Key Points
- Grab CEO Anthony Ping Yeow Tan sold 400,000 shares on July 10 at an average price of $3.91, totaling about $1.56 million. After the trade, he directly owned 28,498 shares, a sharp reduction in his stake, and the sale was made under a pre-arranged Rule 10b5-1 plan.
- This was not his first recent sale: Tan also sold 400,000 shares each on June 15 and May 11 at average prices of $3.51 and $3.67, respectively. These repeated transactions suggest an ongoing pattern of insider selling.
- Grab stock was trading around $3.80 and recently fell 3.6%, while analysts currently view the stock as a Moderate Buy with a consensus target price of $6.01. The company’s latest earnings beat revenue estimates but missed earnings per share expectations.
Grab Holdings Limited (NASDAQ:GRAB - Get Free Report) CEO Anthony Ping Yeow Tan sold 400,000 shares of the stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $3.91, for a total value of $1,564,000.00. Following the sale, the chief executive officer directly owned 28,498 shares of the company's stock, valued at approximately $111,427.18. The trade was a 93.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Anthony Ping Yeow Tan also recently made the following trade(s):
- On Monday, June 15th, Anthony Ping Yeow Tan sold 400,000 shares of Grab stock. The shares were sold at an average price of $3.51, for a total transaction of $1,404,000.00.
- On Monday, May 11th, Anthony Ping Yeow Tan sold 400,000 shares of Grab stock. The shares were sold at an average price of $3.67, for a total transaction of $1,468,000.00.
Grab Stock Down 3.6%
Shares of GRAB stock opened at $3.80 on Wednesday. Grab Holdings Limited has a 12-month low of $3.18 and a 12-month high of $6.62. The company has a quick ratio of 1.65, a current ratio of 1.67 and a debt-to-equity ratio of 0.06. The firm has a fifty day moving average of $3.60 and a 200-day moving average of $3.98. The company has a market capitalization of $15.57 billion, a price-to-earnings ratio of 380.38, a P/E/G ratio of 1.51 and a beta of 0.87.
Grab (NASDAQ:GRAB - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.03). The company had revenue of $955.00 million during the quarter, compared to analyst estimates of $921.71 million. Grab had a return on equity of 5.79% and a net margin of 10.67%. As a group, equities research analysts predict that Grab Holdings Limited will post 0.1 earnings per share for the current fiscal year.
Institutional Trading of Grab
A number of large investors have recently added to or reduced their stakes in GRAB. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of Grab during the 4th quarter worth about $25,000. Parallel Advisors LLC raised its holdings in shares of Grab by 305.5% in the 4th quarter. Parallel Advisors LLC now owns 6,107 shares of the company's stock valued at $30,000 after purchasing an additional 4,601 shares during the period. Advisory Services Network LLC acquired a new stake in Grab in the 3rd quarter valued at about $38,000. Signaturefd LLC lifted its stake in Grab by 64.6% in the 4th quarter. Signaturefd LLC now owns 6,479 shares of the company's stock valued at $32,000 after purchasing an additional 2,543 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in Grab by 162,500.0% during the third quarter. Larson Financial Group LLC now owns 6,504 shares of the company's stock worth $39,000 after purchasing an additional 6,500 shares during the period. Institutional investors and hedge funds own 55.52% of the company's stock.
Analyst Ratings Changes
GRAB has been the subject of several research reports. China Renaissance raised shares of Grab from a "hold" rating to a "buy" rating and set a $5.00 price target for the company in a research note on Wednesday, May 6th. Barclays reduced their target price on shares of Grab from $7.00 to $5.00 and set an "overweight" rating for the company in a report on Thursday, July 9th. Weiss Ratings raised shares of Grab from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. lowered their price target on shares of Grab from $5.90 to $5.80 and set an "overweight" rating on the stock in a research note on Tuesday, May 5th. Finally, Mizuho cut their price target on shares of Grab from $7.00 to $6.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Grab presently has a consensus rating of "Moderate Buy" and a consensus target price of $6.01.
Read Our Latest Report on Grab
Grab Company Profile
(
Get Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
