Grab Holdings Limited (NASDAQ:GRAB) Stock Has Average Target Price of $6.11 According to Brokerages

Grab Holdings Limited (NASDAQ:GRAB) has been given an average recommendation of “Moderate Buy” by the twelve analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $6.11.

Several brokerages have recently issued reports on GRAB. Bank of America reiterated a “buy” rating on shares of Grab in a research report on Friday, September 25th. Morgan Stanley reiterated an “overweight” rating and set a $6.25 price objective on shares of Grab in a research note on Tuesday, June 30th. KeyCorp set a $7.00 target price on Grab in a report on Wednesday, September 16th. Weiss Ratings lowered Grab from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, August 17th. Finally, Benchmark reiterated a “buy” rating on shares of Grab in a research report on Tuesday, August 4th.

Insider Activity at Grab

In related news, CFO Peter Henry Oey sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $2.90, for a total value of $145,000.00. Following the transaction, the chief financial officer directly owned 6,803,470 shares in the company, valued at approximately $19,730,063. This represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $3.43, for a total value of $130,340.00. Following the completion of the transaction, the insider owned 3,632,611 shares of the company’s stock, valued at $12,459,855.73. The trade was a 1.04% decrease in their ownership of the stock. 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 have sold a total of 1,181,349 shares of company stock valued at $4,311,935 in the last three months. Company insiders own 3.60% of the company’s stock.

Institutional Trading of Grab

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Grab by 6.4% during the second quarter. BlackRock Inc. now owns 156,175,807 shares of the company’s stock worth $588,783,000 after purchasing an additional 9,357,389 shares during the period. Assenagon Asset Management S.A. raised its stake in Grab by 58.0% in the first quarter. Assenagon Asset Management S.A. now owns 54,906,371 shares of the company’s stock valued at $200,957,000 after buying an additional 20,152,535 shares in the last quarter. WFM ASIA BVI Ltd lifted its stake in Grab by 12.5% during the fourth quarter. WFM ASIA BVI Ltd now owns 37,675,992 shares of the company’s stock worth $188,003,000 after purchasing an additional 4,194,477 shares during the last quarter. Coronation Fund Managers Ltd. boosted its stake in Grab by 74.5% in the first quarter. Coronation Fund Managers Ltd. now owns 32,601,355 shares of the company’s stock valued at $119,321,000 after acquiring an additional 13,919,053 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Grab during the fourth quarter worth about $161,484,000. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Grab Trading Down 1.3%

Grab stock opened at $3.08 on Friday. 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 has a 52 week low of $2.74 and a 52 week high of $6.60. The company has a market capitalization of $12.62 billion, a price-to-earnings ratio of 51.34, a price-to-earnings-growth ratio of 0.81 and a beta of 0.91. The stock has a 50-day moving average price of $3.36 and a 200 day moving average price of $3.56.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.05 by $0.01. Grab had a net margin of 15.97% and a return on equity of 8.83%. The company had revenue of $997.00 million for the quarter, compared to analyst estimates of $994.97 million. Sell-side analysts anticipate that Grab will post 0.13 EPS for the current year.

About Grab

Grab Holdings Limited is a Singapore-based technology company that operates a superapp serving consumers, drivers, merchants and businesses across Southeast Asia. Its platform connects users with everyday services through a single digital application.

The company’s main businesses include mobility services such as ride-hailing and taxi bookings, food and grocery delivery, and digital payments. Grab also provides financial services, including digital wallets, lending, insurance and other financial products, subject to local regulations.