Grab (NASDAQ:GRAB) Insider Chin Yin Ong Sells 38,000 Shares of Stock

Grab Holdings Limited (NASDAQ:GRAB) insider Chin Yin Ong sold 38,000 shares of the company’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $3.62, for a total transaction of $137,560.00. Following the transaction, the insider directly owned 2,116,051 shares of the company’s stock, valued at approximately $7,660,104.62. This trade represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Grab Price Performance

Shares of Grab stock opened at $3.56 on Tuesday. The company has a quick ratio of 1.73, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The company has a market cap of $14.59 billion, a PE ratio of 118.71, a P/E/G ratio of 0.86 and a beta of 0.99. The business has a 50 day moving average of $4.03 and a 200 day moving average of $4.93. Grab Holdings Limited has a 52 week low of $3.36 and a 52 week high of $6.62.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. The company had revenue of $906.00 million during the quarter, compared to the consensus estimate of $942.08 million. Grab had a net margin of 7.92% and a return on equity of 4.09%. As a group, equities research analysts forecast that Grab Holdings Limited will post 0.05 earnings per share for the current year.

Analyst Upgrades and Downgrades

GRAB has been the subject of several analyst reports. Sanford C. Bernstein restated an “outperform” rating and set a $5.80 price target on shares of Grab in a report on Monday, January 26th. Weiss Ratings restated a “hold (c-)” rating on shares of Grab in a report on Thursday, January 22nd. Benchmark restated a “buy” rating on shares of Grab in a report on Thursday, February 12th. Wall Street Zen upgraded Grab from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Finally, HSBC raised shares of Grab from a “hold” rating to a “buy” rating and set a $6.20 price target for the company in a research report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Grab presently has an average rating of “Buy” and a consensus target price of $6.47.

Institutional Investors Weigh In On Grab

Hedge funds have recently modified their holdings of the business. Norges Bank bought a new position in shares of Grab during the 4th quarter valued at approximately $161,484,000. PointState Capital LP boosted its holdings in Grab by 411.1% in the 4th quarter. PointState Capital LP now owns 32,555,483 shares of the company’s stock worth $162,452,000 after buying an additional 26,186,329 shares during the period. Marshall Wace LLP boosted its holdings in Grab by 49.2% in the 4th quarter. Marshall Wace LLP now owns 72,453,397 shares of the company’s stock worth $361,542,000 after buying an additional 23,891,108 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Grab by 173.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 34,753,836 shares of the company’s stock worth $173,422,000 after buying an additional 22,038,961 shares during the period. Finally, Citigroup Inc. boosted its holdings in Grab by 112.6% in the 3rd quarter. Citigroup Inc. now owns 32,398,782 shares of the company’s stock worth $195,041,000 after buying an additional 17,160,661 shares during the period. Institutional investors own 55.52% of the company’s stock.

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.