Grab (NASDAQ:GRAB) CEO Sells $1,404,000.00 in Stock

Grab Holdings Limited (NASDAQ:GRAB) CEO Anthony Ping Yeow Tan sold 400,000 shares of Grab stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $3.51, for a total value of $1,404,000.00. Following the completion of the sale, the chief executive officer owned 425,193 shares in the company, valued at approximately $1,492,427.43. The trade was a 48.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 Monday, May 11th, Anthony Ping Yeow Tan sold 400,000 shares of Grab stock. The stock was sold at an average price of $3.67, for a total value of $1,468,000.00.
• 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 Price Performance

GRAB stock traded up $0.03 during trading on Tuesday, hitting $3.49. The stock had a trading volume of 73,219,129 shares, compared to its average volume of 47,414,232. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.67 and a quick ratio of 1.65. Grab Holdings Limited has a twelve month low of $3.18 and a twelve month high of $6.62. The stock has a market capitalization of $14.30 billion, a P/E ratio of 349.35, a PEG ratio of 1.57 and a beta of 0.89. The company’s 50-day moving average price is $3.66 and its two-hundred day moving average price is $4.19.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GRAB. Integrated Wealth Concepts LLC lifted its holdings in Grab by 201.2% in the first quarter. Integrated Wealth Concepts LLC now owns 35,386 shares of the company’s stock valued at $160,000 after acquiring an additional 23,639 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Grab by 6.1% in the first quarter. Goldman Sachs Group Inc. now owns 9,231,195 shares of the company’s stock valued at $41,817,000 after acquiring an additional 529,433 shares during the last quarter. Empowered Funds LLC lifted its holdings in Grab by 6.2% in the first quarter. Empowered Funds LLC now owns 52,698 shares of the company’s stock valued at $239,000 after acquiring an additional 3,090 shares during the last quarter. Focus Partners Wealth acquired a new position in Grab in the first quarter valued at approximately $63,000. Finally, Cetera Investment Advisers lifted its holdings in Grab by 11.7% in the second quarter. Cetera Investment Advisers now owns 106,710 shares of the company’s stock valued at $537,000 after acquiring an additional 11,158 shares during the last quarter. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on GRAB shares. China Renaissance upgraded Grab from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a report on Wednesday, May 6th. Weiss Ratings upgraded Grab from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Morgan Stanley set a $5.90 target price on Grab in a report on Wednesday, May 6th. Zacks Research upgraded Grab from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Finally, JPMorgan Chase & Co. lowered their target price on Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.