Insider Buying: Grab (NASDAQ:GRAB) CEO Purchases 10,350,000 Shares

Grab Holdings Limited (NASDAQ:GRAB) CEO Ping Tan bought 10,350,000 shares of the stock in a transaction on Monday, September 21st. The shares were purchased at an average price of $2.89 per share, with a total value of $29,911,500.00. Following the acquisition, the chief executive officer owned 10,778,498 shares in the company, valued at approximately $31,149,859.22. This represents a 2,415.41% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Anthony Ping Yeow Tan also recently made the following trade(s):

• On Monday, August 10th, Ping Tan sold 400,000 shares of Grab stock. The stock was sold at an average price of $3.62, for a total value of $1,448,000.00.
• On Friday, July 10th, Ping Tan sold 400,000 shares of Grab stock. The stock was sold at an average price of $3.91, for a total value of $1,564,000.00.

Grab Stock Up 3.9%

NASDAQ GRAB traded up $0.11 during trading on Monday, hitting $2.91. The stock had a trading volume of 69,892,886 shares, compared to its average volume of 52,077,128. The company has a market capitalization of $11.92 billion, a PE ratio of 48.51, a P/E/G ratio of 0.73 and a beta of 0.89. The company’s 50-day moving average price is $3.44 and its two-hundred day moving average price is $3.60. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.51 and a current ratio of 1.52. Grab Holdings Limited has a 12 month low of $2.74 and a 12 month high of $6.62.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.06 earnings per share 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 company had revenue of $997.00 million during the quarter, compared to analysts’ expectations of $994.97 million. As a group, sell-side analysts forecast that Grab Holdings Limited will post 0.13 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GRAB shares. Barclays reduced their price objective on shares of Grab from $7.00 to $5.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. Morgan Stanley reiterated an “overweight” rating and set a $6.25 target price on shares of Grab in a report on Tuesday, June 30th. Weiss Ratings cut Grab from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, August 17th. Zacks Research upgraded Grab from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Finally, Benchmark reaffirmed a “buy” rating on shares of Grab in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6.11.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GRAB. BlackRock Inc. raised its holdings in shares of Grab by 6.4% in the 2nd quarter. BlackRock Inc. now owns 156,175,807 shares of the company’s stock valued at $588,783,000 after purchasing an additional 9,357,389 shares during the period. Assenagon Asset Management S.A. lifted its stake in Grab by 58.0% in the 1st 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 during the last quarter. WFM ASIA BVI Ltd grew its holdings in Grab by 12.5% during the fourth quarter. WFM ASIA BVI Ltd now owns 37,675,992 shares of the company’s stock worth $188,003,000 after purchasing an additional 4,194,477 shares during the period. Norges Bank bought a new position in Grab during the fourth quarter worth about $161,484,000. Finally, Artisan Partners Limited Partnership increased its position in Grab by 5.0% during the fourth quarter. Artisan Partners Limited Partnership now owns 27,977,786 shares of the company’s stock worth $139,609,000 after buying an additional 1,340,082 shares during the last quarter. 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. Its platform connects users with transportation, food and grocery delivery, parcel and on-demand logistics, digital payments and other financial services.

The company began as a ride-hailing service in Malaysia in 2012, founded by Anthony Tan and Tan Hooi Ling, and expanded into a broader digital platform. Grab’s consumer offerings include private-hire and taxi services, GrabFood, GrabMart and GrabExpress, while its financial-services products include digital payments, lending, insurance and digital banking services offered in selected markets.

Grab serves markets across Southeast Asia, including Singapore, Malaysia, Indonesia, Thailand, Vietnam, the Philippines and Cambodia.