Grab (NASDAQ:GRAB) Stock Falls 2.3% – Here’s Why

by · The Cerbat Gem

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GRAB. Bank of America restated a “buy” rating on shares of Grab in a research report on Friday, September 25th. Benchmark reaffirmed a “buy” rating on shares of Grab in a research report on Tuesday, August 4th. Zacks Research upgraded Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Weiss Ratings lowered Grab from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, August 17th. Finally, Barclays cut their target price on Grab from $7.00 to $5.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $6.11.

Check Out Our Latest Analysis on GRAB

Grab Stock Performance

The firm’s fifty day moving average price is $3.28 and its 200 day moving average price is $3.51. The company has a current ratio of 1.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $11.94 billion, a price-to-earnings ratio of 48.59, a price-to-earnings-growth ratio of 0.51 and a beta of 0.91.

Grab (NASDAQ:GRAB – Get Free Report) last posted its earnings results 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. The firm had revenue of $997.00 million during the quarter, compared to the consensus estimate of $994.97 million. Grab had a net margin of 15.97% and a return on equity of 8.83%. Analysts forecast that Grab Holdings Limited will post 0.14 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Ping Tan acquired 10,350,000 shares of the firm’s stock in a transaction dated Monday, September 21st. The stock was acquired at an average cost of $2.89 per share, with a total value 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 $31,149,859.22. The trade was a 2,415.41% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Philipp Wolfgang Josef Kandal sold 30,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $3.08, for a total value of $92,400.00. Following the completion of the sale, the insider directly owned 3,958,735 shares of the company’s stock, valued at $12,192,903.80. The trade was a 0.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 819,349 shares of company stock valued at $2,865,355 in the last 90 days. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Grab

A number of institutional investors and hedge funds have recently made changes to their positions in GRAB. BlackRock Inc. grew its holdings in shares of Grab by 6.4% during the second quarter. BlackRock Inc. now owns 156,175,807 shares of the company’s stock worth $588,783,000 after buying an additional 9,357,389 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake 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 worth $200,957,000 after acquiring an additional 20,152,535 shares during the period. Coronation Fund Managers Ltd. lifted its position in Grab by 74.5% in the first 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. Principal Financial Group Inc. boosted its holdings in Grab by 13.4% in 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 in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Grab by 80.2% in the 1st quarter. Bank of America Corp DE now owns 23,993,894 shares of the company’s stock valued at $87,818,000 after purchasing an additional 10,681,810 shares in the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

About Grab

(Get Free Report)

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.

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