Insider Selling: Grab (NASDAQ:GRAB) Insider Sells $121,980.00 in Stock

Grab Holdings Limited (NASDAQ:GRAB) insider Chin Ong sold 38,000 shares of Grab stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $3.21, for a total transaction of $121,980.00. Following the completion of the transaction, the insider directly owned 3,556,611 shares in the company, valued at approximately $11,416,721.31. The trade was a 1.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 transaction 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 Price Performance

Shares of GRAB opened at $3.41 on Friday. The company has a 50 day moving average of $3.07 and a two-hundred day moving average of $3.61. The company has a quick ratio of 1.51, a current ratio of 1.38 and a debt-to-equity ratio of 0.06. Grab Holdings Limited has a twelve month low of $2.67 and a twelve month high of $6.24. The company has a market cap of $13.97 billion, a price-to-earnings ratio of 68.21, a price-to-earnings-growth ratio of 0.72 and a beta of 0.83.

Analysts Set New Price Targets

GRAB has been the subject of a number of recent analyst reports. Benchmark reissued a “buy” rating on shares of Grab in a research report on Tuesday, August 4th. JPMorgan Chase & Co. raised their price target on Grab from $4.80 to $5.10 and gave the stock an “overweight” rating in a report on Tuesday, November 3rd. KeyCorp set a $7.00 price target on Grab in a research note on Wednesday, September 16th. Weiss Ratings upgraded Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday. Finally, Barclays cut their price objective on shares of Grab from $5.00 to $4.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. One investment 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, Grab currently has an average rating of “Moderate Buy” and a consensus target price of $5.67.

Hedge Funds Weigh In On Grab

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

About Grab

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.