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

Grab Holdings Limited (NASDAQ:GRAB) insider Chin Ong sold 38,000 shares of Grab stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $3.43, for a total transaction of $130,340.00. Following the transaction, the insider directly owned 3,632,611 shares in the company, valued at $12,459,855.73. The trade was a 1.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 3rd, Chin Ong sold 38,000 shares of Grab stock. The shares were sold at an average price of $3.61, for a total transaction of $137,180.00.
• On Thursday, July 2nd, Chin Ong sold 38,000 shares of Grab stock. The shares were sold at an average price of $3.88, for a total transaction of $147,440.00.

Grab Trading Down 5.0%

Shares of NASDAQ GRAB traded down $0.17 during midday trading on Tuesday, reaching $3.25. 54,514,302 shares of the stock were exchanged, compared to its average volume of 30,388,986. The business has a 50-day simple moving average of $3.61 and a two-hundred day simple moving average of $3.68. The company has a market capitalization of $13.32 billion, a price-to-earnings ratio of 54.18, a P/E/G ratio of 0.90 and a beta of 0.89. Grab Holdings Limited has a 12 month low of $3.18 and a 12 month high of $6.62. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.52 and a quick ratio of 1.51.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $997.00 million during the quarter, compared to analysts’ expectations of $994.97 million. Grab had a net margin of 15.97% and a return on equity of 8.83%. As a group, equities research analysts expect that Grab Holdings Limited will post 0.13 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GRAB shares. Benchmark reaffirmed a “buy” rating on shares of Grab in a research report on Tuesday, August 4th. Weiss Ratings lowered Grab from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, August 17th. Morgan Stanley reissued an “overweight” rating and set a $6.25 target price on shares of Grab in a research note on Tuesday, June 30th. Barclays dropped their target price on shares of Grab from $7.00 to $5.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. Finally, Zacks Research raised shares of Grab from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $6.01.

Institutional Trading of Grab

Several hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new stake in Grab in the 4th quarter valued at approximately $161,484,000. PointState Capital LP grew its stake in shares of Grab by 411.1% during the 4th quarter. PointState Capital LP now owns 32,555,483 shares of the company’s stock worth $162,452,000 after acquiring an additional 26,186,329 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Grab by 49.2% in the fourth quarter. Marshall Wace LLP now owns 72,453,397 shares of the company’s stock valued at $361,542,000 after purchasing an additional 23,891,108 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Grab by 58.0% in the first quarter. Assenagon Asset Management S.A. now owns 54,906,371 shares of the company’s stock valued at $200,957,000 after purchasing an additional 20,152,535 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Grab by 24.9% in the third quarter. Invesco Ltd. now owns 79,797,848 shares of the company’s stock valued at $480,383,000 after purchasing an additional 15,916,063 shares during the last quarter. Institutional investors and hedge funds 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.