Grab (NASDAQ:GRAB) Announces Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Grab (NASDAQ:GRAB) issued its quarterly earnings data on Monday. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.04, Zacks reports. Grab had a net margin of 10.67% and a return on equity of 5.79%.

Grab Stock Up 4.9%

GRAB traded up $0.17 during trading hours on Monday, hitting $3.67. 65,165,633 shares of the company’s stock were exchanged, compared to its average volume of 50,498,773. Grab has a 12-month low of $3.18 and a 12-month high of $6.62. The firm has a 50 day moving average of $3.57 and a 200 day moving average of $3.84. The firm has a market cap of $15.04 billion, a P/E ratio of 367.37, a price-to-earnings-growth ratio of 1.34 and a beta of 0.89. The company has a current ratio of 1.67, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06.

Insider Buying and Selling

In other news, insider Philipp Wolfgang Josef Kandal sold 30,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $3.53, for a total transaction of $105,900.00. Following the sale, the insider owned 4,065,430 shares of the company’s stock, valued at approximately $14,350,967.90. This represents a 0.73% decrease in their ownership of the stock. The transaction 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. Also, COO Alexander Charles Hungate sold 144,093 shares of the stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $3.45, for a total value of $497,120.85. Following the completion of the sale, the chief operating officer owned 6,254,023 shares in the company, valued at approximately $21,576,379.35. The trade was a 2.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,628,093 shares of company stock worth $5,946,901 over the last three months. 3.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Grab

Large investors have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC grew its position in shares of Grab by 201.2% during the first quarter. Integrated Wealth Concepts LLC now owns 35,386 shares of the company’s stock worth $160,000 after buying an additional 23,639 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Grab by 6.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,231,195 shares of the company’s stock worth $41,817,000 after acquiring an additional 529,433 shares in the last quarter. Empowered Funds LLC increased its position in shares of Grab by 6.2% in the 1st quarter. Empowered Funds LLC now owns 52,698 shares of the company’s stock valued at $239,000 after purchasing an additional 3,090 shares during the last quarter. Focus Partners Wealth acquired a new stake in shares of Grab in the 1st quarter valued at $63,000. Finally, Cetera Investment Advisers lifted its position in shares of Grab by 11.7% during the 2nd quarter. Cetera Investment Advisers now owns 106,710 shares of the company’s stock worth $537,000 after purchasing an additional 11,158 shares during the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Analysts Set New Price Targets

GRAB has been the subject of a number of recent analyst 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. JPMorgan Chase & Co. decreased their price objective on shares of Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a report on Tuesday, May 5th. Mizuho dropped their target price on shares of Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Zacks Research raised Grab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Finally, Morgan Stanley restated an “overweight” rating and set a $6.25 price target on shares of Grab in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Grab currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.01.

About Grab

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.