Grab (NASDAQ:GRAB) Stock Jumps 3.1% - Here's What Happened

Key Points

• Grab shares rose 3.1% to $3.00 on above-average trading volume, while the stock remained below its 50-day and 200-day moving averages.
• Analysts maintain a broadly positive outlook, with a consensus “Buy” rating and an average price target of $6.11; the company also recently exceeded quarterly EPS and revenue expectations.
• Insider activity was mixed: the CEO purchased 10.35 million shares, while the CFO sold 50,000 shares. Institutional investors own a majority 55.52% stake in Grab.

Grab Holdings Limited (NASDAQ:GRAB - Get Free Report)'s share price was up 3.1% on Thursday. The company traded as high as $3.03 and last traded at $3.00. 56,654,165 shares traded hands 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.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Benchmark restated a "buy" rating on shares of Grab in a research report on Tuesday, August 4th. Morgan Stanley reiterated an "overweight" rating and issued a $6.25 price objective on shares of Grab in a research report on Tuesday, June 30th. Barclays decreased their price objective on Grab from $7.00 to $5.00 and set an "overweight" rating on the stock in a research report on Thursday, July 9th. Zacks Research raised Grab from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 6th. Finally, Bank of America restated a "buy" rating on shares of Grab in a research report on Friday, September 25th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Grab presently has a consensus rating of "Buy" and a consensus price target of $6.11.

Grab Stock Up 3.1%

The business's fifty day simple moving average is $3.29 and its 200 day simple moving average is $3.52. The company has a current ratio of 1.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.06. The stock has a market cap of $12.29 billion, a price-to-earnings ratio of 50.01, a price-to-earnings-growth ratio of 0.52 and a beta of 0.91.

Grab (NASDAQ:GRAB - Get Free Report) last issued its 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. The company had revenue of $997.00 million during the quarter, compared to analysts' expectations of $994.97 million. Grab had a net margin of 15.97% and a return on equity of 8.83%. Equities analysts forecast that Grab Holdings Limited will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Grab

In other Grab news, CFO Peter Henry Oey sold 50,000 shares of the stock in a transaction dated 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 owned 6,803,470 shares of the company's stock, valued at approximately $19,730,063. This represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 on Monday, September 21st. The shares were bought at an average price of $2.89 per share, for a total transaction of $29,911,500.00. Following the acquisition, the chief executive officer owned 10,778,498 shares of the company's stock, valued at approximately $31,149,859.22. The trade was a 2,415.41% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 819,349 shares of company stock valued at $2,865,355 over the last quarter. 3.60% of the stock is owned by corporate insiders.

Institutional Trading of Grab

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in Grab by 6.4% during the 2nd quarter. BlackRock Inc. now owns 156,175,807 shares of the company's stock worth $588,783,000 after buying an additional 9,357,389 shares during the period. Assenagon Asset Management S.A. lifted 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. Coronation Fund Managers Ltd. lifted 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 buying an additional 13,919,053 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in shares of Grab by 5.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 27,977,786 shares of the company's stock valued at $139,609,000 after buying an additional 1,340,082 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Grab by 13.4% in the second quarter. Principal Financial Group Inc. now owns 24,289,581 shares of the company's stock valued at $91,572,000 after buying an additional 2,867,458 shares during the period. 55.52% of the stock is owned by institutional investors.

Grab Company Profile

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.

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