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

Grab Holdings Limited (NASDAQ:GRAB) insider Chin Yin Ong sold 38,000 shares of Grab stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $3.61, for a total value of $137,180.00. Following the completion of the transaction, the insider owned 3,670,611 shares of the company’s stock, valued at approximately $13,250,905.71. This trade represents a 1.02% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 Thursday, July 2nd, Chin Yin Ong sold 38,000 shares of Grab stock. The shares were sold at an average price of $3.88, for a total value of $147,440.00.
• 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 stock was sold at an average price of $3.55, for a total value of $170,400.00.

Grab Stock Down 1.9%

NASDAQ GRAB opened at $3.67 on Friday. Grab Holdings Limited has a 52 week low of $3.18 and a 52 week high of $6.62. The firm has a market capitalization of $15.04 billion, a price-to-earnings ratio of 61.18, a PEG ratio of 1.04 and a beta of 0.89. The company has a quick ratio of 1.65, a current ratio of 1.52 and a debt-to-equity ratio of 0.06. The company has a fifty day moving average of $3.58 and a two-hundred day moving average of $3.82.

Grab (NASDAQ:GRAB) last released its earnings results on Tuesday, August 4th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. Grab had a net margin of 15.97% and a return on equity of 8.83%. The firm had revenue of $997.00 million during the quarter, compared to analyst estimates of $994.97 million. On average, analysts predict that Grab Holdings Limited will post 0.12 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Grab in a research report on Monday. JPMorgan Chase & Co. reduced their price target on Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a report on Tuesday, May 5th. Zacks Research raised Grab from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Benchmark restated a “buy” rating on shares of Grab in a report on Tuesday. Finally, China Renaissance raised Grab from a “hold” rating to a “buy” rating and set a $5.00 price objective on the stock in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $6.01.

Institutional Investors Weigh In On Grab

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Grab during the 4th quarter valued at $161,484,000. PointState Capital LP grew its position in shares of Grab by 411.1% during the 4th quarter. PointState Capital LP now owns 32,555,483 shares of the company’s stock worth $162,452,000 after buying an additional 26,186,329 shares in the last quarter. Marshall Wace LLP grew its position in shares of Grab by 49.2% during the 4th quarter. Marshall Wace LLP now owns 72,453,397 shares of the company’s stock worth $361,542,000 after buying an additional 23,891,108 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Grab by 58.0% during 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 buying an additional 20,152,535 shares during the period. Finally, Invesco Ltd. increased 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 buying an additional 15,916,063 shares during the period. Institutional investors own 55.52% of the company’s stock.

About Grab

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.