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 business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $3.08, for a total value of $92,400.00. Following the sale, the insider owned 3,958,735 shares of the company’s stock, valued at approximately $12,192,903.80. This represents a 0.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 Friday, August 14th, Philipp Wolfgang Josef Kandal sold 30,000 shares of Grab stock. The stock was sold at an average price of $3.64, for a total value of $109,200.00.

Grab Stock Performance

Shares of NASDAQ GRAB opened at $2.80 on Friday. 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 firm has a market cap of $11.47 billion, a price-to-earnings ratio of 46.67, a P/E/G ratio of 0.74 and a beta of 0.89. The stock’s fifty day moving average price is $3.46 and its two-hundred day moving average price is $3.61. Grab Holdings Limited has a one year low of $2.74 and a one year high of $6.62.

Grab (NASDAQ:GRAB) last posted its earnings results on Tuesday, August 4th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Grab had a return on equity of 8.83% and a net margin of 15.97%.The company had revenue of $997.00 million during the quarter, compared to the consensus estimate of $994.97 million. On average, equities analysts forecast that Grab Holdings Limited will post 0.13 EPS for the current year.

Institutional Trading of Grab

Several institutional investors and hedge funds have recently modified their holdings of the business. Tidal Investments LLC lifted its holdings in shares of Grab by 6.2% in the second quarter. Tidal Investments LLC now owns 487,340 shares of the company’s stock worth $1,837,000 after acquiring an additional 28,398 shares during the last quarter. National Pension Service increased its holdings in shares of Grab by 40.6% during the second quarter. National Pension Service now owns 217,156 shares of the company’s stock worth $819,000 after buying an additional 62,686 shares in the last quarter. Engineers Gate Manager LP bought a new stake in Grab during the 2nd quarter worth $621,000. Integrated Wealth Concepts LLC bought a new stake in shares of Grab during the second quarter worth about $59,000. Finally, Allianz Asset Management GmbH grew its holdings in shares of Grab by 28.1% during the second quarter. Allianz Asset Management GmbH now owns 2,069,000 shares of the company’s stock worth $7,800,000 after purchasing an additional 453,813 shares during the last quarter. 55.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on GRAB. Weiss Ratings cut shares of Grab from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, August 17th. Zacks Research upgraded Grab from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Benchmark reaffirmed a “buy” rating on shares of Grab in a report on Tuesday, August 4th. KeyCorp set a $7.00 price objective on shares of Grab in a research report on Wednesday. Finally, Barclays dropped their target price on shares of Grab from $7.00 to $5.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. One 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, Grab has an average rating of “Moderate Buy” and an average target price of $6.11.

About Grab

Grab Holdings Inc (NASDAQ: GRAB) is a technology company that operates a superapp serving consumers, drivers, merchants and businesses across Southeast Asia. Its platform connects users with transportation, food and grocery delivery, parcel and on-demand logistics, digital payments and other financial services.

The company began as a ride-hailing service in Malaysia in 2012, founded by Anthony Tan and Tan Hooi Ling, and expanded into a broader digital platform. Grab’s consumer offerings include private-hire and taxi services, GrabFood, GrabMart and GrabExpress, while its financial-services products include digital payments, lending, insurance and digital banking services offered in selected markets.

Grab serves markets across Southeast Asia, including Singapore, Malaysia, Indonesia, Thailand, Vietnam, the Philippines and Cambodia.