Stock Traders Buy Large Volume of Grab Call Options (NASDAQ:GRAB)

Grab Holdings Limited (NASDAQ:GRAB) was the recipient of unusually large options trading on Tuesday. Traders acquired 15,532 call options on the stock. This represents an increase of 98% compared to the typical volume of 7,853 call options.

Analysts Set New Price Targets

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

Grab Stock Performance

NASDAQ GRAB opened at $3.50 on Wednesday. The company’s fifty day moving average is $3.27 and its two-hundred day moving average is $3.23. Grab has a 52-week low of $2.67 and a 52-week high of $3.92. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.90 and a quick ratio of 3.87. The firm has a market capitalization of $13.73 billion, a price-to-earnings ratio of -35.00 and a beta of 0.81.

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

Institutional Trading of Grab

A number of institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank bought a new position in Grab in the fourth quarter worth $146,995,000. Barclays PLC raised its stake in shares of Grab by 21,204.4% in the 3rd quarter. Barclays PLC now owns 37,301,928 shares of the company’s stock valued at $132,048,000 after buying an additional 37,126,838 shares in the last quarter. Coronation Fund Managers Ltd. lifted its holdings in shares of Grab by 116.3% during the 1st quarter. Coronation Fund Managers Ltd. now owns 35,042,039 shares of the company’s stock worth $110,032,000 after acquiring an additional 18,839,407 shares during the period. Artisan Partners Limited Partnership boosted its position in shares of Grab by 11.3% during the 4th quarter. Artisan Partners Limited Partnership now owns 24,894,289 shares of the company’s stock valued at $83,894,000 after acquiring an additional 2,523,484 shares in the last quarter. Finally, Fullerton Fund Management Co Ltd. increased its stake in Grab by 20.9% in the fourth quarter. Fullerton Fund Management Co Ltd. now owns 17,315,851 shares of the company’s stock valued at $58,354,000 after acquiring an additional 2,997,442 shares during the period. 55.52% of the stock is currently owned by institutional investors.

About Grab

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.