Grab Target of Unusually Large Options Trading (NASDAQ:GRAB)

Grab Holdings Limited (NASDAQ:GRAB) saw some unusual options trading on Monday. Traders purchased 50,235 put options on the stock. This represents an increase of approximately 586% compared to the typical daily volume of 7,323 put options.

Analysts Set New Price Targets

Several brokerages recently issued reports on GRAB. Barclays reduced their target price on Grab from $4.50 to $4.30 and set an “overweight” rating on the stock in a research report on Monday, February 5th. Benchmark reissued a “buy” rating and set a $6.00 price target on shares of Grab in a report on Monday. JPMorgan Chase & Co. raised shares of Grab from a “neutral” rating to an “overweight” rating and raised their price target for the company from $3.60 to $3.80 in a research note on Thursday, January 18th. Finally, HSBC reissued a “buy” rating and set a $4.30 price objective on shares of Grab in a research note on Thursday, April 4th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $5.10.

Institutional Trading of Grab

Several institutional investors and hedge funds have recently made changes to their positions in the company. Deutsche Bank AG lifted its position in Grab by 2.4% during the 3rd quarter. Deutsche Bank AG now owns 2,964,633 shares of the company’s stock worth $10,495,000 after acquiring an additional 69,792 shares during the period. FMR LLC lifted its position in Grab by 2,898.6% in the third quarter. FMR LLC now owns 4,581,183 shares of the company’s stock valued at $16,217,000 after purchasing an additional 4,428,407 shares during the period. Public Sector Pension Investment Board lifted its holdings in shares of Grab by 0.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 668,080 shares of the company’s stock valued at $2,365,000 after buying an additional 4,200 shares during the period. Kinetic Partners Management LP acquired a new position in shares of Grab during the 3rd quarter worth $23,176,000. Finally, OPTIMAS CAPITAL Ltd purchased a new stake in shares of Grab during the 4th quarter worth approximately $2,146,000. 55.52% of the stock is owned by hedge funds and other institutional investors.

Grab Stock Performance

Shares of Grab stock opened at $3.53 on Tuesday. The company has a market cap of $13.85 billion, a PE ratio of -35.40 and a beta of 0.81. The business has a 50-day simple moving average of $3.26 and a 200-day simple moving average of $3.23. Grab has a one year low of $2.67 and a one year high of $3.92. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.87 and a current ratio of 3.90.

Grab (NASDAQ:GRAB) last issued its earnings results on Thursday, February 22nd. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.03. The business had revenue of $653.00 million for the quarter, compared to analyst estimates of $633.82 million. Grab had a negative return on equity of 6.77% and a negative net margin of 18.43%. The business’s quarterly revenue was up 30.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.10) EPS. On average, equities research analysts forecast that Grab will post 0.01 EPS for the current fiscal year.

Grab Company Profile

Grab Holdings Limited engages in the provision of superapps in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The company offers its Grab ecosystem, a single platform with superapps for driver- and merchant-partners and consumers, that allows access to mobility, delivery, digital financial services, and enterprise sector offerings.