Grab (NASDAQ:GRAB) Reaches New 12-Month Low – What’s Next?

Grab Holdings Limited (NASDAQ:GRAB) shares reached a new 52-week low on Thursday . The stock traded as low as $3.39 and last traded at $3.51, with a volume of 40194519 shares changing hands. The stock had previously closed at $3.50.

Wall Street Analysts Forecast Growth

GRAB has been the subject of several research reports. China Renaissance upgraded shares of Grab from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a research report on Wednesday, May 6th. Mizuho reduced their price target on shares of Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a research report on Tuesday, May 5th. Benchmark restated a “buy” rating on shares of Grab in a research report on Thursday, February 12th. Sanford C. Bernstein restated an “outperform” rating and set a $5.80 price target on shares of Grab in a research report on Monday, January 26th. Finally, Morgan Stanley set a $5.90 price target on shares of Grab in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6.19.

Grab Price Performance

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 stock has a market cap of $14.38 billion, a P/E ratio of 351.35, a price-to-earnings-growth ratio of 1.62 and a beta of 0.93. The business’s 50-day simple moving average is $3.73 and its two-hundred day simple moving average is $4.44.

Grab (NASDAQ:GRAB) last issued 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 business had revenue of $955.00 million for the quarter, compared to the consensus estimate of $921.71 million. Grab had a return on equity of 5.79% and a net margin of 10.67%. Sell-side analysts expect that Grab Holdings Limited will post 0.08 EPS for the current year.

Insider Activity

In other Grab news, CFO Peter Henry Oey sold 50,000 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $3.92, for a total transaction of $196,000.00. Following the completion of the transaction, the chief financial officer owned 7,050,165 shares in the company, valued at $27,636,646.80. This trade represents a 0.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony Ping Yeow Tan sold 400,000 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $3.67, for a total transaction of $1,468,000.00. Following the transaction, the chief executive officer owned 25,193 shares of the company’s stock, valued at $92,458.31. This represents a 94.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 1,070,819 shares of company stock valued at $3,944,277. 3.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Grab

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GRAB. Norges Bank bought a new position in Grab during the fourth quarter worth about $161,484,000. PointState Capital LP lifted its holdings in shares of Grab by 411.1% in the fourth quarter. PointState Capital LP now owns 32,555,483 shares of the company’s stock worth $162,452,000 after buying an additional 26,186,329 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Grab by 49.2% in the fourth quarter. Marshall Wace LLP now owns 72,453,397 shares of the company’s stock worth $361,542,000 after buying an additional 23,891,108 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Grab by 173.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 34,753,836 shares of the company’s stock worth $173,422,000 after buying an additional 22,038,961 shares in the last quarter. Finally, Citigroup Inc. lifted its holdings in shares of Grab by 112.6% in the third quarter. Citigroup Inc. now owns 32,398,782 shares of the company’s stock worth $195,041,000 after buying an additional 17,160,661 shares in the last quarter. Institutional investors own 55.52% of the company’s stock.

Grab Company Profile

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.