Grab (NASDAQ:GRAB) Hits New 52-Week Low – Time to Sell?

Grab Holdings Limited (NASDAQ:GRABGet Free Report) reached a new 52-week low on Thursday . The stock traded as low as $3.20 and last traded at $3.2350, with a volume of 4266352 shares trading hands. The stock had previously closed at $3.27.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Morgan Stanley set a $5.90 target price on shares of Grab in a research note on Wednesday, May 6th. Mizuho cut their price target on shares of Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. JPMorgan Chase & Co. cut their price target on shares of Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a research note on Tuesday, May 5th. Benchmark restated a “buy” rating on shares of Grab in a research note on Thursday, February 12th. Finally, China Renaissance upgraded shares of Grab from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.19.

Get Our Latest Stock Report on GRAB

Grab Stock Down 2.3%

The business’s 50 day moving average price is $3.67 and its 200-day moving average price is $4.24. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.67 and a quick ratio of 1.65. The company has a market cap of $13.09 billion, a P/E ratio of 319.82, a PEG ratio of 1.50 and a beta of 0.89.

Grab (NASDAQ:GRABGet Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). Grab had a net margin of 10.67% and a return on equity of 5.79%. The firm had revenue of $955.00 million during the quarter, compared to the consensus estimate of $921.71 million. On average, analysts anticipate that Grab Holdings Limited will post 0.08 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Chin Yin Ong sold 48,000 shares of Grab stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $3.55, for a total value of $170,400.00. Following the completion of the transaction, the insider owned 3,781,306 shares in the company, valued at approximately $13,423,636.30. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Anthony Ping Yeow Tan sold 400,000 shares of Grab stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $3.67, for a total transaction of $1,468,000.00. Following the completion of the transaction, the chief executive officer owned 25,193 shares of the company’s stock, valued at $92,458.31. This trade represents a 94.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 1,156,819 shares of company stock worth $4,245,017. 3.60% of the stock is currently owned by insiders.

Institutional Trading of Grab

A number of hedge funds and other institutional investors have recently modified their holdings of GRAB. Norges Bank acquired a new stake in shares of Grab in the fourth quarter valued at approximately $161,484,000. PointState Capital LP increased its holdings in shares of Grab by 411.1% in 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 in the last quarter. Marshall Wace LLP increased its holdings in shares of Grab by 49.2% in 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 in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Grab by 173.3% in 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 in the last quarter. Finally, Citigroup Inc. increased its holdings in shares of Grab by 112.6% in 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 in the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Company Profile

(Get Free Report)

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.

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