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

Grab Holdings Limited (NASDAQ:GRAB) insider Chin Ong sold 38,000 shares of the firm’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $3.09, for a total transaction of $117,420.00. Following the completion of the sale, the insider owned 3,594,611 shares in the company, valued at $11,107,347.99. This represents a 1.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Thursday, September 3rd, Chin Ong sold 38,000 shares of Grab stock. The stock was sold at an average price of $3.43, for a total transaction of $130,340.00.
• On Monday, August 3rd, Chin Ong sold 38,000 shares of Grab stock. The stock was sold at an average price of $3.61, for a total transaction of $137,180.00.

Grab Stock Up 1.0%

Shares of GRAB opened at $3.11 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.51 and a current ratio of 1.52. Grab Holdings Limited has a 52 week low of $2.74 and a 52 week high of $6.40. The stock has a market capitalization of $12.74 billion, a price-to-earnings ratio of 51.84, a PEG ratio of 0.74 and a beta of 0.91. The stock has a fifty day moving average of $3.34 and a 200-day moving average of $3.54.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Grab had a return on equity of 8.83% and a net margin of 15.97%.The business had revenue of $997.00 million for the quarter, compared to analyst estimates of $994.97 million. As a group, sell-side analysts anticipate that Grab Holdings Limited will post 0.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $6.25 price objective on shares of Grab in a research note on Tuesday, June 30th. Benchmark reiterated a “buy” rating on shares of Grab in a research report on Tuesday, August 4th. Barclays reduced 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. KeyCorp set a $7.00 price target on shares of Grab in a research note on Wednesday, September 16th. Finally, Bank of America reiterated a “buy” rating on shares of Grab in a report on Friday, September 25th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $6.11.

Institutional Trading of Grab

Institutional investors have recently added to or reduced their stakes in the stock. Andra AP fonden raised its holdings in Grab by 27.6% during the 2nd quarter. Andra AP fonden now owns 1,707,100 shares of the company’s stock worth $6,436,000 after purchasing an additional 369,700 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of Grab by 6.2% in the 2nd quarter. Tidal Investments LLC now owns 487,340 shares of the company’s stock valued at $1,837,000 after purchasing an additional 28,398 shares during the last quarter. National Pension Service increased its position in shares of Grab by 40.6% during the second quarter. National Pension Service now owns 217,156 shares of the company’s stock worth $819,000 after buying an additional 62,686 shares during the period. Engineers Gate Manager LP bought a new position in Grab during the second quarter worth $621,000. Finally, Integrated Wealth Concepts LLC bought a new position in Grab during the second quarter worth $59,000. 55.52% of the stock is currently owned by institutional investors.

About Grab

Grab Holdings Limited is a Singapore-based technology company that operates a superapp serving consumers, drivers, merchants and businesses across Southeast Asia. Its platform connects users with everyday services through a single digital application.

The company’s main businesses include mobility services such as ride-hailing and taxi bookings, food and grocery delivery, and digital payments. Grab also provides financial services, including digital wallets, lending, insurance and other financial products, subject to local regulations.