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 Grab stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $3.51, for a total transaction of $2,808,000.00. Following the transaction, the chief executive officer owned 10,778,498 shares of the company’s stock, valued at $37,832,527.98. The trade was a 6.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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, September 21st, Ping Tan purchased 10,350,000 shares of Grab stock. The stock was bought at an average cost of $2.89 per share, for a total transaction of $29,911,500.00.

Grab Stock Down 2.6%

Shares of Grab stock traded down $0.09 during midday trading on Tuesday, hitting $3.35. The company had a trading volume of 82,320,323 shares, compared to its average volume of 70,443,016. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.37 and a current ratio of 1.38. The stock has a market capitalization of $13.73 billion, a P/E ratio of 67.01, a P/E/G ratio of 0.71 and a beta of 0.83. The company has a 50 day moving average of $3.06 and a 200 day moving average of $3.60. Grab Holdings Limited has a 52-week low of $2.67 and a 52-week high of $6.24.

Institutional Trading of Grab

A number of institutional investors and hedge funds have recently modified their holdings of the business. Resona Asset Management Co. Ltd. boosted its holdings in shares of Grab by 0.4% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 721,569 shares of the company’s stock valued at $2,628,000 after acquiring an additional 2,858 shares during the last quarter. KBC Group NV grew its stake in shares of Grab by 0.4% in the first quarter. KBC Group NV now owns 1,096,393 shares of the company’s stock worth $4,012,000 after acquiring an additional 4,170 shares during the period. Keybank National Association OH grew its stake in shares of Grab by 34.7% in the first quarter. Keybank National Association OH now owns 16,677 shares of the company’s stock worth $61,000 after acquiring an additional 4,295 shares during the period. HB Wealth Management LLC raised its holdings in shares of Grab by 11.7% during the first quarter. HB Wealth Management LLC now owns 48,140 shares of the company’s stock valued at $176,000 after purchasing an additional 5,059 shares during the last quarter. Finally, HighTower Advisors LLC raised its holdings in shares of Grab by 9.9% during the third quarter. HighTower Advisors LLC now owns 59,258 shares of the company’s stock valued at $184,000 after purchasing an additional 5,324 shares during the last quarter. Institutional investors own 55.52% of the company’s stock.

Analysts Set New Price Targets

GRAB has been the topic of a number of recent research reports. Barclays cut their target price on Grab from $5.00 to $4.00 and set an “overweight” rating on the stock in a research note on Monday, October 19th. Bank of America reaffirmed a “buy” rating on shares of Grab in a research report on Friday, September 25th. Zacks Research cut shares of Grab from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 4th. Weiss Ratings raised shares of Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, November 3rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Grab from $4.80 to $5.10 and gave the company an “overweight” rating in a research note on Tuesday, November 3rd. One research 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $5.67.

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.