Grab (NASDAQ:GRAB) Shares Down 5.4% – Should You Sell?

Grab Holdings Limited (NASDAQ:GRAB) was down 5.4% during mid-day trading on Tuesday. The stock traded as low as $2.98 and last traded at $2.98. Approximately 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.

Wall Street Analyst Weigh In

GRAB has been the subject of a number of recent research reports. Benchmark restated a “buy” rating on shares of Grab in a research note on Tuesday, August 4th. Barclays dropped their target price on Grab from $7.00 to $5.00 and set an “overweight” rating on the stock in a research report on Thursday, July 9th. Bank of America reiterated a “buy” rating on shares of Grab in a research note on Friday, September 25th. Morgan Stanley reissued an “overweight” rating and set a $6.25 price target on shares of Grab in a report on Tuesday, June 30th. Finally, Zacks Research raised shares of Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. 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’s stock. According to MarketBeat.com, Grab presently has a consensus rating of “Buy” and an average price target of $6.11.

Grab Stock Down 5.4%

The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.51 and a current ratio of 1.52. The stock has a 50 day moving average price of $3.32 and a 200 day moving average price of $3.53. The company has a market cap of $12.21 billion, a P/E ratio of 49.67, a P/E/G ratio of 0.56 and a beta of 0.91.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.06 earnings per share 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. Research analysts expect that Grab Holdings Limited will post 0.14 earnings per share for the current fiscal year.

Insider Transactions at Grab

In other Grab news, CEO Ping Tan bought 10,350,000 shares of Grab stock in a transaction that occurred on Monday, September 21st. The stock was purchased at an average cost of $2.89 per share, for a total transaction of $29,911,500.00. Following the completion of the acquisition, the chief executive officer owned 10,778,498 shares of the company’s stock, valued at approximately $31,149,859.22. This represents a 2,415.41% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Peter Henry Oey sold 50,000 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $2.90, for a total value of $145,000.00. Following the sale, the chief financial officer directly owned 6,803,470 shares of the company’s stock, valued at approximately $19,730,063. This represents a 0.73% 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 819,349 shares of company stock valued at $2,865,355 in the last quarter. 3.60% of the stock is owned by company insiders.

Institutional Trading of Grab

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of 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 acquiring an additional 9,357,389 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Grab by 58.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 54,906,371 shares of the company’s stock valued at $200,957,000 after acquiring an additional 20,152,535 shares in the last quarter. Coronation Fund Managers Ltd. lifted its position in shares of Grab by 74.5% in the 1st quarter. Coronation Fund Managers Ltd. now owns 32,601,355 shares of the company’s stock valued at $119,321,000 after acquiring an additional 13,919,053 shares in the last quarter. Artisan Partners Limited Partnership lifted its position in shares of Grab by 5.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 27,977,786 shares of the company’s stock valued at $139,609,000 after acquiring an additional 1,340,082 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Grab by 13.4% in the 2nd quarter. Principal Financial Group Inc. now owns 24,289,581 shares of the company’s stock worth $91,572,000 after purchasing an additional 2,867,458 shares during the period. 55.52% of the stock is owned by hedge funds and other institutional investors.

About Grab

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.