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

Shares of Grab Holdings Limited (NASDAQ:GRAB) reached a new 52-week low during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $3.09 and last traded at $3.0950, with a volume of 22728305 shares trading hands. The stock had previously closed at $3.25.

Specifically, insider Chin Ong sold 38,000 shares of the business’s stock in a transaction that occurred on Thursday, September 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 owned 3,632,611 shares in the company, valued at $12,459,855.73. The trade was a 1.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Alexander Hungate sold 145,349 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $3.48, for a total transaction of $505,814.52. Following the transaction, the chief operating officer directly owned 6,111,979 shares in the company, valued at approximately $21,269,686.92. This represents a 2.32% 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.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Barclays lowered their price target on shares of Grab from $7.00 to $5.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. Benchmark reissued a “buy” rating on shares of Grab in a research note on Tuesday, August 4th. Weiss Ratings cut Grab from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, August 17th. Morgan Stanley restated an “overweight” rating and set a $6.25 price target on shares of Grab in a research report on Tuesday, June 30th. Finally, Zacks Research raised Grab from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Grab currently has a consensus rating of “Moderate Buy” and an average price target of $6.01.

Grab Trading Down 3.8%

The company has a market capitalization of $12.81 billion, a P/E ratio of 51.91, a P/E/G ratio of 0.90 and a beta of 0.89. The stock’s 50 day moving average is $3.61 and its 200-day moving average is $3.68. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.52 and a quick ratio of 1.51.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. Grab had a return on equity of 8.83% and a net margin of 15.97%.The business had revenue of $997.00 million during the quarter, compared to analyst estimates of $994.97 million. As a group, equities research analysts anticipate that Grab Holdings Limited will post 0.13 earnings per share for the current year.

Institutional Investors Weigh In On Grab

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

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.