Grab (NASDAQ:GRAB) Reaches New 52-Week Low After Insider Selling

Grab Holdings Limited (NASDAQ:GRAB) shares hit a new 52-week low on Tuesday following insider selling activity. The company traded as low as $3.50 and last traded at $3.5850, with a volume of 3012055 shares. The stock had previously closed at $3.56.

Specifically, insider Chin Yin Ong sold 38,000 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $3.62, for a total value of $137,560.00. Following the completion of the transaction, the insider owned 2,116,051 shares of the company’s stock, valued at approximately $7,660,104.62. This represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Grab in a research note on Thursday, January 22nd. Benchmark reissued a “buy” rating on shares of Grab in a research note on Thursday, February 12th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $5.80 target price on shares of Grab in a research note on Monday, January 26th. Wall Street Zen raised Grab from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, HSBC raised Grab from a “hold” rating to a “buy” rating and set a $6.20 target price for the company in a research note on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $6.47.

Grab Price Performance

The company has a 50 day moving average of $4.01 and a two-hundred day moving average of $4.91. The firm has a market cap of $14.51 billion, a P/E ratio of 118.04, a PEG ratio of 0.86 and a beta of 0.99. The company has a quick ratio of 1.73, a current ratio of 1.75 and a debt-to-equity ratio of 0.06.

Grab (NASDAQ:GRAB) last announced its earnings results on Wednesday, February 11th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.03. Grab had a return on equity of 4.09% and a net margin of 7.92%.The business had revenue of $906.00 million during the quarter, compared to analysts’ expectations of $942.08 million. Sell-side analysts expect that Grab Holdings Limited will post 0.05 EPS for the current year.

Institutional Investors Weigh In On Grab

Several hedge funds have recently modified their holdings of GRAB. Norges Bank purchased a new stake in shares of Grab during the fourth quarter valued at $161,484,000. PointState Capital LP lifted its holdings in shares of Grab by 411.1% during the fourth quarter. PointState Capital LP now owns 32,555,483 shares of the company’s stock valued at $162,452,000 after purchasing an additional 26,186,329 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Grab by 49.2% during the fourth quarter. Marshall Wace LLP now owns 72,453,397 shares of the company’s stock valued at $361,542,000 after purchasing an additional 23,891,108 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Grab by 173.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 34,753,836 shares of the company’s stock valued at $173,422,000 after purchasing an additional 22,038,961 shares during the last quarter. Finally, Citigroup Inc. lifted its holdings in shares of Grab by 112.6% during the third quarter. Citigroup Inc. now owns 32,398,782 shares of the company’s stock valued at $195,041,000 after purchasing an additional 17,160,661 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.