Insider Selling: Grab (NASDAQ:GRAB) CEO Sells $2,808,000.00 in Stock

Key Points

• Grab CEO Ping Tan sold 800,000 shares for $2.808 million at an average price of $3.51, under a pre-arranged Rule 10b5-1 plan. He retained 10,778,498 shares after the sale.
• Grab shares fell 2.6% to $3.35 in Tuesday trading. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $5.67.

Grab Holdings Limited (NASDAQ:GRAB - Get Free Report) CEO Ping Tan sold 800,000 shares of the company's stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $3.51, for a total value of $2,808,000.00. Following the transaction, the chief executive officer directly owned 10,778,498 shares of the company's stock, valued at $37,832,527.98. The trade was a 6.91% decrease in their position. The transaction was disclosed in a legal filing 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, September 21st, Ping Tan acquired 10,350,000 shares of Grab stock. The stock was acquired at an average price of $2.89 per share, with a total value of $29,911,500.00.

Grab Trading Down 2.6%

Shares of GRAB stock traded down $0.09 during trading hours on Tuesday, reaching $3.35. The company's stock had a trading volume of 82,320,323 shares, compared to its average volume of 70,443,016. The stock has a market capitalization of $13.73 billion, a P/E ratio of 67.01, a P/E/G ratio of 0.71 and a beta of 0.83. Grab Holdings Limited has a one year low of $2.67 and a one year high of $6.24. The firm's fifty day simple moving average is $3.06 and its 200 day simple moving average is $3.60. The company has a current ratio of 1.38, a quick ratio of 1.37 and a debt-to-equity ratio of 0.06.

Institutional Investors Weigh In On Grab

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GRAB. Fermata Advisors LLC purchased a new position in Grab during the third quarter valued at $31,000. MLP3 LLC purchased a new stake in shares of Grab in the 3rd quarter worth about $31,000. Strategic Global Advisors LLC bought a new position in shares of Grab in the 2nd quarter worth about $41,000. NewEdge Wealth LLC bought a new position in shares of Grab in the 1st quarter worth about $42,000. Finally, 71 West Capital Partners bought a new position in shares of Grab in the 2nd quarter worth about $43,000. 55.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on GRAB shares. Benchmark reissued a "buy" rating on shares of Grab in a research report on Tuesday, August 4th. Zacks Research cut shares of Grab from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 4th. JPMorgan Chase & Co. lifted their target price on shares of Grab from $4.80 to $5.10 and gave the company an "overweight" rating in a research note on Tuesday, November 3rd. Barclays reduced their price target on shares of Grab from $5.00 to $4.00 and set an "overweight" rating on the stock in a research report on Monday, October 19th. Finally, KeyCorp set a $7.00 price target on shares of Grab in a research note on Wednesday, September 16th. One equities research 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 stock. According to MarketBeat, Grab currently has an average rating of "Moderate Buy" and an average price target of $5.67.

About Grab

Grab Holdings Limited operates a digital platform that connects consumers, driver- and merchant-partners across Southeast Asia. Its services include ride-hailing and other mobility options, food and grocery delivery, and parcel delivery, offered through the Grab app. The company also provides digital financial services, including payments and lending, and works with partners on products such as insurance and digital banking. Its offerings and availability vary by market. Grab began in Malaysia in 2012 as MyTeksi, a taxi-booking service founded by Anthony Tan and Tan Hooi Ling, and later expanded across the region.

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