Grab (NASDAQ:GRAB) Sets New 12-Month Low – Here’s What Happened

Grab Holdings Limited (NASDAQ:GRAB)’s stock price reached a new 52-week low on Friday . The company traded as low as $3.46 and last traded at $3.5150, with a volume of 8138896 shares changing hands. The stock had previously closed at $3.57.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GRAB shares. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $5.80 target price on shares of Grab in a research report on Monday, January 26th. HSBC raised Grab from a “hold” rating to a “buy” rating and set a $6.20 price target for the company in a report on Friday, January 16th. Mizuho dropped their price objective on Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. Wall Street Zen raised Grab from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Finally, Morgan Stanley set a $5.90 target price on Grab in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.19.

Grab Trading Down 0.4%

The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 1.67. The business’s 50 day moving average price is $3.79 and its 200-day moving average price is $4.53. The firm has a market cap of $14.57 billion, a price-to-earnings ratio of 355.86, a price-to-earnings-growth ratio of 1.65 and a beta of 0.93.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). Grab had a return on equity of 5.79% and a net margin of 10.67%.The firm had revenue of $955.00 million during the quarter, compared to analyst estimates of $921.71 million. Equities analysts expect that Grab Holdings Limited will post 0.08 EPS for the current year.

Insiders Place Their Bets

In other Grab news, CAO John Pierantoni sold 14,819 shares of the business’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $3.61, for a total transaction of $53,496.59. Following the completion of the sale, the chief accounting officer owned 569,376 shares in the company, valued at $2,055,447.36. The trade was a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Anthony Ping Yeow Tan sold 400,000 shares of the stock in a transaction on 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 sale, the chief executive officer directly owned 25,193 shares in the company, valued at $92,458.31. This trade represents a 94.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 990,819 shares of company stock worth $3,661,077. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Grab

Institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its stake in Grab by 15.0% in the third quarter. EverSource Wealth Advisors LLC now owns 13,565 shares of the company’s stock valued at $82,000 after acquiring an additional 1,768 shares during the period. Savant Capital LLC raised its position in shares of Grab by 19.3% during the 3rd quarter. Savant Capital LLC now owns 12,093 shares of the company’s stock worth $73,000 after purchasing an additional 1,957 shares during the period. Pitcairn Co. lifted its holdings in shares of Grab by 11.0% in the 2nd quarter. Pitcairn Co. now owns 20,964 shares of the company’s stock worth $105,000 after purchasing an additional 2,080 shares during the last quarter. Adalta Capital Management LLC boosted its position in Grab by 2.2% during the 3rd quarter. Adalta Capital Management LLC now owns 100,880 shares of the company’s stock valued at $607,000 after purchasing an additional 2,200 shares during the period. Finally, Thrivent Financial for Lutherans boosted its position in Grab by 7.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 32,099 shares of the company’s stock valued at $161,000 after purchasing an additional 2,300 shares during the period. Institutional investors and hedge funds 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.