Insider Selling: Grab (NASDAQ:GRAB) Insider Sells 38,000 Shares

Key Points

• Grab insider Chin Yin Ong sold 38,000 shares on July 2 at an average price of $3.88, totaling $147,440. The sale reduced the insider’s stake by about 1.01% and was made under a pre-arranged Rule 10b5-1 trading plan.
• The insider has been actively selling shares recently, including additional sales on June 3, May 26, and May 4. Those trades ranged from 38,000 to 48,000 shares at prices between $3.43 and $3.59.
• Grab’s stock was trading near $3.90 at the time of the report, with analysts maintaining a Moderate Buy consensus and a target price of $6.23. The company recently missed EPS estimates but beat revenue expectations in its latest quarterly results.

Grab Holdings Limited (NASDAQ:GRAB - Get Free Report) insider Chin Yin Ong sold 38,000 shares of the company's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $3.88, for a total value of $147,440.00. Following the sale, the insider owned 3,708,611 shares of the company's stock, valued at $14,389,410.68. This trade represents a 1.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, June 3rd, Chin Yin Ong sold 38,000 shares of Grab stock. The stock was sold at an average price of $3.43, for a total value of $130,340.00.
• On Tuesday, May 26th, Chin Yin Ong sold 48,000 shares of Grab stock. The shares were sold at an average price of $3.55, for a total transaction of $170,400.00.
• On Monday, May 4th, Chin Yin Ong sold 38,000 shares of Grab stock. The shares were sold at an average price of $3.59, for a total transaction of $136,420.00.

Grab Stock Performance

Grab stock traded up $0.01 during trading hours on Thursday, reaching $3.90. 31,335,401 shares of the stock were exchanged, compared to its average volume of 53,278,688. The stock has a market cap of $15.98 billion, a P/E ratio of 390.39, a P/E/G ratio of 1.77 and a beta of 0.87. 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 Holdings Limited has a 52-week low of $3.18 and a 52-week high of $6.62. The firm's 50 day moving average is $3.60 and its 200 day moving average is $4.05.

Grab (NASDAQ:GRAB - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). Grab had a net margin of 10.67% and a return on equity of 5.79%. The firm had revenue of $955.00 million during the quarter, compared to analysts' expectations of $921.71 million. Analysts predict that Grab Holdings Limited will post 0.08 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on GRAB. 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 restated an "overweight" rating and issued a $6.25 price target on shares of Grab in a research note on Tuesday. China Renaissance raised Grab from a "hold" rating to a "buy" rating and set a $5.00 price objective on the stock in a report on Wednesday, May 6th. Mizuho cut their price objective on Grab from $7.00 to $6.00 and set an "outperform" rating for the company in a research report on Tuesday, May 5th. Finally, Weiss Ratings raised Grab from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $6.23.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Invesco Ltd. grew its stake in Grab by 24.9% in the 3rd 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 last quarter. Marshall Wace LLP raised its position in Grab by 49.2% during the fourth quarter. Marshall Wace LLP now owns 72,453,397 shares of the company's stock worth $361,542,000 after acquiring an additional 23,891,108 shares during the last quarter. JPMorgan Chase & Co. raised its position in Grab by 1.6% during the fourth quarter. JPMorgan Chase & Co. now owns 56,669,014 shares of the company's stock worth $282,778,000 after acquiring an additional 878,966 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of 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 purchasing an additional 20,152,535 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Grab by 5.7% in the fourth quarter. State Street Corp now owns 45,938,139 shares of the company's stock valued at $229,231,000 after purchasing an additional 2,466,572 shares in the last quarter. Institutional investors and hedge funds 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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