Grab (NASDAQ:GRAB) CEO Buys 10,350,000 Shares of Stock

Key Points

• CEO Ping Tan purchased 10.35 million Grab shares at an average price of $2.89, investing nearly $30 million and increasing his position by 2,415.41% to 10.78 million shares.
• Grab shares traded at $2.91, near their 52-week low of $2.74 and below both the 50-day and 200-day moving averages. The company recently beat quarterly earnings and revenue estimates.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $6.11, compared with the current share price.

Grab Holdings Limited (NASDAQ:GRAB - Get Free Report) CEO Ping Tan bought 10,350,000 shares of the company's stock in a transaction dated Monday, September 21st. The stock was bought at an average cost of $2.89 per share, with a total value of $29,911,500.00. Following the completion of the acquisition, the chief executive officer owned 10,778,498 shares in the company, valued at $31,149,859.22. This represents a 2,415.41% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Anthony Ping Yeow Tan also recently made the following trade(s):

• On Monday, August 10th, Ping Tan sold 400,000 shares of Grab stock. The stock was sold at an average price of $3.62, for a total transaction of $1,448,000.00.
• On Friday, July 10th, Ping 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.

Grab Price Performance

Shares of GRAB traded up $0.11 on Monday, hitting $2.91. The company's stock had a trading volume of 69,892,886 shares, compared to its average volume of 52,077,128. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.52 and a quick ratio of 1.51. The company has a market capitalization of $11.92 billion, a PE ratio of 48.51, a PEG ratio of 0.73 and a beta of 0.89. The company has a 50 day moving average price of $3.44 and a 200 day moving average price of $3.60. Grab Holdings Limited has a fifty-two week low of $2.74 and a fifty-two week high of $6.62.

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

Wall Street Analyst Weigh In

GRAB has been the subject of several research analyst reports. Barclays dropped their price objective on shares of Grab from $7.00 to $5.00 and set an "overweight" rating for the company in a research report on Thursday, July 9th. Morgan Stanley restated an "overweight" rating and set a $6.25 target price on shares of Grab in a research report on Tuesday, June 30th. KeyCorp set a $7.00 price target on Grab in a research note on Wednesday, September 16th. Benchmark reiterated a "buy" rating on shares of Grab in a research report on Tuesday, August 4th. Finally, Zacks Research raised Grab from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $6.11.

Institutional Trading of Grab

Large investors have recently made changes to their positions in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of Grab in the fourth quarter worth about $25,000. Montag A & Associates Inc. bought a new position in shares of Grab during the 1st quarter valued at about $27,000. Larson Financial Group LLC grew its position in shares of Grab by 53.8% in the 4th quarter. Larson Financial Group LLC now owns 10,004 shares of the company's stock valued at $50,000 after purchasing an additional 3,500 shares during the period. Strategic Global Advisors LLC bought a new stake in Grab during the 2nd quarter worth approximately $41,000. Finally, Smith Chas P & Associates PA Cpas bought a new stake in Grab during the 4th quarter worth approximately $55,000. Institutional investors own 55.52% of the company's stock.

About Grab

Grab Holdings Inc NASDAQ: GRAB is a technology company that operates a superapp serving consumers, drivers, merchants and businesses across Southeast Asia. Its platform connects users with transportation, food and grocery delivery, parcel and on-demand logistics, digital payments and other financial services.

The company began as a ride-hailing service in Malaysia in 2012, founded by Anthony Tan and Tan Hooi Ling, and expanded into a broader digital platform. Grab's consumer offerings include private-hire and taxi services, GrabFood, GrabMart and GrabExpress, while its financial-services products include digital payments, lending, insurance and digital banking services offered in selected markets.

Grab serves markets across Southeast Asia, including Singapore, Malaysia, Indonesia, Thailand, Vietnam, the Philippines and Cambodia.

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