Grab (NASDAQ:GRAB) Stock: Insider Anthony Ping Yeow Tan Sells 800,000 Shares

Grab Holdings Limited (NASDAQ:GRAB) CEO Ping Tan sold 800,000 shares of the business’s stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $3.51, for a total transaction of $2,808,000.00. Following the transaction, the chief executive officer directly owned 10,778,498 shares of the company’s stock, valued at $37,832,527.98. The trade was a 6.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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, September 21st, Ping Tan acquired 10,350,000 shares of Grab stock. The shares were bought at an average price of $2.89 per share, for a total transaction of $29,911,500.00.

Grab Stock Down 0.6%

Shares of Grab stock opened at $3.33 on Thursday. Grab Holdings Limited has a twelve month low of $2.67 and a twelve month high of $6.02. The company has a quick ratio of 1.37, a current ratio of 1.38 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $3.06 and its 200 day moving average is $3.59. The company has a market cap of $13.65 billion, a price-to-earnings ratio of 66.61, a price-to-earnings-growth ratio of 0.69 and a beta of 0.83.

Hedge Funds Weigh In On Grab

Several institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in shares of Grab by 6.4% in the second quarter. BlackRock Inc. now owns 156,175,807 shares of the company’s stock worth $588,783,000 after buying an additional 9,357,389 shares during the last quarter. Coronation Fund Managers Ltd. grew its position in Grab by 74.5% during the first quarter. Coronation Fund Managers Ltd. now owns 32,601,355 shares of the company’s stock valued at $119,321,000 after buying an additional 13,919,053 shares during the period. Principal Financial Group Inc. increased its holdings in Grab by 13.4% during the second quarter. Principal Financial Group Inc. now owns 24,289,581 shares of the company’s stock valued at $91,572,000 after buying an additional 2,867,458 shares during the last quarter. Bank of America Corp DE increased its holdings in Grab by 80.2% during the first quarter. Bank of America Corp DE now owns 23,993,894 shares of the company’s stock valued at $87,818,000 after buying an additional 10,681,810 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Grab by 20.6% during the third quarter. Russell Investments Group Ltd. now owns 21,206,808 shares of the company’s stock valued at $65,956,000 after buying an additional 3,623,480 shares during the last quarter. Institutional investors own 55.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Weiss Ratings upgraded shares of Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, November 3rd. Zacks Research cut Grab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 4th. JPMorgan Chase & Co. raised their price target on Grab from $4.80 to $5.10 and gave the stock an “overweight” rating in a research note on Tuesday, November 3rd. Bank of America reaffirmed a “buy” rating on shares of Grab in a report on Friday, September 25th. Finally, Barclays cut their price objective on Grab from $5.00 to $4.00 and set an “overweight” rating for the company in a report on Monday, October 19th. One research 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $5.67.

Grab Company Profile

Grab Holdings Limited operates a digital platform that connects consumers, driver- and merchant-partners across Southeast Asia. Its services include ride-hailing and other mobility options, food and grocery delivery, and parcel delivery, offered through the Grab app. The company also provides digital financial services, including payments and lending, and works with partners on products such as insurance and digital banking. Its offerings and availability vary by market. Grab began in Malaysia in 2012 as MyTeksi, a taxi-booking service founded by Anthony Tan and Tan Hooi Ling, and later expanded across the region.