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

Grab Holdings Limited (NASDAQ:GRAB) saw unusually large options trading activity on Monday. Investors bought 66,701 call options on the stock. This is an increase of 68% compared to the average volume of 39,681 call options.

Insider Activity at Grab

In related news, CEO Ping Tan purchased 10,350,000 shares of Grab stock in a transaction that occurred on Monday, September 21st. The shares were acquired at an average price of $2.89 per share, with a total value of $29,911,500.00. Following the completion of the transaction, the chief executive officer directly owned 10,778,498 shares of the company’s stock, valued at $31,149,859.22. This represents a 2,415.41% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Wolfgang Kandal sold 30,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $3.08, for a total value of $92,400.00. Following the sale, the insider directly owned 3,958,735 shares in the company, valued at $12,192,903.80. This represents a 0.75% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 861,349 shares of company stock valued at $2,967,175. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Grab

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in shares of Grab by 6.4% during the second 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 in the last quarter. Coronation Fund Managers Ltd. raised its position 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 purchasing an additional 13,919,053 shares during the last quarter. Principal Financial Group Inc. raised its position in 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 purchasing an additional 2,867,458 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Grab by 80.2% during the first quarter. Bank of America Corp DE now owns 23,993,894 shares of the company’s stock valued at $87,818,000 after purchasing an additional 10,681,810 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Grab by 16.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 17,687,253 shares of the company’s stock valued at $68,200,000 after purchasing an additional 2,486,750 shares in the last quarter. Institutional investors own 55.52% of the company’s stock.

Grab Price Performance

Shares of GRAB stock traded up $0.15 on Monday, hitting $2.86. 65,813,303 shares of the company’s stock were exchanged, compared to its average volume of 52,784,891. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.52 and a quick ratio of 1.51. Grab has a 12 month low of $2.67 and a 12 month high of $6.24. The stock has a market cap of $11.72 billion, a P/E ratio of 47.67, a price-to-earnings-growth ratio of 0.48 and a beta of 0.83. The company has a 50 day moving average of $3.10 and a 200 day moving average of $3.64.

Grab (NASDAQ:GRAB) last released its earnings results on Tuesday, August 4th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. Grab had a return on equity of 8.83% and a net margin of 15.97%. The firm had revenue of $997.00 million for the quarter, compared to analysts’ expectations of $994.97 million. On average, equities research analysts predict that Grab will post 0.14 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Zacks Research raised Grab from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. JPMorgan Chase & Co. reduced their price objective on shares of Grab from $5.90 to $4.80 and set an “overweight” rating on the stock in a research note on Wednesday, October 28th. Weiss Ratings lowered shares of Grab from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, August 17th. KeyCorp set a $7.00 target price on shares of Grab in a research report on Wednesday, September 16th. Finally, Barclays cut their price target on shares of Grab from $5.00 to $4.00 and set an “overweight” rating for the company in a report on Monday, October 19th. Two investment 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’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $5.91.

About Grab

Grab Holdings Inc (NASDAQ:GRAB) is a technology company that operates a superapp serving consumers, drivers, merchants and businesses across Southeast Asia. The company began as a ride-hailing service in Malaysia in 2012 and is headquartered in Singapore.

Grab’s platform provides mobility services, including ride-hailing, taxi bookings and other transportation options. It also offers food, grocery and package deliveries, connecting users with restaurants, retailers and delivery partners through its digital marketplace.

In addition, Grab provides digital financial services in selected markets, including payments, consumer and merchant lending, digital banking and insurance-related products.