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

Grab Holdings Limited (NASDAQ:GRAB – Get Free Report) insider Chin Ong sold 38,000 shares of Grab stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $3.21, for a total transaction of $121,980.00. Following the sale, the insider owned 3,556,611 shares of the company’s stock, valued at $11,416,721.31. The trade was a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

  • On Monday, October 5th, Chin Ong sold 38,000 shares of Grab stock. The shares were sold at an average price of $3.09, for a total value of $117,420.00.
  • On Thursday, September 3rd, Chin Ong sold 38,000 shares of Grab stock. The shares were sold at an average price of $3.43, for a total value of $130,340.00.

Grab Stock Performance

Shares of GRAB stock opened at $3.48 on Friday. The firm has a market capitalization of $14.26 billion, a price-to-earnings ratio of 69.61, a price-to-earnings-growth ratio of 0.71 and a beta of 0.83. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.38 and a quick ratio of 1.51. The business has a fifty day moving average of $3.07 and a 200 day moving average of $3.61. Grab Holdings Limited has a 1 year low of $2.67 and a 1 year high of $6.24.

Grab (NASDAQ:GRAB – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The company had revenue of $997.00 million during the quarter, compared to analysts’ expectations of $994.97 million. Grab had a return on equity of 8.45% and a net margin of 14.76%. As a group, research analysts expect that Grab Holdings Limited will post 0.13 earnings per share for the current year.

Hedge Funds Weigh In On Grab

A number of institutional investors have recently modified their holdings of GRAB. BlackRock Inc. increased its holdings in Grab by 6.4% in the 2nd quarter. BlackRock Inc. now owns 156,175,807 shares of the company’s stock worth $588,783,000 after acquiring an additional 9,357,389 shares in the last quarter. Coronation Fund Managers Ltd. raised its position in Grab by 74.5% during the first quarter. Coronation Fund Managers Ltd. now owns 32,601,355 shares of the company’s stock worth $119,321,000 after acquiring an additional 13,919,053 shares during the period. Principal Financial Group Inc. lifted its holdings in Grab by 13.4% during the second quarter. Principal Financial Group Inc. now owns 24,289,581 shares of the company’s stock valued at $91,572,000 after purchasing an additional 2,867,458 shares in the last quarter. Bank of America Corp DE lifted its holdings in Grab by 80.2% during the first quarter. Bank of America Corp DE now owns 23,993,894 shares of the company’s stock valued at $87,818,000 after purchasing an additional 10,681,810 shares in the last quarter. Finally, Hsbc Holdings PLC grew its position in shares of Grab by 20.9% in the second quarter. Hsbc Holdings PLC now owns 17,877,290 shares of the company’s stock valued at $67,475,000 after purchasing an additional 3,090,656 shares during the period. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Wall Street Analysts Forecast Growth

GRAB has been the subject of a number of research reports. Zacks Research raised Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. JPMorgan Chase & Co. raised their price target on shares of Grab from $4.80 to $5.10 and gave the stock an “overweight” rating in a research report on Tuesday. Bank of America restated a “buy” rating on shares of Grab in a research note on Friday, September 25th. KeyCorp set a $7.00 price objective on shares of Grab in a report on Wednesday, September 16th. Finally, Weiss Ratings raised shares of Grab from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Grab presently has a consensus rating of “Buy” and a consensus price target of $5.67.

Check Out Our Latest Stock Report on GRAB

Key Stories Impacting Grab

Here are the key news stories impacting Grab this week:

Grab Company Profile

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for Grab (NASDAQ:GRAB)

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