Insider Selling: Grab (NASDAQ:GRAB) Insider Sells 38,000 Shares

Grab Holdings Limited (NASDAQ:GRAB) insider Chin Yin Ong sold 38,000 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $3.88, for a total value of $147,440.00. Following the sale, the insider owned 3,708,611 shares in the company, valued at approximately $14,389,410.68. This trade represents a 1.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 Wednesday, June 3rd, Chin Yin Ong sold 38,000 shares of Grab stock. The stock was sold at an average price of $3.43, for a total value 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 shares were sold at an average price of $3.59, for a total value of $136,420.00.

Grab Price Performance

Shares of GRAB traded up $0.01 during trading hours on Thursday, reaching $3.90. 31,335,401 shares of the company traded hands, compared to its average volume of 53,278,688. The stock has a market capitalization of $15.98 billion, a PE ratio of 390.39, a price-to-earnings-growth ratio of 1.77 and a beta of 0.87. The stock has a fifty day simple moving average of $3.60 and a 200 day simple moving average of $4.05. Grab Holdings Limited has a fifty-two week low of $3.18 and a fifty-two week high of $6.62. The company has a quick ratio of 1.65, a current ratio of 1.67 and a debt-to-equity ratio of 0.06.

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

Hedge Funds Weigh In On Grab

Hedge funds have recently made changes to their positions in the stock. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of Grab during the 4th quarter worth $25,000. Montag A & Associates Inc. purchased a new position in shares of Grab in the 1st quarter worth $27,000. Parallel Advisors LLC raised its position in shares of Grab by 305.5% in the 4th quarter. Parallel Advisors LLC now owns 6,107 shares of the company’s stock worth $30,000 after buying an additional 4,601 shares during the period. Signaturefd LLC boosted its holdings in Grab by 64.6% in the fourth quarter. Signaturefd LLC now owns 6,479 shares of the company’s stock valued at $32,000 after acquiring an additional 2,543 shares during the last quarter. Finally, Advocate Investing Services LLC purchased a new stake in Grab during the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 55.52% of the company’s stock.

Analysts Set New Price Targets

GRAB has been the topic of several recent analyst reports. Weiss Ratings raised shares of Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Morgan Stanley reaffirmed an “overweight” rating and issued a $6.25 target price on shares of Grab in a research note on Tuesday. JPMorgan Chase & Co. cut their price target on Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a report on Tuesday, May 5th. Zacks Research upgraded Grab from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Finally, Mizuho lowered 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. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently 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.