Grab (NASDAQ:GRAB) Stock Jumps 3.1% – Still a Buy?

Grab Holdings Limited (NASDAQ:GRAB) shares rose 3.1% during trading on Thursday. The stock traded as high as $3.03 and last traded at $3.00. Approximately 56,654,165 shares were traded during mid-day trading, an increase of 7% from the average daily volume of 52,820,195 shares. The stock had previously closed at $2.91.

Analyst Ratings Changes

GRAB has been the topic of a number of research reports. Zacks Research upgraded Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. KeyCorp set a $7.00 price objective on shares of Grab in a research report on Wednesday, September 16th. Bank of America reiterated a “buy” rating on shares of Grab in a report on Friday, September 25th. Morgan Stanley reissued an “overweight” rating and set a $6.25 price target on shares of Grab in a research report on Tuesday, June 30th. Finally, Benchmark reissued 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, nine have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $6.11.

Grab Trading Up 3.1%

The business has a 50 day moving average of $3.29 and a two-hundred day moving average of $3.52. The firm has a market cap of $12.29 billion, a P/E ratio of 50.01, a PEG ratio of 0.52 and a beta of 0.91. 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 (NASDAQ:GRAB) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Grab had a net margin of 15.97% and a return on equity of 8.83%. The firm had revenue of $997.00 million during the quarter, compared to analysts’ expectations of $994.97 million. Analysts predict that Grab Holdings Limited will post 0.14 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Peter Henry Oey sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $2.90, for a total transaction of $145,000.00. Following the completion of the sale, the chief financial officer owned 6,803,470 shares in the company, valued at approximately $19,730,063. This trade represents a 0.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through 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 Grab stock in a transaction that occurred on Monday, September 21st. The shares were bought 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 in the company, valued at $31,149,859.22. This trade represents a 2,415.41% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders sold 819,349 shares of company stock valued at $2,865,355. 3.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Grab

Institutional investors have recently made changes to their positions in the company. HBW Advisory Services LLC acquired a new position in shares of Grab in the third quarter valued at approximately $50,000. Fermata Advisors LLC acquired a new stake in Grab during the 3rd quarter worth approximately $31,000. Andra AP fonden lifted its holdings in Grab by 27.6% during the 2nd quarter. Andra AP fonden now owns 1,707,100 shares of the company’s stock worth $6,436,000 after purchasing an additional 369,700 shares during the last quarter. Tidal Investments LLC lifted its holdings in Grab by 6.2% during the 2nd quarter. Tidal Investments LLC now owns 487,340 shares of the company’s stock worth $1,837,000 after purchasing an additional 28,398 shares during the last quarter. Finally, National Pension Service boosted its stake in Grab by 40.6% in the 2nd quarter. National Pension Service now owns 217,156 shares of the company’s stock valued at $819,000 after purchasing an additional 62,686 shares during the period. Institutional investors own 55.52% of the company’s stock.

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.