Chin Yin Ong Sells 38,000 Shares of Grab (NASDAQ:GRAB) Stock

Grab Holdings Limited (NASDAQ:GRAB) insider Chin Yin Ong sold 38,000 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $3.88, for a total transaction of $147,440.00. Following the transaction, the insider owned 3,708,611 shares in the company, valued at $14,389,410.68. This represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Chin Yin Ong also recently made the following trade(s):

• On Wednesday, June 3rd, Chin Yin Ong sold 38,000 shares of Grab stock. The shares were sold at an average price of $3.43, for a total transaction of $130,340.00.
• On Tuesday, May 26th, Chin Yin Ong sold 48,000 shares of Grab stock. The stock was sold at an average price of $3.55, for a total value of $170,400.00.
• On Monday, May 4th, Chin Yin Ong sold 38,000 shares of Grab stock. The stock was sold at an average price of $3.59, for a total value of $136,420.00.

Grab Price Performance

Shares of NASDAQ GRAB opened at $3.90 on Friday. The company has a quick ratio of 1.65, a current ratio of 1.67 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average price is $3.60 and its two-hundred day moving average price is $4.05. The company has a market cap of $15.98 billion, a PE ratio of 390.39, a price-to-earnings-growth ratio of 1.54 and a beta of 0.87. Grab Holdings Limited has a twelve month low of $3.18 and a twelve month high of $6.62.

Grab (NASDAQ:GRAB) last released 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 business had revenue of $955.00 million during the quarter, compared to analyst estimates of $921.71 million. On average, analysts predict that Grab Holdings Limited will post 0.1 EPS for the current year.

Hedge Funds Weigh In On Grab

Several institutional investors and hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC raised its stake in Grab by 201.2% in the 1st 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 in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Grab by 6.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,231,195 shares of the company’s stock worth $41,817,000 after purchasing an additional 529,433 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Grab by 6.2% during the first quarter. Empowered Funds LLC now owns 52,698 shares of the company’s stock worth $239,000 after purchasing an additional 3,090 shares during the period. Focus Partners Wealth bought a new position in shares of Grab during the first quarter worth approximately $63,000. Finally, Cetera Investment Advisers raised its position in shares of Grab by 11.7% in the second quarter. Cetera Investment Advisers now owns 106,710 shares of the company’s stock valued at $537,000 after buying an additional 11,158 shares in the last quarter. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports 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. JPMorgan Chase & Co. dropped their price objective on shares of Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a research report on Tuesday, May 5th. Morgan Stanley restated an “overweight” rating and set a $6.25 target price on shares of Grab in a research note on Tuesday. Zacks Research raised shares of Grab from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Finally, China Renaissance upgraded 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. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $6.23.

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.