Grab Sees Unusually High Options Volume (NASDAQ:GRAB)

Grab Holdings Limited (NASDAQ:GRAB) was the target of unusually large options trading activity on Monday. Traders bought 66,701 call options on the stock. This represents an increase of 68% compared to the typical daily volume of 39,681 call options.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. JPMorgan Chase & Co. cut their target price on Grab from $5.90 to $4.80 and set an “overweight” rating on the stock in a report on Wednesday, October 28th. KeyCorp set a $7.00 price target on Grab in a research note on Wednesday, September 16th. Weiss Ratings downgraded Grab from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, August 17th. Benchmark reaffirmed a “buy” rating on shares of Grab in a research note on Tuesday, August 4th. Finally, Zacks Research upgraded Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Grab has an average rating of “Buy” and an average target price of $5.91.

Grab Trading Up 5.5%

Shares of GRAB traded up $0.15 during trading hours on Monday, hitting $2.86. 65,813,303 shares of the stock were exchanged, compared to its average volume of 52,784,891. Grab has a fifty-two week low of $2.67 and a fifty-two week high of $6.24. 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 business has a 50-day moving average of $3.10 and a 200-day moving average of $3.64. The firm has a market capitalization of $11.72 billion, a P/E ratio of 47.67, a price-to-earnings-growth ratio of 0.48 and a beta of 0.83.

Grab (NASDAQ:GRAB) last released its earnings results on Tuesday, August 4th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.01. The business had revenue of $997.00 million for the quarter, compared to analyst estimates of $994.97 million. Grab had a net margin of 15.97% and a return on equity of 8.83%. On average, research analysts expect that Grab will post 0.14 EPS for the current year.

Insider Activity

In other Grab news, CFO Peter Oey sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $2.98, for a total value of $149,000.00. Following the completion of the transaction, the chief financial officer directly owned 6,753,470 shares in the company, valued at approximately $20,125,340.60. This represents a 0.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ping Tan purchased 10,350,000 shares of the company’s stock in a transaction dated Monday, September 21st. The shares were acquired at an average cost of $2.89 per share, with a total value of $29,911,500.00. Following the purchase, the chief executive officer directly owned 10,778,498 shares of the company’s stock, valued at approximately $31,149,859.22. The trade was a 2,415.41% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders sold 861,349 shares of company stock worth $2,967,175. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in shares of Grab by 6.4% during the 2nd quarter. BlackRock Inc. now owns 156,175,807 shares of the company’s stock valued at $588,783,000 after purchasing an additional 9,357,389 shares in the last quarter. Coronation Fund Managers Ltd. grew its stake in Grab by 74.5% during the first quarter. Coronation Fund Managers Ltd. now owns 32,601,355 shares of the company’s stock worth $119,321,000 after purchasing an additional 13,919,053 shares during the period. Principal Financial Group Inc. increased its holdings in Grab by 13.4% in the second quarter. Principal Financial Group Inc. now owns 24,289,581 shares of the company’s stock worth $91,572,000 after purchasing an additional 2,867,458 shares in the last quarter. Bank of America Corp DE increased its holdings in Grab by 80.2% in the first quarter. Bank of America Corp DE now owns 23,993,894 shares of the company’s stock worth $87,818,000 after purchasing an additional 10,681,810 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Grab by 16.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 17,687,253 shares of the company’s stock valued at $68,200,000 after buying an additional 2,486,750 shares during the period. 55.52% of the stock is owned by institutional investors and hedge funds.

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.