Grab (NASDAQ:GRAB) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

Grab (NASDAQ:GRAB) had its target price decreased by JPMorgan Chase & Co. from $5.90 to $4.80 in a research report released on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other analysts also recently issued research reports about the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $6.25 price target on shares of Grab in a report on Tuesday, June 30th. Weiss Ratings cut shares of Grab from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, August 17th. Benchmark restated a “buy” rating on shares of Grab in a research report on Tuesday, August 4th. Zacks Research upgraded Grab from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Finally, Barclays reduced their target price on Grab from $5.00 to $4.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $5.91.

Grab Stock Performance

GRAB opened at $2.71 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.51 and a current ratio of 1.52. Grab has a 52-week low of $2.67 and a 52-week high of $6.24. The firm has a market cap of $11.10 billion, a P/E ratio of 45.17, a price-to-earnings-growth ratio of 0.49 and a beta of 0.91. The business’s fifty day moving average is $3.10 and its 200-day moving average is $3.64.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $997.00 million during the quarter, compared to the consensus estimate of $994.97 million. Grab had a return on equity of 8.83% and a net margin of 15.97%. Sell-side analysts expect that Grab will post 0.14 EPS for the current fiscal year.

Insider Activity at Grab

In other Grab news, insider Wolfgang Kandal sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $3.00, for a total value of $90,000.00. Following the sale, the insider owned 3,928,735 shares in the company, valued at $11,786,205. This trade represents a 0.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ping Tan bought 10,350,000 shares of the business’s stock in a transaction on Monday, September 21st. The stock was bought at an average price of $2.89 per share, for a total transaction of $29,911,500.00. Following the transaction, the chief executive officer directly owned 10,778,498 shares of the company’s stock, valued at approximately $31,149,859.22. This represents a 2,415.41% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold a total of 899,349 shares of company stock worth $3,104,355 in the last ninety days. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in shares of Grab by 13.4% during 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 during the period. ANTIPODES PARTNERS Ltd bought a new stake in shares of Grab in the second quarter worth $10,119,000. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Grab by 17.0% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,041,490 shares of the company’s stock valued at $7,696,000 after purchasing an additional 296,256 shares during the period. Hsbc Holdings PLC raised its position in Grab by 20.9% during the 2nd quarter. Hsbc Holdings PLC now owns 17,877,290 shares of the company’s stock worth $67,475,000 after purchasing an additional 3,090,656 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Grab by 16.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 17,687,253 shares of the company’s stock worth $68,200,000 after buying an additional 2,486,750 shares during the period. 55.52% of the stock is currently owned by institutional investors.

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.