Grab (NASDAQ:GRAB) Insider Sells $90,000.00 in Stock

Grab Holdings Limited (NASDAQ:GRAB) insider Philipp Wolfgang Josef Kandal sold 30,000 shares of the stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $3.00, for a total transaction of $90,000.00. Following the sale, the insider directly owned 3,928,735 shares in the company, valued at $11,786,205. This trade represents a 0.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Philipp Wolfgang Josef Kandal also recently made the following trade(s):

• On Tuesday, September 15th, Philipp Wolfgang Josef Kandal sold 30,000 shares of Grab stock. The shares were sold at an average price of $3.08, for a total transaction of $92,400.00.
• On Friday, August 14th, Philipp Wolfgang Josef Kandal sold 30,000 shares of Grab stock. The stock was sold at an average price of $3.64, for a total transaction of $109,200.00.

Grab Stock Down 2.4%

Shares of NASDAQ GRAB traded down $0.07 during midday trading on Monday, hitting $2.87. The stock had a trading volume of 39,232,547 shares, compared to its average volume of 77,569,304. The business’s 50 day moving average is $3.25 and its 200-day moving average is $3.50. The company has a market cap of $11.76 billion, a P/E ratio of 47.84, a PEG ratio of 0.52 and a beta of 0.91. Grab Holdings Limited has a 52 week low of $2.74 and a 52 week high of $6.24. The company has a quick ratio of 1.51, a current ratio of 1.52 and a debt-to-equity ratio of 0.06.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The firm had revenue of $997.00 million for the quarter, compared to analysts’ expectations of $994.97 million. Grab had a net margin of 15.97% and a return on equity of 8.83%. As a group, analysts predict that Grab Holdings Limited will post 0.14 EPS for the current year.

Analyst Upgrades and Downgrades

GRAB has been the topic of several recent analyst reports. Zacks Research upgraded Grab from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Benchmark reissued a “buy” rating on shares of Grab in a report on Tuesday, August 4th. Morgan Stanley restated an “overweight” rating and issued a $6.25 price target on shares of Grab in a research note on Tuesday, June 30th. Barclays set a $4.00 price target on Grab in a research note on Monday. Finally, KeyCorp set a $7.00 price target on Grab in a report on Wednesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $6.01.

Institutional Trading of Grab

Institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its holdings in Grab by 13.4% in the second quarter. Principal Financial Group Inc. now owns 24,289,581 shares of the company’s stock worth $91,572,000 after purchasing an additional 2,867,458 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in Grab in the 2nd quarter worth approximately $10,119,000. Mitsubishi UFJ Trust & Banking Corp grew its position in Grab by 17.0% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,041,490 shares of the company’s stock worth $7,696,000 after purchasing an additional 296,256 shares during the period. Hsbc Holdings PLC raised its stake in Grab by 20.9% during the 2nd quarter. Hsbc Holdings PLC now owns 17,877,290 shares of the company’s stock valued at $67,475,000 after buying an additional 3,090,656 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Grab by 16.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 17,687,253 shares of the company’s stock valued at $68,200,000 after buying an additional 2,486,750 shares during the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Grab Company Profile

Grab Holdings Inc (NASDAQ:GRAB) is a technology company that operates a superapp serving consumers, drivers, merchants and businesses across Southeast Asia. The company began as a ride-hailing service in Malaysia in 2012 and is headquartered in Singapore.

Grab’s platform provides mobility services, including ride-hailing, taxi bookings and other transportation options. It also offers food, grocery and package deliveries, connecting users with restaurants, retailers and delivery partners through its digital marketplace.

In addition, Grab provides digital financial services in selected markets, including payments, consumer and merchant lending, digital banking and insurance-related products.