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 stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $3.21, for a total transaction of $121,980.00. Following the completion of the transaction, the insider owned 3,556,611 shares in the company, valued at $11,416,721.31. This represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, October 5th, Chin Ong sold 38,000 shares of Grab stock. The stock was sold at an average price of $3.09, for a total value of $117,420.00.
• On Thursday, September 3rd, Chin Ong sold 38,000 shares of Grab stock. The shares were sold at an average price of $3.43, for a total transaction of $130,340.00.

Grab Trading Down 2.0%

NASDAQ GRAB opened at $3.41 on Friday. The stock has a 50-day simple moving average of $3.07 and a 200 day simple moving average of $3.61. The company has a current ratio of 1.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.06. Grab Holdings Limited has a 12 month low of $2.67 and a 12 month high of $6.24. The company has a market capitalization of $13.97 billion, a PE ratio of 68.21, a P/E/G ratio of 0.50 and a beta of 0.83.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 15.97% and a return on equity of 8.83%. Research analysts forecast that Grab Holdings Limited will post 0.13 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Barclays reduced their price objective on Grab from $5.00 to $4.00 and set an “overweight” rating on the stock in a research report on Monday, October 19th. JPMorgan Chase & Co. boosted their price objective on shares of Grab from $4.80 to $5.10 and gave the company an “overweight” rating in a research report on Tuesday. Zacks Research downgraded shares of Grab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Benchmark reaffirmed a “buy” rating on shares of Grab in a report on Tuesday, August 4th. Finally, KeyCorp set a $7.00 price objective on shares of Grab in a report on Wednesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Grab currently has an average rating of “Moderate Buy” and a consensus price target of $5.67.

Institutional Investors Weigh In On Grab

Several institutional investors have recently added to or reduced their stakes in the business. Aberdeen Group plc lifted its stake in shares of Grab by 6.8% in the 3rd quarter. Aberdeen Group plc now owns 484,963 shares of the company’s stock valued at $1,508,000 after purchasing an additional 30,799 shares during the last quarter. Pinegrove Venture Partners LLC purchased a new stake in shares of Grab during the third quarter valued at $66,000. Russell Investments Group Ltd. lifted its holdings in Grab by 20.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 21,206,808 shares of the company’s stock worth $65,956,000 after purchasing an additional 3,623,480 shares during the last quarter. Eurizon Capital SGR S.p.A. grew its position in Grab by 1.8% in the third quarter. Eurizon Capital SGR S.p.A. now owns 1,181,851 shares of the company’s stock valued at $3,676,000 after acquiring an additional 20,515 shares during the period. Finally, Alpha Wealth Funds LLC bought a new position in Grab during the third quarter worth about $312,000. Institutional investors and hedge funds own 55.52% of the company’s stock.

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.