Grab (NASDAQ:GRAB) CFO Peter Henry Oey Sells 50,000 Shares of Stock

Grab Holdings Limited (NASDAQ:GRAB) CFO Peter Henry Oey sold 50,000 shares of the stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $2.90, for a total value of $145,000.00. Following the sale, the chief financial officer owned 6,803,470 shares of the company’s stock, valued at approximately $19,730,063. This represents a 0.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 Monday, August 17th, Peter Henry Oey sold 50,000 shares of Grab stock. The stock was sold at an average price of $3.60, for a total value of $180,000.00.

Grab Stock Down 2.1%

Grab stock traded down $0.06 during midday trading on Thursday, reaching $2.81. The company’s stock had a trading volume of 56,797,453 shares, compared to its average volume of 46,546,744. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.52 and a quick ratio of 1.51. The stock has a market capitalization of $11.51 billion, a P/E ratio of 46.84, a PEG ratio of 0.75 and a beta of 0.89. The stock’s 50-day simple moving average is $3.48 and its 200-day simple moving average is $3.62. Grab Holdings Limited has a 52-week low of $2.81 and a 52-week high of $6.62.

Grab (NASDAQ:GRAB) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.01. The firm had revenue of $997.00 million for the quarter, compared to the consensus estimate of $994.97 million. Grab had a net margin of 15.97% and a return on equity of 8.83%. On average, sell-side analysts expect that Grab Holdings Limited will post 0.13 EPS for the current year.

Wall Street Analyst Weigh In

GRAB has been the topic of a number of research analyst reports. Barclays dropped their price objective on shares of Grab from $7.00 to $5.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. KeyCorp set a $7.00 target price on Grab in a research note on Wednesday. Morgan Stanley reaffirmed an “overweight” rating and set a $6.25 price target on shares of Grab in a research report on Tuesday, June 30th. Benchmark reiterated a “buy” rating on shares of Grab in a research note on Tuesday, August 4th. Finally, Zacks Research raised Grab from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $6.11.

Institutional Trading of Grab

Several large investors have recently made changes to their positions in GRAB. Norges Bank acquired a new position in Grab during the fourth quarter valued at $161,484,000. Assenagon Asset Management S.A. grew its position in Grab by 58.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 54,906,371 shares of the company’s stock worth $200,957,000 after purchasing an additional 20,152,535 shares during the period. Coronation Fund Managers Ltd. grew its position in Grab by 74.5% during the 1st quarter. Coronation Fund Managers Ltd. now owns 32,601,355 shares of the company’s stock worth $119,321,000 after purchasing an additional 13,919,053 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Grab during the 1st quarter valued at about $48,731,000. Finally, Bank of America Corp DE raised its stake in shares of Grab by 80.2% during the 1st quarter. Bank of America Corp DE now owns 23,993,894 shares of the company’s stock valued at $87,818,000 after buying an additional 10,681,810 shares during the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

Grab Company Profile

Grab Holdings Inc (NASDAQ: GRAB) is a technology company that operates a superapp serving consumers, drivers, merchants and businesses across Southeast Asia. Its platform connects users with transportation, food and grocery delivery, parcel and on-demand logistics, digital payments and other financial services.

The company began as a ride-hailing service in Malaysia in 2012, founded by Anthony Tan and Tan Hooi Ling, and expanded into a broader digital platform. Grab’s consumer offerings include private-hire and taxi services, GrabFood, GrabMart and GrabExpress, while its financial-services products include digital payments, lending, insurance and digital banking services offered in selected markets.

Grab serves markets across Southeast Asia, including Singapore, Malaysia, Indonesia, Thailand, Vietnam, the Philippines and Cambodia.