Grab (NASDAQ:GRAB) Sets New 12-Month Low After Insider Selling

Grab Holdings Limited (NASDAQ:GRAB)’s stock price reached a new 52-week low during mid-day trading on Friday following insider selling activity. The stock traded as low as $3.36 and last traded at $3.3750, with a volume of 12181979 shares changing hands. The stock had previously closed at $3.46.

Specifically, insider Chin Yin Ong sold 38,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $3.43, for a total value of $130,340.00. Following the transaction, the insider owned 3,743,306 shares of the company’s stock, valued at approximately $12,839,539.58. This trade represents a 1.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Ratings Changes

Several research firms have commented on GRAB. Morgan Stanley set a $5.90 price objective on shares of Grab in a research note on Wednesday, May 6th. Benchmark reiterated a “buy” rating on shares of Grab in a research note on Thursday, February 12th. China Renaissance upgraded shares of Grab from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research note on Wednesday, May 6th. Weiss Ratings upgraded shares of Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $6.19.

Grab Price Performance

The company has a current ratio of 1.67, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. The business’s fifty day moving average is $3.69 and its 200 day moving average is $4.28. The company has a market cap of $13.69 billion, a P/E ratio of 334.33, a PEG ratio of 1.52 and a beta of 0.89.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). Grab had a net margin of 10.67% and a return on equity of 5.79%. The firm had revenue of $955.00 million for the quarter, compared to the consensus estimate of $921.71 million. As a group, sell-side analysts anticipate that Grab Holdings Limited will post 0.08 EPS for the current year.

Hedge Funds Weigh In On Grab

Institutional investors and hedge funds have recently bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in Grab during the fourth quarter valued at $25,000. Parallel Advisors LLC grew its holdings in Grab by 305.5% during the fourth 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 bought a new position in Grab during the third quarter valued at $38,000. Signaturefd LLC grew its holdings in Grab by 64.6% during the fourth 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 period. 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 valued at $39,000 after purchasing an additional 6,500 shares during the period. 55.52% of the stock is owned by institutional investors.

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.