Grab (NASDAQ:GRAB) Stock Falls 2% – Here’s Why

Grab Holdings Limited (NASDAQ:GRAB)’s stock price was down 2% during trading on Friday. The stock traded as low as $2.90 and last traded at $2.94. Approximately 50,298,096 shares traded hands during mid-day trading, a decline of 5% from the average session volume of 52,840,125 shares. The stock had previously closed at $3.00.

Analyst Ratings Changes

A number of analysts have recently weighed in on GRAB shares. Benchmark reaffirmed a “buy” rating on shares of Grab in a report on Tuesday, August 4th. Zacks Research raised Grab from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Barclays decreased 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. KeyCorp set a $7.00 target price on Grab in a research note on Wednesday, September 16th. Finally, Bank of America reissued a “buy” rating on shares of Grab in a report on Friday, September 25th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Grab currently has an average rating of “Buy” and a consensus target price of $6.11.

Grab Stock Down 2.0%

The company has a market capitalization of $12.05 billion, a price-to-earnings ratio of 49.01, a P/E/G ratio of 0.51 and a beta of 0.91. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.52 and a quick ratio of 1.51. The firm’s fifty day moving average price is $3.28 and its 200-day moving average price is $3.51.

Grab (NASDAQ:GRAB) last released 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 company had revenue of $997.00 million for the quarter, compared to the consensus estimate of $994.97 million. Sell-side analysts expect that Grab Holdings Limited will post 0.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Chin Ong sold 38,000 shares of Grab stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $3.09, for a total transaction of $117,420.00. Following the sale, the insider directly owned 3,594,611 shares of the company’s stock, valued at approximately $11,107,347.99. This trade represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ping Tan purchased 10,350,000 shares of Grab stock in a transaction dated Monday, September 21st. The shares were purchased at an average price 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. The trade was a 2,415.41% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have sold 819,349 shares of company stock worth $2,865,355. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Capital Wealth Advisors raised its stake in shares of Grab by 56.1% during the third quarter. Vanguard Capital Wealth Advisors now owns 59,202 shares of the company’s stock valued at $184,000 after acquiring an additional 21,282 shares during the last quarter. AdvisorNet Financial Inc lifted its holdings in shares of Grab by 18.5% during the third quarter. AdvisorNet Financial Inc now owns 120,849 shares of the company’s stock worth $352,000 after purchasing an additional 18,865 shares during the period. HBW Advisory Services LLC acquired a new position in shares of Grab during the third quarter worth $50,000. Fermata Advisors LLC bought a new stake in shares of Grab in the third quarter worth $31,000. Finally, Andra AP fonden grew its stake in shares of Grab by 27.6% in the second quarter. Andra AP fonden now owns 1,707,100 shares of the company’s stock worth $6,436,000 after purchasing an additional 369,700 shares during the last quarter. Institutional investors own 55.52% of the company’s stock.

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.