Grab (NASDAQ:GRAB) Stock Price Down 2% - Here's Why

Key Points

• Grab shares fell 2% to $2.94 in Friday trading, below both the 50-day and 200-day moving averages. Trading volume was slightly below the stock’s average daily volume.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and a $6.11 price target, despite mixed calls ranging from “Strong Buy” to “Sell.” Grab also exceeded quarterly earnings and revenue expectations.
• Insider activity was mixed: CEO Ping Tan purchased 10.35 million shares, while insider Chin Ong sold 38,000 shares under a pre-arranged trading plan. Institutional investors own 55.52% of Grab’s outstanding stock.

Grab Holdings Limited (NASDAQ:GRAB - Get Free Report)'s stock price traded down 2% during trading on Friday. The company traded as low as $2.90 and last traded at $2.94. 50,298,096 shares traded hands during mid-day trading, a decline of 5% from the average daily volume of 52,840,125 shares. The stock had previously closed at $3.00.

Analyst Ratings Changes

Several analysts have recently weighed in on GRAB shares. KeyCorp set a $7.00 price objective on shares of Grab in a report on Wednesday, September 16th. Weiss Ratings cut shares of Grab from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, August 17th. Bank of America reiterated a "buy" rating on shares of Grab in a research note on Friday, September 25th. Barclays reduced their target price on Grab from $7.00 to $5.00 and set an "overweight" rating on the stock in a report on Thursday, July 9th. Finally, Zacks Research upgraded Grab from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 6th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $6.11.

Grab Trading Down 2.0%

The company has a quick ratio of 1.51, a current ratio of 1.52 and a debt-to-equity ratio of 0.06. The business's fifty day moving average is $3.28 and its two-hundred day moving average is $3.51. The firm has a market cap of $12.05 billion, a price-to-earnings ratio of 49.01, a price-to-earnings-growth ratio of 0.51 and a beta of 0.91.

Grab (NASDAQ:GRAB - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. The firm had revenue of $997.00 million for the quarter, compared to the consensus estimate of $994.97 million. Grab had a return on equity of 8.83% and a net margin of 15.97%. Equities analysts anticipate that Grab Holdings Limited will post 0.14 earnings per share for the current fiscal year.

Insider Activity at Grab

In other news, insider Chin Ong sold 38,000 shares of the company's stock in a transaction on Monday, October 5th. The stock was sold at an average price of $3.09, for a total transaction of $117,420.00. Following the transaction, the insider owned 3,594,611 shares of the company's stock, valued at $11,107,347.99. This represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ping Tan purchased 10,350,000 shares of the business's stock in a transaction dated Monday, September 21st. The shares were purchased at an average cost of $2.89 per share, for a total transaction of $29,911,500.00. Following the purchase, the chief executive officer directly owned 10,778,498 shares of the company's stock, valued at $31,149,859.22. This trade represents a 2,415.41% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 819,349 shares of company stock valued at $2,865,355 over the last quarter. 3.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Grab

Several institutional investors and hedge funds have recently added to or reduced their stakes in GRAB. Corient Private Wealth LLC lifted its position in shares of Grab by 2.1% during the 4th quarter. Corient Private Wealth LLC now owns 129,340 shares of the company's stock valued at $644,000 after acquiring an additional 2,665 shares during the period. Resona Asset Management Co. Ltd. increased its position in shares of Grab by 0.4% in the first quarter. Resona Asset Management Co. Ltd. now owns 721,569 shares of the company's stock worth $2,628,000 after purchasing an additional 2,858 shares during the period. AdvisorNet Financial Inc increased its position in shares of Grab by 3.2% in the first quarter. AdvisorNet Financial Inc now owns 100,104 shares of the company's stock worth $366,000 after purchasing an additional 3,141 shares during the period. KBC Group NV increased its position in shares of Grab by 0.4% in the first quarter. KBC Group NV now owns 1,096,393 shares of the company's stock worth $4,012,000 after purchasing an additional 4,170 shares during the period. Finally, Keybank National Association OH raised its stake in Grab by 34.7% in the first quarter. Keybank National Association OH now owns 16,677 shares of the company's stock valued at $61,000 after purchasing an additional 4,295 shares in the last quarter. 55.52% of the stock is owned by institutional investors.

About Grab

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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