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

Grab Holdings Limited (NASDAQ:GRAB) was the recipient of unusually large options trading activity on Thursday. Traders bought 45,209 call options on the stock. This represents an increase of approximately 81% compared to the typical volume of 24,972 call options.

Grab Trading Down 1.4%

GRAB opened at $4.92 on Friday. Grab has a 52 week low of $2.98 and a 52 week high of $5.72. The business has a fifty day simple moving average of $4.88 and a 200-day simple moving average of $4.68. The firm has a market cap of $19.81 billion, a P/E ratio of 246.12 and a beta of 0.84. The company has a quick ratio of 2.46, a current ratio of 2.49 and a debt-to-equity ratio of 0.04.

Analyst Ratings Changes

Several research analysts recently commented on GRAB shares. JPMorgan Chase & Co. reduced their price objective on shares of Grab from $5.60 to $5.30 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. CLSA raised shares of Grab to a “moderate buy” rating in a research report on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Grab presently has an average rating of “Moderate Buy” and an average price target of $5.71.

Institutional Trading of Grab

A number of hedge funds and other institutional investors have recently bought and sold shares of GRAB. Sequoia Financial Advisors LLC grew its holdings in shares of Grab by 6.0% during the first quarter. Sequoia Financial Advisors LLC now owns 45,934 shares of the company’s stock worth $208,000 after purchasing an additional 2,581 shares during the last quarter. Ellevest Inc. grew its holdings in shares of Grab by 3.3% during the fourth quarter. Ellevest Inc. now owns 82,793 shares of the company’s stock worth $391,000 after purchasing an additional 2,636 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Grab by 6.2% during the first quarter. Empowered Funds LLC now owns 52,698 shares of the company’s stock worth $239,000 after purchasing an additional 3,090 shares during the last quarter. Summit Securities Group LLC grew its holdings in shares of Grab by 63.6% during the first quarter. Summit Securities Group LLC now owns 8,229 shares of the company’s stock worth $37,000 after purchasing an additional 3,199 shares during the last quarter. Finally, Leibman Financial Services Inc. grew its holdings in shares of Grab by 1.7% during the first quarter. Leibman Financial Services Inc. now owns 201,858 shares of the company’s stock worth $914,000 after buying an additional 3,331 shares during the last quarter. 55.52% of the stock is currently owned by institutional investors and hedge funds.

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.