Grab (NASDAQ:GRAB) Stock: Insider Chin Yin Ong Sells 38,000 Shares

Grab Holdings Limited (NASDAQ:GRAB) insider Chin Ong sold 38,000 shares of the company’s stock in a transaction on Monday, October 5th. The shares were sold at an average price of $3.09, for a total transaction of $117,420.00. Following the sale, the insider directly owned 3,594,611 shares in the company, valued at $11,107,347.99. This trade represents a 1.05% decrease in their position. 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.

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

• On Thursday, September 3rd, Chin Ong sold 38,000 shares of Grab stock. The stock was sold at an average price of $3.43, for a total value of $130,340.00.
• On Monday, August 3rd, Chin Ong sold 38,000 shares of Grab stock. The stock was sold at an average price of $3.61, for a total value of $137,180.00.

Grab Trading Up 0.3%

Shares of NASDAQ:GRAB traded up $0.01 during midday trading on Wednesday, reaching $3.08. The company’s stock had a trading volume of 90,184,860 shares, compared to its average volume of 85,002,728. Grab Holdings Limited has a fifty-two week low of $2.74 and a fifty-two week high of $6.44. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.51 and a current ratio of 1.52. The firm has a 50 day moving average price of $3.34 and a two-hundred day moving average price of $3.54. The firm has a market capitalization of $12.62 billion, a price-to-earnings ratio of 51.34, a PEG ratio of 0.73 and a beta of 0.91.

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

Analysts Set New Price Targets

GRAB has been the topic of a number of research reports. Morgan Stanley reiterated an “overweight” rating and set a $6.25 target price on shares of Grab in a research report on Tuesday, June 30th. Bank of America reiterated a “buy” rating on shares of Grab in a report on Friday, September 25th. Weiss Ratings cut shares of Grab from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, August 17th. KeyCorp set a $7.00 target price on Grab in a research note on Wednesday, September 16th. Finally, Barclays decreased their target price on Grab from $7.00 to $5.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $6.11.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of Grab during the fourth quarter valued at about $25,000. Montag A & Associates Inc. bought a new position in Grab in the 1st quarter valued at about $27,000. Strategic Global Advisors LLC bought a new position in Grab in the 2nd quarter valued at about $41,000. NewEdge Wealth LLC acquired a new position in Grab during the 1st quarter valued at about $42,000. Finally, 71 West Capital Partners bought a new stake in Grab during the 2nd quarter worth approximately $43,000. Institutional investors and hedge funds own 55.52% of the company’s stock.

About Grab

Grab Holdings Limited is a Singapore-based technology company that operates a superapp serving consumers, drivers, merchants and businesses across Southeast Asia. Its platform connects users with everyday services through a single digital application.

The company’s main businesses include mobility services such as ride-hailing and taxi bookings, food and grocery delivery, and digital payments. Grab also provides financial services, including digital wallets, lending, insurance and other financial products, subject to local regulations.