Grab (NASDAQ:GRAB) Reaches New 12-Month Low – Time to Sell?

Grab Holdings Limited (NASDAQ:GRAB) hit a new 52-week low on Monday. The company traded as low as $2.68 and last traded at $2.7250, with a volume of 9,785,763 shares trading hands. The stock had previously closed at $2.79.

Analyst Upgrades and Downgrades

GRAB has been the topic of a number of recent research reports. Barclays cut their target price on shares of Grab from $5.00 to $4.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Weiss Ratings downgraded shares of Grab from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, August 17th. KeyCorp set a $7.00 price objective on shares of Grab in a research note on Wednesday, September 16th. Benchmark restated a “buy” rating on shares of Grab in a research note on Tuesday, August 4th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $6.25 target price on shares of Grab in a report on Tuesday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $6.01.

Grab Trading Down 3.0%

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 company has a market cap of $11.08 billion, a price-to-earnings ratio of 45.09, a PEG ratio of 0.49 and a beta of 0.91. The business’s 50-day simple moving average is $3.18 and its 200-day simple moving average is $3.48.

Grab (NASDAQ:GRAB) last issued its quarterly 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 business had revenue of $997.00 million during the quarter, compared to the consensus estimate of $994.97 million. Research analysts predict that Grab Holdings Limited will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Grab

In other news, insider Wolfgang Kandal sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $3.00, for a total value of $90,000.00. Following the completion of the sale, the insider directly owned 3,928,735 shares in the company, valued at approximately $11,786,205. The trade was a 0.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Peter Oey sold 50,000 shares of the firm’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $2.98, for a total transaction of $149,000.00. Following the completion of the transaction, the chief financial officer directly owned 6,753,470 shares in the company, valued at $20,125,340.60. This represents a 0.73% decrease in their position. 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. In the last 90 days, insiders sold 899,349 shares of company stock valued at $3,104,355. Company insiders own 3.60% of the company’s stock.

Institutional Trading of Grab

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in shares of Grab by 6.4% during the 2nd quarter. BlackRock Inc. now owns 156,175,807 shares of the company’s stock valued at $588,783,000 after purchasing an additional 9,357,389 shares during the period. Coronation Fund Managers Ltd. lifted its holdings in Grab by 74.5% in the 1st quarter. Coronation Fund Managers Ltd. now owns 32,601,355 shares of the company’s stock valued at $119,321,000 after acquiring an additional 13,919,053 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Grab by 13.4% during 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. Bank of America Corp DE grew its stake in shares of Grab by 80.2% in the 1st quarter. Bank of America Corp DE now owns 23,993,894 shares of the company’s stock worth $87,818,000 after purchasing an additional 10,681,810 shares during the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of Grab by 20.9% in the 2nd quarter. Hsbc Holdings PLC now owns 17,877,290 shares of the company’s stock worth $67,475,000 after purchasing an additional 3,090,656 shares in the last quarter. Institutional investors own 55.52% of the company’s stock.

About Grab

Grab Holdings Inc (NASDAQ:GRAB) is a technology company that operates a superapp serving consumers, drivers, merchants and businesses across Southeast Asia. The company began as a ride-hailing service in Malaysia in 2012 and is headquartered in Singapore.

Grab’s platform provides mobility services, including ride-hailing, taxi bookings and other transportation options. It also offers food, grocery and package deliveries, connecting users with restaurants, retailers and delivery partners through its digital marketplace.

In addition, Grab provides digital financial services in selected markets, including payments, consumer and merchant lending, digital banking and insurance-related products.