Grab (NASDAQ:GRAB) Reaches New 1-Year Low Following Insider Selling

Grab Holdings Limited (NASDAQ:GRAB) shares reached a new 52-week low on Tuesday after an insider sold shares in the company. 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 firm’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $3.62, for a total transaction of $137,560.00. Following the completion of the transaction, the insider directly owned 2,116,051 shares of the company’s stock, valued at $7,660,104.62. This trade represents a 1.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

GRAB has been the subject of several research reports. Sanford C. Bernstein restated an “outperform” rating and issued a $5.80 target price on shares of Grab in a research note on Monday, January 26th. HSBC raised shares of Grab from a “hold” rating to a “buy” rating and set a $6.20 target price on the stock in a report on Friday, January 16th. Wall Street Zen raised shares of Grab from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Grab in a research report on Thursday, January 22nd. Finally, Benchmark restated a “buy” rating on shares of Grab in a research report on Thursday, February 12th. One 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $6.47.

Grab Price Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.73 and a current ratio of 1.75. The firm has a market capitalization of $14.49 billion, a P/E ratio of 117.94, a P/E/G ratio of 0.86 and a beta of 0.99. The stock’s 50 day simple moving average is $4.03 and its 200 day simple moving average is $4.93.

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 net margin of 7.92% and a return on equity of 4.09%. The company had revenue of $906.00 million during the quarter, compared to the consensus estimate of $942.08 million. As a group, analysts expect that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Grab

Institutional investors and hedge funds have recently bought and sold shares of the company. Rockefeller Capital Management L.P. raised its position in Grab by 42.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 115,817 shares of the company’s stock valued at $578,000 after purchasing an additional 34,393 shares during the period. Corient Private Wealth LLC lifted its stake in shares of Grab by 2.1% in the 4th quarter. Corient Private Wealth LLC now owns 129,340 shares of the company’s stock worth $644,000 after acquiring an additional 2,665 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of Grab in the fourth quarter valued at about $25,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Grab in the fourth quarter valued at about $506,000. Finally, Sunbelt Securities Inc. raised its position in Grab by 624.7% during the fourth quarter. Sunbelt Securities Inc. now owns 7,522 shares of the company’s stock worth $38,000 after acquiring an additional 6,484 shares during the last quarter. 55.52% of the stock is currently owned by institutional investors and hedge funds.

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.