Grab (NASDAQ:GRAB) Reaches New 12-Month Low – Here’s What Happened

Grab Holdings Limited (NASDAQ:GRAB)’s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $3.36 and last traded at $3.3750, with a volume of 12181979 shares trading hands. The stock had previously closed at $3.46.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on GRAB shares. China Renaissance raised shares of Grab from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a research note on Wednesday, May 6th. Zacks Research raised shares of Grab from a “strong sell” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. decreased their price target on shares of Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a research note on Tuesday, May 5th. Morgan Stanley set a $5.90 price target on shares of Grab in a research note on Wednesday, May 6th. Finally, Mizuho decreased their price target on shares of Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $6.19.

Grab Stock Down 3.3%

The stock has a market capitalization of $13.71 billion, a PE ratio of 334.83, a price-to-earnings-growth ratio of 1.55 and a beta of 0.89. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.67 and a quick ratio of 1.65. The business’s fifty day moving average price is $3.70 and its two-hundred day moving average price is $4.29.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The company had revenue of $955.00 million for the quarter, compared to analysts’ expectations of $921.71 million. Grab had a net margin of 10.67% and a return on equity of 5.79%. On average, equities research analysts forecast that Grab Holdings Limited will post 0.08 EPS for the current fiscal year.

Insider Activity at Grab

In other Grab news, insider Chin Yin Ong sold 48,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $3.55, for a total value of $170,400.00. Following the sale, the insider directly owned 3,781,306 shares of the company’s stock, valued at approximately $13,423,636.30. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Peter Henry Oey sold 50,000 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $3.54, for a total transaction of $177,000.00. Following the completion of the sale, the chief financial officer directly owned 7,000,165 shares in the company, valued at approximately $24,780,584.10. The trade was a 0.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,118,819 shares of company stock valued at $4,114,677 over the last three months. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Grab

Several hedge funds have recently added to or reduced their stakes in GRAB. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in Grab in the fourth quarter valued at $25,000. Montag A & Associates Inc. purchased a new stake in Grab in the first quarter valued at $27,000. Parallel Advisors LLC boosted its holdings in Grab by 305.5% in the fourth quarter. Parallel Advisors LLC now owns 6,107 shares of the company’s stock valued at $30,000 after purchasing an additional 4,601 shares during the last quarter. Signaturefd LLC boosted its holdings in Grab by 64.6% in the fourth quarter. Signaturefd LLC now owns 6,479 shares of the company’s stock valued at $32,000 after purchasing an additional 2,543 shares during the last quarter. Finally, Advocate Investing Services LLC purchased a new stake in Grab in the fourth quarter valued at $35,000. 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.