Grab (NASDAQ:GRAB) Posts Earnings Results

Grab (NASDAQ:GRAB) issued its earnings results on Monday. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.02 by $0.04, Zacks reports. Grab had a net margin of 10.67% and a return on equity of 5.79%.

Grab Price Performance

Shares of Grab stock traded up $0.17 during midday trading on Monday, reaching $3.67. The company had a trading volume of 65,165,633 shares, compared to its average volume of 50,498,773. The company has a current ratio of 1.67, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $3.57 and a 200 day simple moving average of $3.84. Grab has a 1-year low of $3.18 and a 1-year high of $6.62. The company has a market capitalization of $15.04 billion, a price-to-earnings ratio of 367.37, a price-to-earnings-growth ratio of 1.34 and a beta of 0.89.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Mizuho reduced their target price on Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. Morgan Stanley reiterated an “overweight” rating and issued a $6.25 price objective on shares of Grab in a research report on Tuesday, June 30th. China Renaissance raised Grab from a “hold” rating to a “buy” rating and set a $5.00 price objective on the stock in a research note on Wednesday, May 6th. Zacks Research upgraded Grab from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Finally, Barclays lowered their target price on Grab from $7.00 to $5.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Grab has an average rating of “Moderate Buy” and an average price target of $6.01.

Insider Buying and Selling

In other Grab news, insider Philipp Wolfgang Josef Kandal sold 30,000 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $3.53, for a total transaction of $105,900.00. Following the completion of the sale, the insider directly owned 4,065,430 shares of the company’s stock, valued at approximately $14,350,967.90. The trade was a 0.73% decrease in their position. The sale was disclosed in a document filed 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, COO Alexander Charles Hungate sold 144,093 shares of Grab stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $3.45, for a total value of $497,120.85. Following the sale, the chief operating officer directly owned 6,254,023 shares of the company’s stock, valued at approximately $21,576,379.35. This trade represents a 2.25% 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. In the last three months, insiders sold 1,628,093 shares of company stock worth $5,946,901. 3.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GRAB. Soros Fund Management LLC grew its stake in Grab by 19.7% in the second quarter. Soros Fund Management LLC now owns 14,677 shares of the company’s stock valued at $74,000 after purchasing an additional 2,419 shares in the last quarter. Atom Investors LP bought a new stake in shares of Grab during the 4th quarter worth approximately $70,000. Focus Partners Wealth acquired a new stake in shares of Grab in the 1st quarter valued at approximately $63,000. Maia Wealth LLC acquired a new stake in shares of Grab in the 3rd quarter valued at approximately $62,000. Finally, Laird Norton Wetherby Wealth Management LLC bought a new position in shares of Grab in the third quarter valued at $60,000. 55.52% of the stock is owned by institutional investors and hedge funds.

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.