Grab (NASDAQ:GRAB) Shares Down 5.4% – Here’s Why

Shares of Grab Holdings Limited (NASDAQ:GRAB) were down 5.4% on Tuesday. The company traded as low as $2.98 and last traded at $2.98. 48,296,508 shares were traded during mid-day trading, a decline of 8% from the average session volume of 52,746,508 shares. The stock had previously closed at $3.15.

Analyst Ratings Changes

Several brokerages have commented on GRAB. Benchmark reaffirmed a “buy” rating on shares of Grab in a research note on Tuesday, August 4th. Zacks Research upgraded shares of Grab from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. Weiss Ratings cut shares of Grab from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, August 17th. Morgan Stanley reaffirmed an “overweight” rating and set a $6.25 price objective on shares of Grab in a research note on Tuesday, June 30th. Finally, KeyCorp set a $7.00 target price on Grab in a report on Wednesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $6.11.

Grab Trading Up 3.1%

The company has a market capitalization of $12.29 billion, a P/E ratio of 50.01, a price-to-earnings-growth ratio of 0.52 and a beta of 0.91. The business has a fifty day moving average price of $3.29 and a 200 day moving average price of $3.52. The company has a quick ratio of 1.51, a current ratio of 1.52 and a debt-to-equity ratio of 0.06.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. Grab had a return on equity of 8.83% and a net margin of 15.97%. The firm had revenue of $997.00 million during the quarter, compared to the consensus estimate of $994.97 million. On average, analysts expect that Grab Holdings Limited will post 0.14 earnings per share for the current fiscal year.

Insider Activity at Grab

In related news, CEO Ping Tan purchased 10,350,000 shares of the stock in a transaction on Monday, September 21st. The shares were purchased at an average cost of $2.89 per share, with a total value of $29,911,500.00. Following the acquisition, the chief executive officer directly owned 10,778,498 shares in the company, valued at $31,149,859.22. The trade was a 2,415.41% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Alexander Hungate acquired 299,571 shares of the business’s stock in a transaction on Monday, September 21st. The shares were bought at an average price of $2.89 per share, with a total value of $865,760.19. Following the completion of the transaction, the chief operating officer directly owned 6,411,550 shares of the company’s stock, valued at approximately $18,529,379.50. The trade was a 4.90% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 819,349 shares of company stock worth $2,865,355 in the last quarter. 3.60% of the stock is owned by corporate insiders.

Institutional Trading of Grab

Several large investors have recently modified their holdings of GRAB. Principal Financial Group Inc. grew its position in Grab by 13.4% during the 2nd quarter. Principal Financial Group Inc. now owns 24,289,581 shares of the company’s stock worth $91,572,000 after acquiring an additional 2,867,458 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new position in Grab in the second quarter valued at about $10,119,000. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Grab by 17.0% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,041,490 shares of the company’s stock valued at $7,696,000 after purchasing an additional 296,256 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of Grab by 20.9% during the second quarter. Hsbc Holdings PLC now owns 17,877,290 shares of the company’s stock valued at $67,475,000 after purchasing an additional 3,090,656 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Grab by 16.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 17,687,253 shares of the company’s stock valued at $68,200,000 after purchasing an additional 2,486,750 shares in the last quarter. 55.52% of the stock is owned by institutional investors and hedge funds.

Grab Company Profile

Grab Holdings Limited is a Singapore-based technology company that operates a superapp serving consumers, drivers, merchants and businesses across Southeast Asia. Its platform connects users with everyday services through a single digital application.

The company’s main businesses include mobility services such as ride-hailing and taxi bookings, food and grocery delivery, and digital payments. Grab also provides financial services, including digital wallets, lending, insurance and other financial products, subject to local regulations.