Key Points
- Grab CEO Anthony Ping Yeow Tan sold 800,000 shares for about $2.81 million at an average price of $3.51, under a pre-arranged Rule 10b5-1 plan. He retained 10.78 million shares, and the sale reduced his position by 6.91%.
- Grab shares opened at $3.35 and were reported down 2.6%; the stock’s 12-month range is $2.67–$6.24.
- Analyst sentiment is moderately positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $5.67, based on one Strong Buy, eight Buy, and two Hold ratings.
Grab Holdings Limited (NASDAQ:GRAB - Get Free Report) CEO Ping Tan sold 800,000 shares of the stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $3.51, for a total transaction of $2,808,000.00. Following the transaction, the chief executive officer directly owned 10,778,498 shares of the company's stock, valued at $37,832,527.98. This trade represents a 6.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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, September 21st, Ping Tan acquired 10,350,000 shares of Grab stock. The shares were purchased at an average price of $2.89 per share, with a total value of $29,911,500.00.
Grab Trading Down 2.6%
Shares of Grab stock opened at $3.35 on Wednesday. Grab Holdings Limited has a twelve month low of $2.67 and a twelve month high of $6.24. The company has a quick ratio of 1.37, a current ratio of 1.38 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average price of $3.06 and a 200-day moving average price of $3.60. The firm has a market cap of $13.73 billion, a price-to-earnings ratio of 67.01, a PEG ratio of 0.71 and a beta of 0.83.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on GRAB shares. Benchmark restated a "buy" rating on shares of Grab in a report on Tuesday, August 4th. Zacks Research cut Grab from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 4th. Barclays decreased their price objective on Grab from $5.00 to $4.00 and set an "overweight" rating on the stock in a report on Monday, October 19th. Weiss Ratings upgraded Grab from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, November 3rd. Finally, KeyCorp set a $7.00 target price on shares of Grab in a report on Wednesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $5.67.
Check Out Our Latest Report on GRAB
Institutional Trading of Grab
Large investors have recently made changes to their positions in the business. BlackRock Inc. raised its position in shares of Grab by 6.4% during the 2nd quarter. BlackRock Inc. now owns 156,175,807 shares of the company's stock valued at $588,783,000 after buying an additional 9,357,389 shares in the last quarter. Coronation Fund Managers Ltd. lifted its holdings in shares of Grab by 74.5% in the 1st quarter. Coronation Fund Managers Ltd. now owns 32,601,355 shares of the company's stock valued at $119,321,000 after acquiring an additional 13,919,053 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Grab by 13.4% in the 2nd quarter. Principal Financial Group Inc. now owns 24,289,581 shares of the company's stock valued at $91,572,000 after acquiring an additional 2,867,458 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Grab by 80.2% in the 1st quarter. Bank of America Corp DE now owns 23,993,894 shares of the company's stock valued at $87,818,000 after acquiring an additional 10,681,810 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in Grab by 20.6% in the third quarter. Russell Investments Group Ltd. now owns 21,206,808 shares of the company's stock worth $65,956,000 after acquiring an additional 3,623,480 shares in the last quarter. 55.52% of the stock is currently owned by institutional investors.
About Grab
(
Get Free Report)
Grab Holdings Limited operates a digital platform that connects consumers, driver- and merchant-partners across Southeast Asia. Its services include ride-hailing and other mobility options, food and grocery delivery, and parcel delivery, offered through the Grab app. The company also provides digital financial services, including payments and lending, and works with partners on products such as insurance and digital banking. Its offerings and availability vary by market. Grab began in Malaysia in 2012 as MyTeksi, a taxi-booking service founded by Anthony Tan and Tan Hooi Ling, and later expanded across the region.
Recommended Stories
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].
