Zacks Research Upgrades Grab (NASDAQ:GRAB) to Hold

Grab (NASDAQ:GRAB) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

GRAB has been the topic of a number of other research reports. JPMorgan Chase & Co. dropped their price target on shares of Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a research report on Tuesday, May 5th. Weiss Ratings upgraded shares of Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Benchmark restated a “buy” rating on shares of Grab in a research report on Thursday, February 12th. Mizuho dropped their price target on shares of Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. Finally, China Renaissance upgraded shares of Grab from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Grab has a consensus rating of “Moderate Buy” and a consensus price target of $6.19.

Grab Stock Down 5.3%

Shares of NASDAQ GRAB opened at $3.41 on Tuesday. The company has a market capitalization of $13.97 billion, a P/E ratio of 341.34, a price-to-earnings-growth ratio of 1.63 and a beta of 0.89. Grab has a 52-week low of $3.38 and a 52-week high of $6.62. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 1.67. The company’s 50 day moving average price is $3.71 and its 200-day moving average price is $4.30.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The firm had revenue of $955.00 million during the quarter, compared to analyst estimates of $921.71 million. Grab had a return on equity of 5.79% and a net margin of 10.67%. Equities analysts forecast that Grab will post 0.08 earnings per share for the current year.

Insider Activity at Grab

In other news, insider Philipp Wolfgang Josef Kandal sold 30,000 shares of Grab stock in a transaction on Friday, May 15th. The shares were sold at an average price of $3.54, for a total value of $106,200.00. Following the completion of the sale, the insider owned 4,095,430 shares in the company, valued at $14,497,822.20. The trade was a 0.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Peter Henry Oey sold 50,000 shares of Grab stock in a transaction on Friday, May 15th. The shares were sold at an average price of $3.54, for a total transaction of $177,000.00. Following the completion of the sale, the chief financial officer owned 7,000,165 shares of the company’s stock, valued at $24,780,584.10. This represents a 0.71% 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 1,118,819 shares of company stock worth $4,114,677. 3.60% of the stock is owned by insiders.

Institutional Trading of Grab

Hedge funds have recently modified their holdings of the stock. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of Grab in the 4th quarter valued at $25,000. Parallel Advisors LLC increased its stake in shares of Grab by 305.5% in the 4th quarter. Parallel Advisors LLC now owns 6,107 shares of the company’s stock valued at $30,000 after acquiring an additional 4,601 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Grab in the 3rd quarter valued at $38,000. Signaturefd LLC increased its stake in Grab by 64.6% during the 4th quarter. Signaturefd LLC now owns 6,479 shares of the company’s stock valued at $32,000 after purchasing an additional 2,543 shares in the last quarter. Finally, Larson Financial Group LLC increased its stake in Grab by 162,500.0% during the 3rd quarter. Larson Financial Group LLC now owns 6,504 shares of the company’s stock valued at $39,000 after purchasing an additional 6,500 shares in the last quarter. 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.