Insider Selling: Grab (NASDAQ:GRAB) CFO Sells $149,000.00 in Stock

Grab Holdings Limited (NASDAQ:GRAB) CFO Peter Oey sold 50,000 shares of Grab stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $2.98, for a total value of $149,000.00. Following the transaction, the chief financial officer owned 6,753,470 shares of the company’s stock, valued at $20,125,340.60. This represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Peter Henry Oey also recently made the following trade(s):

• On Tuesday, September 15th, Peter Oey sold 50,000 shares of Grab stock. The stock was sold at an average price of $2.90, for a total value of $145,000.00.
• On Monday, August 17th, Peter Oey sold 50,000 shares of Grab stock. The shares were sold at an average price of $3.60, for a total value of $180,000.00.

Grab Trading Down 2.4%

Shares of Grab stock opened at $2.82 on Thursday. The business has a fifty day simple moving average of $3.21 and a two-hundred day simple moving average of $3.49. Grab Holdings Limited has a 1 year low of $2.74 and a 1 year high of $6.24. The company has a market capitalization of $11.56 billion, a price-to-earnings ratio of 47.01, a P/E/G ratio of 0.51 and a beta of 0.91. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.52 and a quick ratio of 1.51.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Grab had a net margin of 15.97% and a return on equity of 8.83%. The firm had revenue of $997.00 million during the quarter, compared to analysts’ expectations of $994.97 million. Research analysts forecast that Grab Holdings Limited will post 0.14 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. LCM Capital Management Inc bought a new stake in shares of Grab in the third quarter valued at about $47,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Grab by 18.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 328,756 shares of the company’s stock worth $1,022,000 after acquiring an additional 51,300 shares during the period. Abel Hall LLC bought a new position in Grab during the third quarter worth about $45,000. Vanguard Capital Wealth Advisors increased its position in Grab by 56.1% during the third quarter. Vanguard Capital Wealth Advisors now owns 59,202 shares of the company’s stock worth $184,000 after acquiring an additional 21,282 shares during the period. Finally, AdvisorNet Financial Inc raised its stake in Grab by 18.5% in the 3rd quarter. AdvisorNet Financial Inc now owns 120,849 shares of the company’s stock worth $352,000 after purchasing an additional 18,865 shares in the last quarter. Institutional investors own 55.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GRAB. KeyCorp set a $7.00 target price on shares of Grab in a research note on Wednesday, September 16th. Benchmark reiterated a “buy” rating on shares of Grab in a research note on Tuesday, August 4th. Weiss Ratings cut shares of Grab from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, August 17th. Zacks Research raised shares of Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Finally, Bank of America restated a “buy” rating on shares of Grab in a research report on Friday, September 25th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $6.01.

About Grab

Grab Holdings Inc (NASDAQ:GRAB) is a technology company that operates a superapp serving consumers, drivers, merchants and businesses across Southeast Asia. The company began as a ride-hailing service in Malaysia in 2012 and is headquartered in Singapore.

Grab’s platform provides mobility services, including ride-hailing, taxi bookings and other transportation options. It also offers food, grocery and package deliveries, connecting users with restaurants, retailers and delivery partners through its digital marketplace.

In addition, Grab provides digital financial services in selected markets, including payments, consumer and merchant lending, digital banking and insurance-related products.