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

Grab Holdings Limited (NASDAQ:GRAB) CEO Anthony Ping Yeow Tan sold 400,000 shares of the stock in a transaction on Friday, July 10th. The shares were sold at an average price of $3.91, for a total value of $1,564,000.00. Following the completion of the transaction, the chief executive officer owned 28,498 shares in the company, valued at $111,427.18. The trade was a 93.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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, June 15th, Anthony Ping Yeow Tan sold 400,000 shares of Grab stock. The stock was sold at an average price of $3.51, for a total value of $1,404,000.00.
• On Monday, May 11th, Anthony Ping Yeow Tan sold 400,000 shares of Grab stock. The shares were sold at an average price of $3.67, for a total value of $1,468,000.00.

Grab Trading Down 3.6%

Shares of GRAB opened at $3.80 on Wednesday. The stock’s fifty day simple moving average is $3.60 and its 200-day simple moving average is $3.98. The firm has a market capitalization of $15.57 billion, a PE ratio of 380.38, a price-to-earnings-growth ratio of 1.51 and a beta of 0.87. Grab Holdings Limited has a 12-month low of $3.18 and a 12-month high of $6.62. 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 (NASDAQ:GRAB) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The firm had revenue of $955.00 million during the quarter, compared to analyst estimates of $921.71 million. Grab had a return on equity of 5.79% and a net margin of 10.67%. As a group, research analysts predict that Grab Holdings Limited will post 0.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GRAB. Integrated Wealth Concepts LLC raised its holdings in Grab by 201.2% in the first quarter. Integrated Wealth Concepts LLC now owns 35,386 shares of the company’s stock worth $160,000 after purchasing an additional 23,639 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Grab by 6.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,231,195 shares of the company’s stock valued at $41,817,000 after buying an additional 529,433 shares during the period. Empowered Funds LLC grew its holdings in shares of Grab by 6.2% in the 1st quarter. Empowered Funds LLC now owns 52,698 shares of the company’s stock valued at $239,000 after buying an additional 3,090 shares during the period. Focus Partners Wealth bought a new stake in shares of Grab in the 1st quarter valued at $63,000. Finally, Cetera Investment Advisers increased its position in shares of Grab by 11.7% in the 2nd quarter. Cetera Investment Advisers now owns 106,710 shares of the company’s stock valued at $537,000 after buying an additional 11,158 shares in the last quarter. Institutional investors own 55.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GRAB. Weiss Ratings raised shares of Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Barclays reduced their price objective on shares of Grab from $7.00 to $5.00 and set an “overweight” rating on the stock in a research note on Thursday, July 9th. China Renaissance raised shares of Grab from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a report on Wednesday, May 6th. JPMorgan Chase & Co. dropped their target price on shares of Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a research report on Tuesday, May 5th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $6.25 price target on shares of Grab in a research note on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Grab currently has a consensus rating of “Moderate Buy” and an average price target of $6.01.

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.