Key Points
- Grab insider Chin Yin Ong sold 38,000 shares at an average price of $3.09, generating $117,420. The transaction was conducted under a pre-arranged Rule 10b5-1 plan and reduced Ong’s stake by 1.05% to 3.59 million shares.
- Grab shares opened at $3.08, with a market capitalization of approximately $12.62 billion and a 52-week range of $2.74 to $6.44. The company recently exceeded quarterly earnings and revenue expectations, reporting $0.06 EPS and $997 million in revenue.
- Analysts maintain a consensus “Buy” rating with an average price target of $6.11, although Weiss Ratings downgraded the stock to “sell.” Institutional investors own approximately 55.52% of Grab’s outstanding shares.
Grab Holdings Limited (NASDAQ:GRAB - Get Free Report) insider Chin Ong sold 38,000 shares of the company's stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $3.09, for a total transaction of $117,420.00. Following the completion of the sale, the insider directly owned 3,594,611 shares of the company's stock, valued at $11,107,347.99. This represents a 1.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through 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, September 3rd, Chin Ong sold 38,000 shares of Grab stock. The stock was sold at an average price of $3.43, for a total transaction of $130,340.00.
- On Monday, August 3rd, Chin Ong sold 38,000 shares of Grab stock. The stock was sold at an average price of $3.61, for a total transaction of $137,180.00.
Grab Stock Performance
NASDAQ:GRAB opened at $3.08 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.52 and a quick ratio of 1.51. The firm has a market capitalization of $12.62 billion, a price-to-earnings ratio of 51.34, a PEG ratio of 0.73 and a beta of 0.91. The company's 50-day moving average is $3.34 and its two-hundred day moving average is $3.54. Grab Holdings Limited has a 1-year low of $2.74 and a 1-year high of $6.44.
Grab (NASDAQ:GRAB - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.01. The business had revenue of $997.00 million during the quarter, compared to the consensus estimate of $994.97 million. Grab had a net margin of 15.97% and a return on equity of 8.83%. Analysts forecast that Grab Holdings Limited will post 0.14 EPS for the current year.
Hedge Funds Weigh In On Grab
A number of hedge funds have recently made changes to their positions in GRAB. Corient Private Wealth LLC boosted its stake in shares of Grab by 2.1% during the fourth quarter. Corient Private Wealth LLC now owns 129,340 shares of the company's stock valued at $644,000 after acquiring an additional 2,665 shares during the last quarter. Resona Asset Management Co. Ltd. raised its stake in Grab by 0.4% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 721,569 shares of the company's stock valued at $2,628,000 after purchasing an additional 2,858 shares during the last quarter. AdvisorNet Financial Inc lifted its holdings in Grab by 3.2% in the 1st quarter. AdvisorNet Financial Inc now owns 100,104 shares of the company's stock valued at $366,000 after purchasing an additional 3,141 shares in the last quarter. KBC Group NV lifted its holdings in Grab by 0.4% in the 1st quarter. KBC Group NV now owns 1,096,393 shares of the company's stock valued at $4,012,000 after purchasing an additional 4,170 shares in the last quarter. Finally, Keybank National Association OH boosted its stake in shares of Grab by 34.7% during the 1st quarter. Keybank National Association OH now owns 16,677 shares of the company's stock worth $61,000 after purchasing an additional 4,295 shares during the last quarter. Hedge funds and other institutional investors own 55.52% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the company. Weiss Ratings cut Grab from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, August 17th. Bank of America reaffirmed a "buy" rating on shares of Grab in a research note on Friday, September 25th. KeyCorp set a $7.00 price target on Grab in a report on Wednesday, September 16th. Morgan Stanley reissued an "overweight" rating and set a $6.25 price objective on shares of Grab in a research report on Tuesday, June 30th. Finally, Benchmark restated a "buy" rating on shares of Grab in a report on Tuesday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $6.11.
Check Out Our Latest Stock Analysis on GRAB
About Grab
(
Get Free Report)
Grab Holdings Limited is a Singapore-based technology company that operates a superapp serving consumers, drivers, merchants and businesses across Southeast Asia. Its platform connects users with everyday services through a single digital application.
The company's main businesses include mobility services such as ride-hailing and taxi bookings, food and grocery delivery, and digital payments. Grab also provides financial services, including digital wallets, lending, insurance and other financial products, subject to local regulations.
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