Grab (NASDAQ:GRAB) CEO Sells $1,468,000.00 in Stock

Grab Holdings Limited (NASDAQ:GRAB) CEO Anthony Ping Yeow Tan sold 400,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $3.67, for a total value of $1,468,000.00. Following the completion of the transaction, the chief executive officer owned 25,193 shares of the company’s stock, valued at $92,458.31. The trade was a 94.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 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 Trading Down 0.6%

GRAB stock opened at $3.55 on Friday. Grab Holdings Limited has a 1-year low of $3.46 and a 1-year high of $6.62. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.67 and a quick ratio of 1.65. The company has a market capitalization of $14.55 billion, a price-to-earnings ratio of 355.36, a PEG ratio of 1.62 and a beta of 0.93. The business has a 50 day simple moving average of $3.77 and a two-hundred day simple moving average of $4.52.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). The business had revenue of $955.00 million during the quarter, compared to the consensus estimate of $921.71 million. Grab had a return on equity of 5.79% and a net margin of 10.67%. Research analysts anticipate that Grab Holdings Limited will post 0.08 EPS for the current fiscal year.

Institutional Trading of Grab

Several hedge funds and other institutional investors have recently bought and sold shares of GRAB. Norges Bank purchased a new stake in Grab during the 4th quarter valued at $161,484,000. PointState Capital LP raised its holdings in Grab by 411.1% during the 4th quarter. PointState Capital LP now owns 32,555,483 shares of the company’s stock valued at $162,452,000 after buying an additional 26,186,329 shares during the period. Marshall Wace LLP raised its holdings in Grab by 49.2% during the 4th 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% during the 4th 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% during the 3rd 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.

Analyst Ratings Changes

GRAB has been the topic of several recent research reports. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $5.80 price objective on shares of Grab in a report on Monday, January 26th. Morgan Stanley set a $5.90 price objective on Grab in a report on Wednesday, May 6th. HSBC raised Grab from a “hold” rating to a “buy” rating and set a $6.20 price objective on the stock in a report on Friday, January 16th. Zacks Research cut Grab from a “hold” rating to a “strong sell” rating in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. decreased their price objective on Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $6.19.

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.