Grab (NASDAQ:GRAB) CEO Sells $1,448,000.00 in Stock

Key Points

• Grab CEO Anthony Tan sold 400,000 shares at an average price of $3.62, generating $1.448 million; the transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced his direct ownership by 48.28%.
• Grab recently exceeded quarterly expectations, reporting $0.06 in adjusted earnings per share versus a $0.05 estimate and revenue of $997 million, slightly above forecasts.
• Shares traded around $3.61, while analysts maintained a generally positive outlook with a “Moderate Buy” consensus and an average price target of $6.01; institutional investors own 55.52% of the stock.

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

Grab Price Performance

Shares of NASDAQ:GRAB traded down $0.13 during midday trading on Wednesday, reaching $3.61. 36,211,930 shares of the company's stock were exchanged, compared to its average volume of 50,443,965. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.51 and a current ratio of 1.52. The company's 50 day simple moving average is $3.58 and its two-hundred day simple moving average is $3.80. Grab Holdings Limited has a 12 month low of $3.18 and a 12 month high of $6.62. The firm has a market capitalization of $14.79 billion, a PE ratio of 60.18, a price-to-earnings-growth ratio of 0.96 and a beta of 0.89.

Grab (NASDAQ:GRAB - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.01. Grab had a net margin of 15.97% and a return on equity of 8.83%. The business had revenue of $997.00 million for the quarter, compared to analysts' expectations of $994.97 million. Equities research analysts expect that Grab Holdings Limited will post 0.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GRAB. JPMorgan Chase & Co. cut their price target on shares of Grab from $5.90 to $5.80 and set an "overweight" rating for the company in a report on Tuesday, May 5th. Benchmark reaffirmed a "buy" rating on shares of Grab in a research note on Tuesday, August 4th. Zacks Research raised shares of Grab from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 2nd. Weiss Ratings reiterated a "hold (c-)" rating on shares of Grab in a research note on Monday, August 3rd. Finally, Mizuho reduced their target price on Grab from $7.00 to $6.00 and set an "outperform" rating on the stock in a report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Grab currently has an average rating of "Moderate Buy" and an average target price of $6.01.

Institutional Investors Weigh In On Grab

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in shares of Grab by 6.4% in the second quarter. BlackRock Inc. now owns 156,175,807 shares of the company's stock valued at $588,783,000 after purchasing an additional 9,357,389 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Grab by 24.9% during the third quarter. Invesco Ltd. now owns 79,797,848 shares of the company's stock valued at $480,383,000 after acquiring an additional 15,916,063 shares during the period. Marshall Wace LLP lifted its stake in shares of Grab by 49.2% during the fourth quarter. Marshall Wace LLP now owns 72,453,397 shares of the company's stock valued at $361,542,000 after acquiring an additional 23,891,108 shares during the period. JPMorgan Chase & Co. boosted its holdings in Grab by 1.6% in the fourth quarter. JPMorgan Chase & Co. now owns 56,669,014 shares of the company's stock valued at $282,778,000 after acquiring an additional 878,966 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Grab by 58.0% in the first quarter. Assenagon Asset Management S.A. now owns 54,906,371 shares of the company's stock valued at $200,957,000 after acquiring an additional 20,152,535 shares during the last quarter. Institutional investors own 55.52% of the company's stock.

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.

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