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

Key Points

• Insider Chin Yin Ong sold 38,000 Grab shares at an average price of $3.09, generating $117,420; the sale was made under a pre-arranged Rule 10b5-1 trading plan. Ong still directly owns about 3.59 million shares.
• Grab shares recently traded at $3.08, near the lower end of their 52-week range of $2.74 to $6.44. The company exceeded quarterly earnings and revenue estimates, reporting $0.06 EPS and $997 million in revenue.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $6.11, although ratings range from “Strong Buy” to “Sell.” Institutional investors own approximately 55.52% of the company.

Grab Holdings Limited (NASDAQ:GRAB - Get Free Report) insider Chin Ong sold 38,000 shares of the firm's stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $3.09, for a total transaction of $117,420.00. Following the completion of the transaction, the insider directly owned 3,594,611 shares in the company, valued at approximately $11,107,347.99. The trade was a 1.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Chin Yin Ong also recently made the following trade(s):

• On Thursday, September 3rd, Chin Ong sold 38,000 shares of Grab stock. The stock was sold at an average price of $3.43, for a total transaction of $130,340.00.
• On Monday, August 3rd, Chin Ong sold 38,000 shares of Grab stock. The shares were sold at an average price of $3.61, for a total transaction of $137,180.00.

Grab Trading Up 0.3%

Shares of GRAB stock traded up $0.01 during trading hours on Wednesday, reaching $3.08. The company had a trading volume of 90,184,860 shares, compared to its average volume of 85,002,728. Grab Holdings Limited has a 1-year low of $2.74 and a 1-year high of $6.44. 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 firm has a market cap of $12.62 billion, a price-to-earnings ratio of 51.34, a P/E/G ratio of 0.73 and a beta of 0.91. The company has a 50 day moving average of $3.34 and a 200 day moving average of $3.54.

Grab (NASDAQ:GRAB - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.01. Grab had a return on equity of 8.83% and a net margin of 15.97%.The business had revenue of $997.00 million during the quarter, compared to the consensus estimate of $994.97 million. On average, equities research analysts anticipate that Grab Holdings Limited will post 0.14 EPS for the current year.

Institutional Trading of Grab

Several hedge funds and other institutional investors have recently modified their holdings of the company. Corient Private Wealth LLC raised its position in shares of Grab by 2.1% during the fourth quarter. Corient Private Wealth LLC now owns 129,340 shares of the company's stock worth $644,000 after acquiring an additional 2,665 shares during the last quarter. Resona Asset Management Co. Ltd. increased its position in Grab by 0.4% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 721,569 shares of the company's stock valued at $2,628,000 after purchasing an additional 2,858 shares during the period. AdvisorNet Financial Inc increased its position in Grab by 3.2% during the 1st quarter. AdvisorNet Financial Inc now owns 100,104 shares of the company's stock valued at $366,000 after purchasing an additional 3,141 shares during the period. KBC Group NV raised its holdings in Grab by 0.4% during the 1st quarter. KBC Group NV now owns 1,096,393 shares of the company's stock worth $4,012,000 after purchasing an additional 4,170 shares during the last quarter. Finally, Keybank National Association OH lifted its position in shares of Grab by 34.7% in the 1st quarter. Keybank National Association OH now owns 16,677 shares of the company's stock worth $61,000 after purchasing an additional 4,295 shares during the period. Institutional investors and hedge funds own 55.52% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Bank of America reissued a "buy" rating on shares of Grab in a research note on Friday, September 25th. Morgan Stanley reiterated an "overweight" rating and issued a $6.25 target price on shares of Grab in a report on Tuesday, June 30th. Barclays reduced their price target on shares of Grab from $7.00 to $5.00 and set an "overweight" rating on the stock in a research report on Thursday, July 9th. Benchmark restated a "buy" rating on shares of Grab in a research report on Tuesday, August 4th. Finally, Weiss Ratings downgraded Grab from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $6.11.

About Grab

Grab Holdings Limited is a Singapore-based technology company that operates a superapp serving consumers, drivers, merchants and businesses across Southeast Asia. Its platform connects users with everyday services through a single digital application.

The company's main businesses include mobility services such as ride-hailing and taxi bookings, food and grocery delivery, and digital payments. Grab also provides financial services, including digital wallets, lending, insurance and other financial products, subject to local regulations.

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