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

Grab Holdings Limited (NASDAQ:GRAB) shares reached a new 52-week low on Friday . The company traded as low as $3.46 and last traded at $3.5150, with a volume of 8138896 shares changing hands. The stock had previously closed at $3.57.

Analyst Ratings Changes

Several brokerages recently issued reports on GRAB. Morgan Stanley set a $5.90 price target on shares of Grab in a report on Wednesday, May 6th. Sanford C. Bernstein restated an “outperform” rating and issued a $5.80 target price on shares of Grab in a research report on Monday, January 26th. JPMorgan Chase & Co. decreased their target price on shares of Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a research note on Tuesday, May 5th. Benchmark reiterated a “buy” rating on shares of Grab in a report on Thursday, February 12th. Finally, Wall Street Zen upgraded Grab from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $6.19.

Grab Price Performance

The company has a 50 day moving average price of $3.77 and a 200-day moving average price of $4.52. The company has a market cap of $14.55 billion, a price-to-earnings ratio of 355.36, a P/E/G ratio of 1.61 and a beta of 0.93. The company has a quick ratio of 1.65, a current ratio of 1.67 and a debt-to-equity ratio of 0.06.

Grab (NASDAQ:GRAB) last posted its earnings results on Tuesday, May 5th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). Grab had a return on equity of 5.79% and a net margin of 10.67%.The business had revenue of $955.00 million for the quarter, compared to analyst estimates of $921.71 million. As a group, equities research analysts predict that Grab Holdings Limited will post 0.08 EPS for the current fiscal year.

Insider Activity at Grab

In related news, CAO John Pierantoni sold 14,819 shares of the business’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $3.61, for a total value of $53,496.59. Following the sale, the chief accounting officer owned 569,376 shares of the company’s stock, valued at $2,055,447.36. The trade was a 2.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Chin Yin Ong sold 38,000 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $3.59, for a total value of $136,420.00. Following the completion of the sale, the insider owned 3,822,988 shares of the company’s stock, valued at $13,724,526.92. The trade was a 0.98% decrease in their ownership of the stock. 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. Insiders have sold 990,819 shares of company stock valued at $3,661,077 in the last quarter. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Grab

Hedge funds have recently made changes to their positions in the stock. Allianz Asset Management GmbH lifted its position in shares of Grab by 83.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 967,530 shares of the company’s stock worth $5,825,000 after purchasing an additional 439,748 shares during the period. OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of Grab by 9.8% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 11,821,595 shares of the company’s stock worth $58,928,000 after buying an additional 1,050,619 shares during the period. Mediolanum International Funds Ltd increased its position in shares of Grab by 131.5% during the third quarter. Mediolanum International Funds Ltd now owns 1,697,761 shares of the company’s stock worth $10,373,000 after buying an additional 964,475 shares during the period. Altimeter Capital Management LP bought a new position in Grab during the third quarter worth $1,764,000. Finally, Principal Financial Group Inc. raised its stake in Grab by 68.3% during the third quarter. Principal Financial Group Inc. now owns 10,220,905 shares of the company’s stock worth $61,530,000 after buying an additional 4,149,040 shares during the last quarter. 55.52% of the stock is currently owned by institutional investors.

Grab Company Profile

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.