Grab (NASDAQ:GRAB) Reaches New 12-Month Low After Insider Selling

Grab Holdings Limited (NASDAQ:GRAB)’s stock price reached a new 52-week low during trading on Wednesday after an insider sold shares in the company. The company traded as low as $3.09 and last traded at $3.0950, with a volume of 22728305 shares trading hands. The stock had previously closed at $3.25.

Specifically, insider Chin Ong sold 38,000 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $3.43, for a total transaction of $130,340.00. Following the completion of the sale, the insider directly owned 3,632,611 shares in the company, valued at approximately $12,459,855.73. The trade was a 1.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Alexander Hungate sold 145,349 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $3.48, for a total value of $505,814.52. Following the completion of the transaction, the chief operating officer owned 6,111,979 shares in the company, valued at approximately $21,269,686.92. This trade represents a 2.32% 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.

Wall Street Analyst Weigh In

A number of analysts recently commented on GRAB shares. Benchmark reiterated a “buy” rating on shares of Grab in a research report on Tuesday, August 4th. Zacks Research raised shares of Grab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Morgan Stanley reissued an “overweight” rating and issued a $6.25 price objective on shares of Grab in a report on Tuesday, June 30th. Weiss Ratings lowered shares of Grab from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, August 17th. Finally, Barclays reduced their target price on shares of Grab from $7.00 to $5.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $6.01.

Grab Trading Down 3.8%

The stock has a 50 day moving average of $3.61 and a 200-day moving average of $3.68. The company has a market capitalization of $12.81 billion, a P/E ratio of 51.91, a P/E/G ratio of 0.90 and a beta of 0.89. The company has a current ratio of 1.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.06.

Grab (NASDAQ:GRAB) last released its earnings results on Tuesday, August 4th. The company reported $0.06 EPS for the quarter, topping 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 company had revenue of $997.00 million for the quarter, compared to analysts’ expectations of $994.97 million. On average, research analysts predict that Grab Holdings Limited will post 0.13 EPS for the current year.

Institutional Trading of Grab

Several institutional investors and hedge funds have recently modified their holdings of the company. Pitcairn Co. increased its stake in Grab by 11.0% in the 2nd quarter. Pitcairn Co. now owns 20,964 shares of the company’s stock worth $105,000 after buying an additional 2,080 shares in the last quarter. Adalta Capital Management LLC lifted its position in shares of Grab by 2.2% in the third quarter. Adalta Capital Management LLC now owns 100,880 shares of the company’s stock valued at $607,000 after acquiring an additional 2,200 shares in the last quarter. Thrivent Financial for Lutherans grew its position in shares of Grab by 7.7% during the second quarter. Thrivent Financial for Lutherans now owns 32,099 shares of the company’s stock worth $161,000 after purchasing an additional 2,300 shares in the last quarter. Soros Fund Management LLC raised its stake in Grab by 19.7% during the 2nd quarter. Soros Fund Management LLC now owns 14,677 shares of the company’s stock valued at $74,000 after purchasing an additional 2,419 shares during the period. Finally, Corient Private Wealth LLC raised its stake in Grab by 1.9% during the 4th quarter. Corient Private Wealth LLC now owns 129,144 shares of the company’s stock valued at $643,000 after purchasing an additional 2,469 shares during the period. 55.52% of the stock is currently owned by institutional investors.

About Grab

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.