Insider Selling: Grab (NASDAQ:GRAB) Insider Sells $137,180.00 in Stock

Grab Holdings Limited (NASDAQ:GRAB) insider Chin Yin Ong sold 38,000 shares of Grab stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $3.61, for a total transaction of $137,180.00. Following the sale, the insider owned 3,670,611 shares of the company’s stock, valued at approximately $13,250,905.71. This represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a legal 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 Thursday, July 2nd, Chin Yin Ong sold 38,000 shares of Grab stock. The stock was sold at an average price of $3.88, for a total transaction of $147,440.00.
• 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 shares were sold at an average price of $3.55, for a total value of $170,400.00.

Grab Trading Down 0.3%

Shares of NASDAQ GRAB opened at $3.66 on Friday. The company has a current ratio of 1.52, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $15.00 billion, a PE ratio of 61.01, a PEG ratio of 0.91 and a beta of 0.89. Grab Holdings Limited has a twelve month low of $3.18 and a twelve month high of $6.62. The stock has a fifty day simple moving average of $3.58 and a 200-day simple moving average of $3.82.

Grab (NASDAQ:GRAB) last released its earnings results on Tuesday, August 4th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. The company had revenue of $997.00 million during the quarter, compared to the consensus estimate of $994.97 million. Grab had a return on equity of 8.83% and a net margin of 15.97%. On average, equities analysts forecast that Grab Holdings Limited will post 0.14 earnings per share for the current year.

Institutional Investors Weigh In On Grab

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Grab by 6.4% during the 2nd quarter. BlackRock Inc. now owns 156,175,807 shares of the company’s stock worth $588,783,000 after purchasing an additional 9,357,389 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Grab by 7.2% during the second quarter. Deutsche Bank AG now owns 8,172,800 shares of the company’s stock worth $30,811,000 after purchasing an additional 546,224 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Grab by 1.4% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,751,627 shares of the company’s stock valued at $10,374,000 after buying an additional 37,459 shares during the last quarter. Ashoka WhiteOak Capital Pte Ltd increased its holdings in Grab by 61.1% in the second quarter. Ashoka WhiteOak Capital Pte Ltd now owns 1,268,010 shares of the company’s stock valued at $4,742,000 after buying an additional 481,000 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Grab by 0.8% in the second quarter. Russell Investments Group Ltd. now owns 17,583,328 shares of the company’s stock valued at $66,281,000 after buying an additional 143,780 shares in the last quarter. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GRAB shares. China Renaissance raised shares of Grab from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a research note on Wednesday, May 6th. Zacks Research upgraded shares of Grab from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Benchmark reiterated a “buy” rating on shares of Grab in a research note on Tuesday. Mizuho lowered their target price on Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. Finally, JPMorgan Chase & Co. cut their price target on Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $6.01.

About Grab

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.