Anthony Ping Yeow Tan Sells 400,000 Shares of Grab (NASDAQ:GRAB) Stock

Grab Holdings Limited (NASDAQ:GRAB) CEO Anthony Ping Yeow Tan sold 400,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $3.51, for a total value of $1,404,000.00. Following the transaction, the chief executive officer owned 425,193 shares of the company’s stock, valued at approximately $1,492,427.43. This represents a 48.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Anthony Ping Yeow Tan also recently made the following trade(s):

• On Monday, May 11th, Anthony Ping Yeow Tan sold 400,000 shares of Grab stock. The stock was sold at an average price of $3.67, for a total value of $1,468,000.00.
• On Friday, April 10th, Anthony Ping Yeow Tan sold 400,000 shares of Grab stock. The stock was sold at an average price of $3.68, for a total value of $1,472,000.00.

Grab Stock Performance

NASDAQ GRAB opened at $3.45 on Thursday. The stock has a market cap of $14.14 billion, a PE ratio of 345.35, a P/E/G ratio of 1.58 and a beta of 0.89. The company has a current ratio of 1.67, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. 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 $3.65 and a 200-day simple moving average of $4.17.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.01) earnings per share 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 business had revenue of $955.00 million for the quarter, compared to analysts’ expectations of $921.71 million. Equities analysts anticipate that Grab Holdings Limited will post 0.08 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Weiss Ratings raised Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Mizuho decreased their target price on Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. JPMorgan Chase & Co. decreased their target price on Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a research note on Tuesday, May 5th. Morgan Stanley set a $5.90 target price on Grab in a research note on Wednesday, May 6th. Finally, Zacks Research raised Grab from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.19.

Institutional Investors Weigh In On Grab

A number of hedge funds have recently bought and sold shares of the stock. Invesco Ltd. raised its position in Grab by 24.9% in the 3rd quarter. Invesco Ltd. now owns 79,797,848 shares of the company’s stock valued at $480,383,000 after purchasing an additional 15,916,063 shares in the last quarter. Marshall Wace LLP raised its position in Grab by 49.2% in the 4th quarter. Marshall Wace LLP now owns 72,453,397 shares of the company’s stock valued at $361,542,000 after purchasing an additional 23,891,108 shares in the last quarter. JPMorgan Chase & Co. raised its position in Grab by 1.6% in the 4th quarter. JPMorgan Chase & Co. now owns 56,669,014 shares of the company’s stock valued at $282,778,000 after purchasing an additional 878,966 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Grab by 58.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 54,906,371 shares of the company’s stock valued at $200,957,000 after purchasing an additional 20,152,535 shares in the last quarter. Finally, State Street Corp raised its position in Grab by 5.7% in the 4th quarter. State Street Corp now owns 45,938,139 shares of the company’s stock valued at $229,231,000 after purchasing an additional 2,466,572 shares in the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

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.