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

Grab Holdings Limited (NASDAQ:GRAB) CEO Anthony Ping Yeow Tan sold 400,000 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $3.51, for a total value of $1,404,000.00. Following the transaction, the chief executive officer owned 425,193 shares in the company, valued at $1,492,427.43. The trade was a 48.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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, May 11th, Anthony Ping Yeow Tan sold 400,000 shares of Grab stock. The stock was sold at an average price of $3.67, for a total value of $1,468,000.00.
• On Friday, April 10th, Anthony Ping Yeow Tan sold 400,000 shares of Grab stock. The stock was sold at an average price of $3.68, for a total value of $1,472,000.00.

Grab Trading Up 0.9%

GRAB traded up $0.03 during trading on Tuesday, hitting $3.49. 73,219,129 shares of the stock were exchanged, compared to its average volume of 47,414,232. The firm has a 50 day simple moving average of $3.66 and a 200 day simple moving average of $4.19. The firm has a market cap of $14.30 billion, a price-to-earnings ratio of 349.35, a P/E/G ratio of 1.57 and a beta of 0.89. Grab Holdings Limited has a 1 year low of $3.18 and a 1 year high of $6.62. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 1.67.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). The firm had revenue of $955.00 million for the quarter, compared to analysts’ expectations of $921.71 million. Grab had a return on equity of 5.79% and a net margin of 10.67%. As a group, equities analysts expect that Grab Holdings Limited will post 0.08 EPS for the current year.

Hedge Funds Weigh In On Grab

Several institutional investors and hedge funds have recently modified their holdings of GRAB. Integrated Wealth Concepts LLC increased its stake 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 in the last quarter. Goldman Sachs Group Inc. increased its stake 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 in the last quarter. Empowered Funds LLC increased its stake in shares of Grab by 6.2% in the 1st quarter. Empowered Funds LLC now owns 52,698 shares of the company’s stock valued at $239,000 after purchasing an additional 3,090 shares in the last quarter. Focus Partners Wealth purchased a new position in shares of Grab in the 1st quarter valued at about $63,000. Finally, Cetera Investment Advisers increased its stake in shares of Grab by 11.7% in the 2nd quarter. Cetera Investment Advisers now owns 106,710 shares of the company’s stock valued at $537,000 after purchasing an additional 11,158 shares in the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Wall Street Analyst Weigh In

GRAB has been the topic of several recent research reports. Mizuho dropped their target price on Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. JPMorgan Chase & Co. dropped their target price on Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a research report on Tuesday, May 5th. Morgan Stanley set a $5.90 target price on Grab in a research report on Wednesday, May 6th. Weiss Ratings raised Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Finally, Zacks Research raised Grab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. 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 company’s stock. According to data from MarketBeat, Grab has a consensus rating of “Moderate Buy” and a consensus price target of $6.19.

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.