Insider Selling: Grab (NASDAQ:GRAB) CEO Sells $1,404,000.00 in Stock

Grab Holdings Limited (NASDAQ:GRAB) CEO Anthony Ping Yeow Tan sold 400,000 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $3.51, for a total value of $1,404,000.00. Following the completion of the transaction, the chief executive officer directly owned 425,193 shares of the company’s stock, valued at approximately $1,492,427.43. The trade was a 48.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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, 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 value of $1,468,000.00.
• On Friday, April 10th, Anthony Ping Yeow Tan sold 400,000 shares of Grab stock. The shares were sold at an average price of $3.68, for a total value of $1,472,000.00.

Grab Stock Performance

Shares of NASDAQ:GRAB opened at $3.57 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.67 and a quick ratio of 1.65. The business’s fifty day moving average price is $3.65 and its two-hundred day moving average price is $4.16. Grab Holdings Limited has a fifty-two week low of $3.18 and a fifty-two week high of $6.62. The stock has a market capitalization of $14.63 billion, a price-to-earnings ratio of 357.36, a price-to-earnings-growth ratio of 1.57 and a beta of 0.89.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). Grab had a net margin of 10.67% and a return on equity of 5.79%. The company had revenue of $955.00 million for the quarter, compared to the consensus estimate of $921.71 million. As a group, analysts predict that Grab Holdings Limited will post 0.08 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a report on Tuesday, May 5th. Zacks Research raised shares of Grab from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Morgan Stanley set a $5.90 price objective on shares of Grab in a report on Wednesday, May 6th. Weiss Ratings upgraded shares of Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Finally, China Renaissance raised Grab from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Grab has a consensus rating of “Moderate Buy” and a consensus target price of $6.19.

Hedge Funds Weigh In On Grab

A number of institutional investors have recently modified their holdings of GRAB. Rathbones Group PLC grew its stake in shares of Grab by 74.4% during the first quarter. Rathbones Group PLC now owns 32,172 shares of the company’s stock valued at $118,000 after purchasing an additional 13,728 shares during the last quarter. Parallel Advisors LLC raised its position in Grab by 277.1% in the 1st quarter. Parallel Advisors LLC now owns 23,032 shares of the company’s stock worth $84,000 after purchasing an additional 16,925 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in Grab by 80.1% during the 1st quarter. NewEdge Advisors LLC now owns 62,924 shares of the company’s stock worth $230,000 after buying an additional 27,976 shares in the last quarter. Serenity Investment Advisors acquired a new position in Grab during the 1st quarter worth $58,000. Finally, Groupe la Francaise boosted its position in Grab by 755.9% in the 1st quarter. Groupe la Francaise now owns 4,186,842 shares of the company’s stock valued at $15,276,000 after buying an additional 3,697,656 shares during the last quarter. 55.52% of the stock is owned by institutional investors.

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.