Grab (NASDAQ:GRAB) CEO Anthony Ping Yeow Tan Sells 800,000 Shares of Company Stock

Grab Holdings Limited (NASDAQ:GRAB) CEO Ping Tan sold 800,000 shares of the firm’s stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $3.51, for a total value of $2,808,000.00. Following the completion of the transaction, the chief executive officer directly owned 10,778,498 shares in the company, valued at $37,832,527.98. This trade represents a 6.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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, September 21st, Ping Tan acquired 10,350,000 shares of Grab stock. The shares were bought at an average cost of $2.89 per share, for a total transaction of $29,911,500.00.

Grab Trading Down 2.6%

Shares of NASDAQ:GRAB opened at $3.35 on Wednesday. The stock has a 50 day moving average of $3.06 and a 200 day moving average of $3.60. The company has a market cap of $13.73 billion, a PE ratio of 67.01, a price-to-earnings-growth ratio of 0.71 and a beta of 0.83. The company has a current ratio of 1.38, a quick ratio of 1.37 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.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in Grab by 6.4% in the 2nd quarter. BlackRock Inc. now owns 156,175,807 shares of the company’s stock worth $588,783,000 after purchasing an additional 9,357,389 shares during the period. Coronation Fund Managers Ltd. raised its position in shares of Grab by 74.5% during the first quarter. Coronation Fund Managers Ltd. now owns 32,601,355 shares of the company’s stock valued at $119,321,000 after buying an additional 13,919,053 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Grab by 13.4% during the second quarter. Principal Financial Group Inc. now owns 24,289,581 shares of the company’s stock valued at $91,572,000 after buying an additional 2,867,458 shares during the last quarter. Bank of America Corp DE raised its position in shares of Grab by 80.2% during the first 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. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Grab by 16.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 17,687,253 shares of the company’s stock worth $68,200,000 after buying an additional 2,486,750 shares in the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Weiss Ratings raised shares of Grab from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, November 3rd. Zacks Research lowered shares of Grab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 4th. Benchmark reissued a “buy” rating on shares of Grab in a research note on Tuesday, August 4th. KeyCorp set a $7.00 price objective on shares of Grab in a research report on Wednesday, September 16th. Finally, Barclays decreased their price objective on shares of Grab from $5.00 to $4.00 and set an “overweight” rating on the stock in a research report on Monday, October 19th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Grab has an average rating of “Moderate Buy” and a consensus price target of $5.67.

Grab Company Profile

Grab Holdings Limited operates a digital platform that connects consumers, driver- and merchant-partners across Southeast Asia. Its services include ride-hailing and other mobility options, food and grocery delivery, and parcel delivery, offered through the Grab app. The company also provides digital financial services, including payments and lending, and works with partners on products such as insurance and digital banking. Its offerings and availability vary by market. Grab began in Malaysia in 2012 as MyTeksi, a taxi-booking service founded by Anthony Tan and Tan Hooi Ling, and later expanded across the region.