Grab (NASDAQ:GRAB) Releases Earnings Results, Misses Estimates By $0.04 EPS

Grab (NASDAQ:GRAB) released its earnings results on Monday. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04), Zacks reports. Grab had a net margin of 7.92% and a return on equity of 4.09%.

Grab Trading Down 1.4%

NASDAQ:GRAB traded down $0.05 during midday trading on Monday, hitting $3.62. The stock had a trading volume of 68,959,316 shares, compared to its average volume of 51,039,359. The stock has a 50-day moving average of $3.87 and a 200 day moving average of $4.65. The company has a quick ratio of 1.73, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $14.83 billion, a price-to-earnings ratio of 120.71, a PEG ratio of 0.90 and a beta of 0.93. Grab has a one year low of $3.48 and a one year high of $6.62.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. cut their target price on Grab from $6.10 to $5.90 and set an “overweight” rating on the stock in a research note on Monday, April 20th. Benchmark reaffirmed a “buy” rating on shares of Grab in a research note on Thursday, February 12th. HSBC raised Grab from a “hold” rating to a “buy” rating and set a $6.20 target price on the stock in a research note on Friday, January 16th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $5.80 target price on shares of Grab in a research note on Monday, January 26th. Finally, Wall Street Zen raised 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, five have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Grab currently has an average rating of “Moderate Buy” and an average target price of $6.56.

Insider Activity at Grab

In other Grab news, CEO Anthony Ping Yeow Tan sold 400,000 shares of the company’s stock in a transaction on Friday, April 10th. The stock was sold at an average price of $3.68, for a total transaction of $1,472,000.00. Following the completion of the sale, the chief executive officer owned 425,193 shares in the company, valued at $1,564,710.24. This represents a 48.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chin Yin Ong sold 38,000 shares of the company’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $3.62, for a total value of $137,560.00. Following the sale, the insider owned 2,116,051 shares of the company’s stock, valued at approximately $7,660,104.62. This represents a 1.76% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 552,819 shares of company stock valued at $2,056,657 over the last 90 days. Insiders own 3.60% of the company’s stock.

Institutional Trading of Grab

A number of hedge funds have recently bought and sold shares of GRAB. Parallel Advisors LLC lifted its holdings in Grab by 305.5% during the fourth quarter. Parallel Advisors LLC now owns 6,107 shares of the company’s stock worth $30,000 after buying an additional 4,601 shares during the period. Advocate Investing Services LLC purchased a new stake in Grab during the fourth quarter worth $35,000. Sunbelt Securities Inc. lifted its holdings in Grab by 624.7% during the fourth quarter. Sunbelt Securities Inc. now owns 7,522 shares of the company’s stock worth $38,000 after buying an additional 6,484 shares during the period. Advisory Services Network LLC purchased a new stake in Grab during the third quarter worth $38,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in Grab by 128.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,525 shares of the company’s stock worth $38,000 after buying an additional 4,225 shares during the period. Hedge funds and other institutional investors own 55.52% of the company’s stock.

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.