Grab (NASDAQ:GRAB) Hits New 1-Year Low on Insider Selling

Grab Holdings Limited (NASDAQ:GRAB) shares reached a new 52-week low during trading on Friday after an insider sold shares in the company. The company traded as low as $3.36 and last traded at $3.3750, with a volume of 12181979 shares. The stock had previously closed at $3.46.

Specifically, insider Chin Yin Ong sold 38,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $3.43, for a total value of $130,340.00. Following the completion of the sale, the insider directly owned 3,743,306 shares in the company, valued at approximately $12,839,539.58. The trade was a 1.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analysts Set New Price Targets

Several research firms recently weighed in on GRAB. Zacks Research upgraded Grab from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Benchmark restated a “buy” rating on shares of Grab in a report on Thursday, February 12th. Morgan Stanley set a $5.90 price target on Grab in a report on Wednesday, May 6th. JPMorgan Chase & Co. cut their price target on Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a report on Tuesday, May 5th. Finally, Mizuho cut their price target on Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. One research 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $6.19.

Grab Trading Down 3.5%

The company has a market capitalization of $13.69 billion, a price-to-earnings ratio of 334.33, a price-to-earnings-growth ratio of 1.52 and a beta of 0.89. The business has a fifty day moving average price of $3.69 and a 200 day moving average price of $4.28. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.67 and a quick ratio of 1.65.

Grab (NASDAQ:GRAB) last issued 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 business had revenue of $955.00 million for the quarter, compared to analyst estimates of $921.71 million. On average, equities analysts expect that Grab Holdings Limited will post 0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Allianz Asset Management GmbH raised its stake in shares of Grab by 83.3% in the third quarter. Allianz Asset Management GmbH now owns 967,530 shares of the company’s stock valued at $5,825,000 after purchasing an additional 439,748 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of Grab by 9.8% in the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 11,821,595 shares of the company’s stock valued at $58,928,000 after purchasing an additional 1,050,619 shares in the last quarter. Altimeter Capital Management LP acquired a new position in shares of Grab in the third quarter valued at $1,764,000. Citigroup Inc. raised its stake in shares of Grab by 112.6% in the third quarter. Citigroup Inc. now owns 32,398,782 shares of the company’s stock valued at $195,041,000 after purchasing an additional 17,160,661 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Grab by 98.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,478,218 shares of the company’s stock valued at $37,316,000 after purchasing an additional 3,711,860 shares in the last quarter. 55.52% of the stock is currently owned by institutional investors and hedge funds.

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.