Shares of Grab Holdings Limited (NASDAQ:GRAB – Get Free Report) were down 2% on Friday. The stock traded as low as $2.90 and last traded at $2.94. 50,298,096 shares were traded during mid-day trading, a decline of 5% from the average session volume of 52,840,125 shares. The stock had previously closed at $3.00.
Analysts Set New Price Targets
GRAB has been the subject of a number of recent analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $6.25 price target on shares of Grab in a report on Tuesday, June 30th. Bank of America reiterated a “buy” rating on shares of Grab in a report on Friday, September 25th. KeyCorp set a $7.00 price objective on shares of Grab in a research report on Wednesday, September 16th. Weiss Ratings downgraded Grab from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, August 17th. Finally, Benchmark reiterated a “buy” rating on shares of Grab in a research note on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $6.11.
Read Our Latest Stock Analysis on GRAB
Grab Price Performance
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 firm has a market cap of $12.05 billion, a price-to-earnings ratio of 49.01, a P/E/G ratio of 0.52 and a beta of 0.91. The business’s 50-day moving average price is $3.26 and its two-hundred day moving average price is $3.51.
Grab (NASDAQ:GRAB – Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $997.00 million during the quarter, compared to analyst estimates of $994.97 million. Grab had a net margin of 15.97% and a return on equity of 8.83%. On average, research analysts forecast that Grab Holdings Limited will post 0.14 EPS for the current fiscal year.
Insider Activity at Grab
In related news, CEO Ping Tan bought 10,350,000 shares of the business’s stock in a transaction dated Monday, September 21st. The shares were acquired at an average price of $2.89 per share, for a total transaction of $29,911,500.00. Following the purchase, the chief executive officer owned 10,778,498 shares in the company, valued at $31,149,859.22. This trade represents a 2,415.41% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Alexander Hungate purchased 299,571 shares of Grab stock in a transaction dated Monday, September 21st. The shares were bought at an average cost of $2.89 per share, for a total transaction of $865,760.19. Following the transaction, the chief operating officer directly owned 6,411,550 shares of the company’s stock, valued at approximately $18,529,379.50. The trade was a 4.90% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 819,349 shares of company stock worth $2,865,355 over the last 90 days. Company insiders own 3.60% of the company’s stock.
Institutional Trading of Grab
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Capital Wealth Advisors boosted its holdings in shares of Grab by 56.1% in the 3rd quarter. Vanguard Capital Wealth Advisors now owns 59,202 shares of the company’s stock valued at $184,000 after buying an additional 21,282 shares during the period. AdvisorNet Financial Inc grew its position in shares of Grab by 18.5% during the 3rd quarter. AdvisorNet Financial Inc now owns 120,849 shares of the company’s stock valued at $352,000 after buying an additional 18,865 shares during the last quarter. HBW Advisory Services LLC bought a new stake in shares of Grab during the 3rd quarter valued at about $50,000. Fermata Advisors LLC acquired a new stake in Grab during the third quarter worth about $31,000. Finally, Andra AP fonden raised its stake in Grab by 27.6% during the second quarter. Andra AP fonden now owns 1,707,100 shares of the company’s stock worth $6,436,000 after acquiring an additional 369,700 shares during the period. 55.52% of the stock is owned by institutional investors.
Grab Company Profile
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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