Grab (NASDAQ:GRAB) Stock Price Down 2.4% After Insider Selling

Grab Holdings Limited (NASDAQ:GRAB)’s share price traded down 2.4% during mid-day trading on Monday following insider selling activity. The stock traded as low as $2.86 and last traded at $2.87. Approximately 39,206,800 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 52,783,430 shares. The stock had previously closed at $2.94.

Specifically, insider Wolfgang Kandal sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $3.00, for a total value of $90,000.00. Following the completion of the sale, the insider owned 3,928,735 shares of the company’s stock, valued at $11,786,205. This trade represents a 0.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Peter Oey sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $2.98, for a total transaction of $149,000.00. Following the completion of the transaction, the chief financial officer owned 6,753,470 shares of the company’s stock, valued at $20,125,340.60. This trade represents a 0.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analysts Set New Price Targets

Several research analysts have issued reports on GRAB shares. Weiss Ratings downgraded Grab from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, August 17th. Morgan Stanley reiterated an “overweight” rating and issued a $6.25 price objective on shares of Grab in a research report on Tuesday, June 30th. Benchmark reissued a “buy” rating on shares of Grab in a research note on Tuesday, August 4th. Bank of America restated a “buy” rating on shares of Grab in a research report on Friday, September 25th. Finally, KeyCorp set a $7.00 target price on Grab in a research report on Wednesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $6.01.

Grab Stock Up 0.7%

The company has a market cap of $11.84 billion, a P/E ratio of 48.17, a price-to-earnings-growth ratio of 0.51 and a beta of 0.91. The company has a current ratio of 1.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average price is $3.23 and its 200-day moving average price is $3.50.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. The company had revenue of $997.00 million during the quarter, compared to analysts’ expectations of $994.97 million. Grab had a net margin of 15.97% and a return on equity of 8.83%. As a group, equities research analysts expect that Grab Holdings Limited will post 0.14 EPS for the current year.

Hedge Funds Weigh In On Grab

Hedge funds and other institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. boosted its stake in Grab by 58.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 54,906,371 shares of the company’s stock worth $200,957,000 after acquiring an additional 20,152,535 shares during the last quarter. Coronation Fund Managers Ltd. grew its holdings in Grab by 74.5% during the first quarter. Coronation Fund Managers Ltd. now owns 32,601,355 shares of the company’s stock valued at $119,321,000 after purchasing an additional 13,919,053 shares during the period. Renaissance Technologies LLC acquired a new position in Grab during the first quarter valued at approximately $48,731,000. Bank of America Corp DE raised its holdings in Grab by 80.2% in the first quarter. Bank of America Corp DE now owns 23,993,894 shares of the company’s stock worth $87,818,000 after purchasing an additional 10,681,810 shares during the period. Finally, BlackRock Inc. raised its holdings in Grab by 6.4% in the second quarter. BlackRock Inc. now owns 156,175,807 shares of the company’s stock worth $588,783,000 after purchasing an additional 9,357,389 shares during the period. 55.52% of the stock is owned by institutional investors.

Grab Company Profile

Grab Holdings Inc (NASDAQ:GRAB) is a technology company that operates a superapp serving consumers, drivers, merchants and businesses across Southeast Asia. The company began as a ride-hailing service in Malaysia in 2012 and is headquartered in Singapore.

Grab’s platform provides mobility services, including ride-hailing, taxi bookings and other transportation options. It also offers food, grocery and package deliveries, connecting users with restaurants, retailers and delivery partners through its digital marketplace.

In addition, Grab provides digital financial services in selected markets, including payments, consumer and merchant lending, digital banking and insurance-related products.