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 firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $3.43, for a total value of $130,340.00. Following the completion of the transaction, the insider owned 3,743,306 shares of the company’s stock, valued at approximately $12,839,539.58. This represents a 1.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 Tuesday, May 26th, Chin Yin Ong sold 48,000 shares of Grab stock. The shares were 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 shares were sold at an average price of $3.59, for a total value of $136,420.00.
• On Thursday, April 2nd, Chin Yin Ong sold 38,000 shares of Grab stock. The stock was sold at an average price of $3.62, for a total value of $137,560.00.

Grab Trading Down 3.5%

Grab stock opened at $3.34 on Friday. The stock has a market cap of $13.69 billion, a PE ratio of 334.33, a P/E/G ratio of 1.52 and a beta of 0.89. The stock has a 50-day moving average price of $3.69 and a 200 day moving average price of $4.28. Grab Holdings Limited has a 52 week low of $3.33 and a 52 week high of $6.62. The company has a current ratio of 1.67, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06.

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a research report on Tuesday, May 5th. Weiss Ratings upgraded Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Mizuho dropped their price objective on Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a research report on Tuesday, May 5th. Benchmark reiterated a “buy” rating on shares of Grab in a research report on Thursday, February 12th. Finally, Zacks Research upgraded Grab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $6.19.

Institutional Trading of Grab

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH grew its holdings in Grab by 83.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 967,530 shares of the company’s stock valued at $5,825,000 after buying an additional 439,748 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in Grab by 9.8% in the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 11,821,595 shares of the company’s stock valued at $58,928,000 after buying an additional 1,050,619 shares during the period. Altimeter Capital Management LP purchased a new stake in Grab in the 3rd quarter valued at about $1,764,000. Citigroup Inc. grew its holdings in Grab by 112.6% in the 3rd quarter. Citigroup Inc. now owns 32,398,782 shares of the company’s stock valued at $195,041,000 after buying an additional 17,160,661 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in Grab by 98.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,478,218 shares of the company’s stock valued at $37,316,000 after buying an additional 3,711,860 shares during the period. Hedge funds and other institutional investors own 55.52% of the company’s stock.

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.