Grab (NASDAQ:GRAB) Shares Gap Up Following Analyst Upgrade

Shares of Grab Holdings Limited (NASDAQ:GRAB) 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.

GRAB has been the subject of several other research reports. JPMorgan Chase & Co. increased their target price on shares of Grab from $4.80 to $5.10 and gave the stock an “overweight” rating in a report on Tuesday. KeyCorp set a $7.00 price objective on shares of Grab in a research report on Wednesday, September 16th. Zacks Research upgraded Grab from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Barclays dropped their price objective on Grab from $5.00 to $4.00 and set an “overweight” rating for the company in a report on Monday, October 19th. Finally, Benchmark restated a “buy” rating on shares of Grab in a research report on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $5.67.

Insider Buying and Selling

In other Grab news, CFO Peter Oey sold 50,000 shares of Grab stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $2.90, for a total transaction of $145,000.00. Following the completion of the transaction, the chief financial officer owned 6,803,470 shares of the company’s stock, valued at $19,730,063. The trade was a 0.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chin Ong sold 38,000 shares of the company’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $3.09, for a total transaction of $117,420.00. Following the sale, the insider directly owned 3,594,611 shares in the company, valued at $11,107,347.99. This trade represents a 1.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 861,349 shares of company stock worth $2,967,175 in the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Grab

A number of institutional investors have recently made changes to their positions in GRAB. Montag A & Associates Inc. purchased a new stake in shares of Grab in the 1st quarter valued at $27,000. Fermata Advisors LLC acquired a new stake in shares of Grab in the third quarter worth $31,000. MLP3 LLC purchased a new position in shares of Grab during the third quarter worth $31,000. Strategic Global Advisors LLC purchased a new position in shares of Grab during the second quarter worth $41,000. Finally, 71 West Capital Partners purchased a new position in shares of Grab during the second quarter worth $43,000. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Grab Stock Up 3.6%

The company has a market capitalization of $14.26 billion, a price-to-earnings ratio of 69.61, a P/E/G ratio of 0.55 and a beta of 0.83. The business’s 50-day moving average is $3.08 and its 200-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.

Grab (NASDAQ:GRAB) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The company 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 8.58% and a net margin of 14.76%. As a group, equities analysts predict that Grab Holdings Limited will post 0.14 earnings per share for the current year.

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.