Insider Selling: Grab (NASDAQ:GRAB) CEO Sells $1,472,000.00 in Stock

Grab Holdings Limited (NASDAQ:GRAB) CEO Anthony Ping Yeow Tan sold 400,000 shares of the company’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $3.68, for a total transaction of $1,472,000.00. Following the completion of the transaction, the chief executive officer owned 425,193 shares in the company, valued at approximately $1,564,710.24. This trade represents a 48.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Grab Price Performance

NASDAQ:GRAB opened at $3.92 on Thursday. The firm has a market cap of $16.06 billion, a price-to-earnings ratio of 130.71, a price-to-earnings-growth ratio of 0.91 and a beta of 0.99. The company has a current ratio of 1.75, a quick ratio of 1.73 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average is $3.93 and its two-hundred day moving average is $4.82. Grab Holdings Limited has a 12-month low of $3.48 and a 12-month high of $6.62.

Grab (NASDAQ:GRAB) last released its earnings results on Wednesday, February 11th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. The company had revenue of $906.00 million for the quarter, compared to analyst estimates of $942.08 million. Grab had a net margin of 7.92% and a return on equity of 4.09%. Research analysts expect that Grab Holdings Limited will post 0.05 EPS for the current year.

Hedge Funds Weigh In On Grab

A number of large investors have recently bought and sold shares of GRAB. Norges Bank purchased a new position in Grab during the fourth quarter worth approximately $161,484,000. PointState Capital LP increased its position in 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 purchasing an additional 26,186,329 shares in the last quarter. Marshall Wace LLP raised its holdings in 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 buying an additional 23,891,108 shares during the period. Assenagon Asset Management S.A. raised its holdings in Grab by 173.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 34,753,836 shares of the company’s stock valued at $173,422,000 after buying an additional 22,038,961 shares during the period. Finally, Citigroup Inc. raised its holdings in Grab by 112.6% in the third quarter. Citigroup Inc. now owns 32,398,782 shares of the company’s stock valued at $195,041,000 after buying an additional 17,160,661 shares during the period. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on GRAB shares. Sanford C. Bernstein restated an “outperform” rating and issued a $5.80 target price on shares of Grab in a report on Monday, January 26th. HSBC raised shares of Grab from a “hold” rating to a “buy” rating and set a $6.20 price objective for the company in a research note on Friday, January 16th. Benchmark reaffirmed a “buy” rating on shares of Grab in a research note on Thursday, February 12th. Wall Street Zen raised shares of Grab from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Grab in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $6.67.

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.