Anthony Ping Yeow Tan Sells 400,000 Shares of Grab (NASDAQ:GRAB) Stock

Grab Holdings Limited (NASDAQ:GRAB) CEO Anthony Ping Yeow Tan sold 400,000 shares of Grab stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $3.62, for a total value of $1,448,000.00. Following the sale, the chief executive officer directly owned 428,498 shares in the company, valued at approximately $1,551,162.76. The trade was a 48.28% decrease in their ownership of the stock. The transaction was disclosed in a 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 Friday, July 10th, Anthony Ping Yeow Tan sold 400,000 shares of Grab stock. The stock was sold at an average price of $3.91, for a total value of $1,564,000.00.
• On Monday, June 15th, Anthony Ping Yeow Tan sold 400,000 shares of Grab stock. The shares were sold at an average price of $3.51, for a total value of $1,404,000.00.

Grab Trading Up 2.5%

NASDAQ GRAB opened at $3.70 on Friday. The firm has a market capitalization of $15.16 billion, a PE ratio of 61.68, a P/E/G ratio of 0.95 and a beta of 0.89. The stock’s 50 day moving average is $3.59 and its 200 day moving average is $3.79. Grab Holdings Limited has a twelve month low of $3.18 and a twelve month high of $6.62. The company has a quick ratio of 1.51, a current ratio of 1.52 and a debt-to-equity ratio of 0.06.

Grab (NASDAQ:GRAB) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $997.00 million during the quarter, compared to the consensus estimate of $994.97 million. Grab had a return on equity of 8.83% and a net margin of 15.97%. Research analysts forecast that Grab Holdings Limited will post 0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Grab

A number of hedge funds have recently bought and sold shares of the company. Pitcairn Co. increased its stake in Grab by 11.0% during the 2nd quarter. Pitcairn Co. now owns 20,964 shares of the company’s stock valued at $105,000 after purchasing an additional 2,080 shares in the last quarter. Adalta Capital Management LLC raised its holdings in Grab by 2.2% in the third quarter. Adalta Capital Management LLC now owns 100,880 shares of the company’s stock worth $607,000 after buying an additional 2,200 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Grab by 7.7% in the second quarter. Thrivent Financial for Lutherans now owns 32,099 shares of the company’s stock worth $161,000 after buying an additional 2,300 shares in the last quarter. Soros Fund Management LLC lifted its stake in shares of Grab by 19.7% in the second quarter. Soros Fund Management LLC now owns 14,677 shares of the company’s stock worth $74,000 after buying an additional 2,419 shares in the last quarter. Finally, Corient Private Wealth LLC grew its holdings in shares of Grab by 1.9% during the fourth quarter. Corient Private Wealth LLC now owns 129,144 shares of the company’s stock valued at $643,000 after buying an additional 2,469 shares during the last quarter. Institutional investors own 55.52% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $6.25 price target on shares of Grab in a research note on Tuesday, June 30th. Benchmark reissued a “buy” rating on shares of Grab in a research note on Tuesday, August 4th. China Renaissance upgraded shares of Grab from a “hold” rating to a “buy” rating and set a $5.00 price objective on the stock in a report on Wednesday, May 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Grab in a research note on Monday, August 3rd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a research note on Tuesday, May 5th. 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 company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $6.01.

Grab Company Profile

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.