Grab (NASDAQ:GRAB) Cut to Hold at Zacks Research

Zacks Research downgraded shares of Grab (NASDAQ:GRAB) from a strong-buy rating to a hold rating in a research note published on Wednesday morning,Zacks reports.

Several other analysts also recently commented on GRAB. Benchmark reaffirmed a “buy” rating on shares of Grab in a research note on Tuesday, August 4th. JPMorgan Chase & Co. lifted their target price on shares of Grab from $4.80 to $5.10 and gave the stock an “overweight” rating in a research report on Tuesday. KeyCorp set a $7.00 target price on shares of Grab in a research note on Wednesday, September 16th. Bank of America reiterated a “buy” rating on shares of Grab in a report on Friday, September 25th. Finally, Barclays cut their price objective on shares of Grab from $5.00 to $4.00 and set an “overweight” rating for the company in a report on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Grab currently has an average rating of “Moderate Buy” and an average price target of $5.67.

Grab Stock Performance

GRAB stock opened at $3.41 on Wednesday. The company has a current ratio of 1.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.06. Grab has a 12-month low of $2.67 and a 12-month high of $6.24. The stock’s 50 day simple moving average is $3.07 and its 200 day simple moving average is $3.61. The firm has a market cap of $13.97 billion, a P/E ratio of 68.21, a P/E/G ratio of 0.50 and a beta of 0.83.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. Grab had a return on equity of 8.83% and a net margin of 15.97%. The business had revenue of $997.00 million during the quarter, compared to analyst estimates of $994.97 million. As a group, equities research analysts predict that Grab will post 0.13 EPS for the current year.

Insiders Place Their Bets

In other news, insider Chin Ong sold 38,000 shares of the business’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $3.21, for a total value of $121,980.00. Following the completion of the transaction, the insider owned 3,556,611 shares of the company’s stock, valued at $11,416,721.31. The trade was a 1.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ping Tan bought 10,350,000 shares of Grab stock in a transaction on Monday, September 21st. The shares were purchased at an average cost of $2.89 per share, with a total value of $29,911,500.00. Following the acquisition, 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders sold 899,349 shares of company stock worth $3,089,155. Insiders own 3.60% of the company’s stock.

Institutional Trading of Grab

A number of large investors have recently made changes to their positions in GRAB. Montag A & Associates Inc. purchased a new position in shares of Grab in the 1st quarter worth about $27,000. Fermata Advisors LLC acquired a new position in Grab in the third quarter worth $31,000. MLP3 LLC acquired a new stake in shares of Grab during the 3rd quarter worth approximately $31,000. Strategic Global Advisors LLC acquired a new position in shares of Grab during the second quarter worth approximately $41,000. Finally, NewEdge Wealth LLC bought a new stake in shares of Grab in the 1st quarter worth $42,000. Institutional investors and hedge funds own 55.52% of the company’s stock.

About Grab

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.