipp Wolfgang Josef Kandal Sells 30,000 Shares of Grab (NASDAQ:GRAB) Stock

Grab Holdings Limited (NASDAQ:GRAB) insider Philipp Wolfgang Josef Kandal sold 30,000 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $3.64, for a total transaction of $109,200.00. Following the transaction, the insider owned 3,988,735 shares in the company, valued at approximately $14,518,995.40. The trade was a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Philipp Wolfgang Josef Kandal also recently made the following trade(s):

• On Monday, June 15th, Philipp Wolfgang Josef Kandal sold 30,000 shares of Grab stock. The shares were sold at an average price of $3.53, for a total transaction of $105,900.00.

Grab Stock Up 2.6%

Shares of NASDAQ:GRAB opened at $3.54 on Thursday. Grab Holdings Limited has a one year low of $3.18 and a one year high of $6.62. The company has a 50 day moving average of $3.61 and a 200-day moving average of $3.76. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.52 and a quick ratio of 1.51. The stock has a market cap of $14.51 billion, a price-to-earnings ratio of 59.01, a P/E/G ratio of 0.90 and a beta of 0.89.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. Grab had a net margin of 15.97% and a return on equity of 8.83%. The business had revenue of $997.00 million for the quarter, compared to analyst estimates of $994.97 million. On average, sell-side analysts forecast that Grab Holdings Limited will post 0.13 earnings per share for the current year.

Hedge Funds Weigh In On Grab

Several institutional investors and hedge funds have recently made changes to their positions in GRAB. Pitcairn Co. raised its stake in Grab by 11.0% during the 2nd quarter. Pitcairn Co. now owns 20,964 shares of the company’s stock worth $105,000 after buying an additional 2,080 shares during the period. Adalta Capital Management LLC lifted its holdings in Grab by 2.2% during the third 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 in the last quarter. Thrivent Financial for Lutherans grew its stake in Grab by 7.7% in the second quarter. Thrivent Financial for Lutherans now owns 32,099 shares of the company’s stock valued at $161,000 after acquiring an additional 2,300 shares during the period. Soros Fund Management LLC grew its stake in Grab by 19.7% in the second quarter. Soros Fund Management LLC now owns 14,677 shares of the company’s stock valued at $74,000 after acquiring an additional 2,419 shares during the period. Finally, Corient Private Wealth LLC increased its holdings in shares of Grab by 1.9% in the fourth quarter. Corient Private Wealth LLC now owns 129,144 shares of the company’s stock worth $643,000 after acquiring an additional 2,469 shares in the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on GRAB shares. Zacks Research upgraded shares of Grab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. China Renaissance upgraded Grab from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a research report on Wednesday, May 6th. Barclays decreased their price objective on Grab from $7.00 to $5.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. Weiss Ratings downgraded Grab from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Finally, Mizuho cut their target price on Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Grab has an average rating of “Moderate Buy” and a consensus target price of $6.01.

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.