Grab (NASDAQ:GRAB) Stock Price Down 2.4% Following Insider Selling

Shares of Grab Holdings Limited (NASDAQ:GRAB) traded down 2.4% during trading on Monday following insider selling activity. The stock traded as low as $2.86 and last traded at $2.87. 39,206,800 shares changed hands during trading, a decline of 26% from the average session volume of 52,783,430 shares. The stock had previously closed at $2.94.

Specifically, insider Wolfgang Kandal sold 30,000 shares of the 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 sale, the insider directly owned 3,928,735 shares in the company, valued at approximately $11,786,205. This represents a 0.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 that occurred on Thursday, October 15th. The stock was sold at an average price of $2.98, for a total value of $149,000.00. Following the sale, the chief financial officer directly owned 6,753,470 shares of the company’s stock, valued at $20,125,340.60. This represents a 0.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analysts Set New Price Targets

GRAB has been the subject of several research analyst reports. Zacks Research upgraded Grab from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. Morgan Stanley reaffirmed an “overweight” rating and issued a $6.25 price target on shares of Grab in a research note on Tuesday, June 30th. Weiss Ratings downgraded shares of Grab from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, August 17th. KeyCorp set a $7.00 price objective on shares of Grab in a report on Wednesday, September 16th. Finally, Benchmark reissued a “buy” rating on shares of Grab in a research report on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $6.01.

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 fifty day moving average of $3.23 and a two-hundred day moving average of $3.50. The stock has a market capitalization of $11.92 billion, a P/E ratio of 48.26, a P/E/G ratio of 0.51 and a beta of 0.91.

Grab (NASDAQ:GRAB) last issued its earnings results 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. 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, analysts predict that Grab Holdings Limited will post 0.14 EPS for the current year.

Institutional Trading of Grab

Hedge funds have recently bought and sold shares of the stock. Montag A & Associates Inc. acquired a new position in Grab during the 1st quarter valued at approximately $27,000. Fermata Advisors LLC purchased a new position in shares of Grab in the third quarter worth $31,000. Strategic Global Advisors LLC purchased a new position in shares of Grab in the second quarter worth $41,000. 71 West Capital Partners acquired a new stake in shares of Grab during the second quarter worth $43,000. Finally, NewEdge Wealth LLC acquired a new stake in shares of Grab during the first quarter worth $42,000. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Grab Company Profile

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.