Grab (NASDAQ:GRAB) CFO Sells $176,500.00 in Stock

Grab Holdings Limited (NASDAQ:GRAB) CFO Peter Henry Oey sold 50,000 shares of Grab stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $3.53, for a total transaction of $176,500.00. Following the completion of the transaction, the chief financial officer owned 6,950,165 shares of the company’s stock, valued at $24,534,082.45. The trade was a 0.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Peter Henry Oey also recently made the following trade(s):

• On Friday, May 15th, Peter Henry Oey sold 50,000 shares of Grab stock. The shares were sold at an average price of $3.54, for a total value of $177,000.00.
• On Wednesday, April 15th, Peter Henry Oey sold 50,000 shares of Grab stock. The stock was sold at an average price of $3.92, for a total value of $196,000.00.

Grab Price Performance

Shares of NASDAQ:GRAB opened at $3.57 on Friday. The company has a 50 day moving average of $3.65 and a 200 day moving average of $4.15. The stock has a market cap of $14.63 billion, a P/E ratio of 357.36, a P/E/G ratio of 1.62 and a beta of 0.89. The company has a current ratio of 1.67, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. Grab Holdings Limited has a 12 month low of $3.18 and a 12 month high of $6.62.

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

Hedge Funds Weigh In On Grab

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in shares of Grab by 9.8% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 11,821,595 shares of the company’s stock valued at $58,928,000 after acquiring an additional 1,050,619 shares during the last quarter. Altimeter Capital Management LP purchased a new position in shares of Grab during the third quarter valued at approximately $1,764,000. Citigroup Inc. raised its holdings in shares of Grab by 112.6% during the third quarter. Citigroup Inc. now owns 32,398,782 shares of the company’s stock valued at $195,041,000 after purchasing an additional 17,160,661 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Grab by 98.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,478,218 shares of the company’s stock valued at $37,316,000 after purchasing an additional 3,711,860 shares during the period. Finally, Oaktree Capital Management LP lifted its position in Grab by 4.5% during the third quarter. Oaktree Capital Management LP now owns 12,094,495 shares of the company’s stock valued at $72,809,000 after purchasing an additional 525,200 shares during the period. 55.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GRAB. China Renaissance raised Grab from a “hold” rating to a “buy” rating and set a $5.00 price objective on the stock in a report on Wednesday, May 6th. JPMorgan Chase & Co. dropped their target price on Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a report on Tuesday, May 5th. Morgan Stanley set a $5.90 price objective on shares of Grab in a research report on Wednesday, May 6th. Weiss Ratings raised Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Finally, Mizuho decreased their price objective on shares of Grab from $7.00 to $6.00 and set an “outperform” rating for the company 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 and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus 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.