Grab (NASDAQ:GRAB) Stock Falls 2.3% – What’s Next?

Grab Holdings Limited (NASDAQ:GRAB) shares fell 2.3% on Wednesday. The company traded as low as $2.85 and last traded at $2.91. Approximately 58,803,215 shares were traded during trading, an increase of 11% from the average session volume of 52,776,332 shares. The stock had previously closed at $2.98.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GRAB shares. Barclays lowered their price target on Grab from $7.00 to $5.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. KeyCorp set a $7.00 price objective on Grab in a report on Wednesday, September 16th. Bank of America reiterated a “buy” rating on shares of Grab in a research report on Friday, September 25th. Zacks Research upgraded Grab from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $6.25 target price on shares of Grab in a report on Tuesday, June 30th. Two investment 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 an average rating of “Buy” and an average price target of $6.11.

Grab Stock Performance

The business’s fifty day moving average is $3.31 and its 200-day moving average is $3.52. The company has a quick ratio of 1.51, a current ratio of 1.52 and a debt-to-equity ratio of 0.06. The company has a market cap of $11.92 billion, a PE ratio of 48.51, a P/E/G ratio of 0.55 and a beta of 0.91.

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

Insider Buying and Selling at Grab

In related news, COO Alexander Hungate purchased 299,571 shares of the business’s stock in a transaction on Monday, September 21st. The stock was acquired at an average price of $2.89 per share, with a total value of $865,760.19. Following the completion of the acquisition, the chief operating officer owned 6,411,550 shares of the company’s stock, valued at approximately $18,529,379.50. This trade represents a 4.90% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Chin Ong sold 38,000 shares of the company’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $3.09, for a total value of $117,420.00. Following the completion of the sale, the insider owned 3,594,611 shares of the company’s stock, valued at approximately $11,107,347.99. The trade was a 1.05% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 819,349 shares of company stock valued at $2,865,355 in the last ninety days. 3.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Grab

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in Grab by 6.4% during the second quarter. BlackRock Inc. now owns 156,175,807 shares of the company’s stock valued at $588,783,000 after purchasing an additional 9,357,389 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Grab by 58.0% in the first quarter. Assenagon Asset Management S.A. now owns 54,906,371 shares of the company’s stock worth $200,957,000 after purchasing an additional 20,152,535 shares in the last quarter. Artisan Partners Limited Partnership increased its stake in shares of Grab by 5.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 27,977,786 shares of the company’s stock worth $139,609,000 after purchasing an additional 1,340,082 shares in the last quarter. Coronation Fund Managers Ltd. raised its position in shares of Grab by 74.5% during the 1st 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. Finally, Principal Financial Group Inc. raised its position in shares of Grab by 13.4% during the 2nd quarter. Principal Financial Group Inc. now owns 24,289,581 shares of the company’s stock valued at $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.

Grab Company Profile

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.