Insider Selling: Grab (NASDAQ:GRAB) Insider Sells $130,340.00 in Stock

Grab Holdings Limited (NASDAQ:GRAB) insider Chin Yin Ong sold 38,000 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $3.43, for a total transaction of $130,340.00. Following the completion of the sale, the insider directly owned 3,743,306 shares of the company’s stock, valued at $12,839,539.58. The trade was a 1.00% decrease in their position. The transaction was disclosed in a document filed 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 Tuesday, May 26th, Chin Yin Ong sold 48,000 shares of Grab stock. The stock was sold at an average price of $3.55, for a total transaction of $170,400.00.
• On Monday, May 4th, Chin Yin Ong sold 38,000 shares of Grab stock. The stock was sold at an average price of $3.59, for a total transaction of $136,420.00.
• On Thursday, April 2nd, Chin Yin Ong sold 38,000 shares of Grab stock. The stock was sold at an average price of $3.62, for a total transaction of $137,560.00.

Grab Stock Performance

GRAB stock opened at $3.34 on Monday. The company has a market capitalization of $13.69 billion, a P/E ratio of 334.33, a PEG ratio of 1.52 and a beta of 0.89. The company has a 50-day simple moving average of $3.69 and a 200 day simple moving average of $4.28. Grab Holdings Limited has a fifty-two week low of $3.33 and a fifty-two week high of $6.62. The company has a quick ratio of 1.65, a current ratio of 1.67 and a debt-to-equity ratio of 0.06.

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

Hedge Funds Weigh In On Grab

A number of large investors have recently made changes to their positions in GRAB. Integrated Wealth Concepts LLC increased its holdings in shares of Grab by 201.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 35,386 shares of the company’s stock valued at $160,000 after purchasing an additional 23,639 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Grab by 6.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,231,195 shares of the company’s stock valued at $41,817,000 after purchasing an additional 529,433 shares during the period. Empowered Funds LLC increased its holdings in Grab by 6.2% in the first quarter. Empowered Funds LLC now owns 52,698 shares of the company’s stock worth $239,000 after buying an additional 3,090 shares during the last quarter. Focus Partners Wealth acquired a new position in Grab in the first quarter worth approximately $63,000. Finally, Cetera Investment Advisers increased its holdings in Grab by 11.7% in the second quarter. Cetera Investment Advisers now owns 106,710 shares of the company’s stock worth $537,000 after buying an additional 11,158 shares during the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GRAB shares. Benchmark reissued a “buy” rating on shares of Grab in a report on Thursday, February 12th. Zacks Research raised shares of Grab from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Morgan Stanley set a $5.90 price target on shares of Grab in a report on Wednesday, May 6th. China Renaissance raised shares of Grab from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a report on Wednesday, May 6th. Finally, Weiss Ratings raised shares of Grab from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $6.19.

About Grab

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.