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

Grab Holdings Limited (NASDAQ:GRAB) insider Chin Yin Ong sold 38,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $3.43, for a total value of $130,340.00. Following the completion of the sale, the insider directly owned 3,743,306 shares in the company, valued at approximately $12,839,539.58. The trade was a 1.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Chin Yin Ong also recently made the following trade(s):

• 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.
• 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.
• On Thursday, April 2nd, Chin Yin Ong sold 38,000 shares of Grab stock. The shares were sold at an average price of $3.62, for a total value of $137,560.00.

Grab Price Performance

Shares of NASDAQ GRAB traded down $0.12 during trading hours on Friday, reaching $3.34. 48,685,606 shares of the stock traded hands, compared to its average volume of 44,195,736. The company has a market capitalization of $13.69 billion, a P/E ratio of 334.33, a price-to-earnings-growth ratio of 1.57 and a beta of 0.89. 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 Holdings Limited has a 52-week low of $3.33 and a 52-week high of $6.62. The company’s 50-day simple moving average is $3.69 and its two-hundred day simple moving average is $4.28.

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a research note on Tuesday, May 5th. 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. Mizuho decreased their target price on shares of Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Morgan Stanley set a $5.90 target price on shares of Grab in a research note on Wednesday, May 6th. Finally, Weiss Ratings raised Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $6.19.

Institutional Investors Weigh In On Grab

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in Grab in the fourth quarter worth $25,000. Parallel Advisors LLC grew its stake in Grab by 305.5% in the fourth quarter. Parallel Advisors LLC now owns 6,107 shares of the company’s stock worth $30,000 after purchasing an additional 4,601 shares during the period. Advisory Services Network LLC purchased a new stake in Grab in the third quarter worth $38,000. Signaturefd LLC grew its stake in Grab by 64.6% in the fourth quarter. Signaturefd LLC now owns 6,479 shares of the company’s stock worth $32,000 after purchasing an additional 2,543 shares during the period. Finally, Larson Financial Group LLC grew its stake in Grab by 162,500.0% in the third quarter. Larson Financial Group LLC now owns 6,504 shares of the company’s stock worth $39,000 after purchasing an additional 6,500 shares during the period. 55.52% of the stock is owned by hedge funds and other institutional investors.

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.