Grab Holdings Limited (NASDAQ:GRAB – Get Free Report)’s share price gapped up prior to trading on Tuesday after Weiss Ratings upgraded the stock from a sell (d+) rating to a hold (c-) rating. The stock had previously closed at $2.86, but opened at $3.22. Grab shares last traded at $3.2350, with a volume of 30,872,463 shares traded.
A number of other equities research analysts have also commented on the company. Benchmark restated a “buy” rating on shares of Grab in a research report on Tuesday, August 4th. Barclays decreased their price target on Grab from $5.00 to $4.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. Zacks Research upgraded shares of Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Bank of America reiterated a “buy” rating on shares of Grab in a research note on Friday, September 25th. Finally, KeyCorp set a $7.00 price objective on Grab in a research report on Wednesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Grab presently has a consensus rating of “Buy” and an average price target of $5.67.
Get Our Latest Analysis on Grab
Insider Activity
In other news, CFO Peter Oey sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $2.90, for a total value of $145,000.00. Following the completion of the transaction, the chief financial officer directly owned 6,803,470 shares in the company, valued at approximately $19,730,063. The trade was a 0.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Wolfgang Kandal sold 30,000 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $3.08, for a total value of $92,400.00. Following the transaction, the insider directly owned 3,958,735 shares of the company’s stock, valued at approximately $12,192,903.80. The trade was a 0.75% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 861,349 shares of company stock worth $2,967,175. Insiders own 3.60% of the company’s stock.
Institutional Investors Weigh In On Grab
Hedge funds have recently added to or reduced their stakes in the business. Resona Asset Management Co. Ltd. increased its stake in shares of Grab by 0.4% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 721,569 shares of the company’s stock valued at $2,628,000 after purchasing an additional 2,858 shares in the last quarter. KBC Group NV grew its stake in shares of Grab by 0.4% in the 1st quarter. KBC Group NV now owns 1,096,393 shares of the company’s stock valued at $4,012,000 after buying an additional 4,170 shares during the period. Keybank National Association OH increased its position in shares of Grab by 34.7% during the 1st quarter. Keybank National Association OH now owns 16,677 shares of the company’s stock worth $61,000 after purchasing an additional 4,295 shares during the last quarter. HB Wealth Management LLC increased its holdings in Grab by 11.7% in the 1st quarter. HB Wealth Management LLC now owns 48,140 shares of the company’s stock valued at $176,000 after purchasing an additional 5,059 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Grab by 35.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 20,715 shares of the company’s stock valued at $76,000 after buying an additional 5,415 shares during the period. 55.52% of the stock is currently owned by institutional investors.
Grab Stock Up 3.6%
The business’s fifty day moving average is $3.08 and its two-hundred day moving average is $3.62. 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 stock has a market cap of $14.26 billion, a price-to-earnings ratio of 69.61, a PEG ratio of 0.55 and a beta of 0.83.
Grab (NASDAQ:GRAB – Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. Grab had a return on equity of 8.58% and a net margin of 14.76%. The firm had revenue of $997.00 million for the quarter, compared to analyst estimates of $994.97 million. Equities analysts forecast that Grab Holdings Limited will post 0.14 earnings per share for the current fiscal year.
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.
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