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

Grab Holdings Limited (NASDAQ:GRAB) was the recipient of some unusual options trading on Wednesday. Stock traders acquired 39,854 call options on the company. This represents an increase of 873% compared to the average daily volume of 4,096 call options.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Grab by 0.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 944,627 shares of the company’s stock worth $3,103,000 after acquiring an additional 5,317 shares during the last quarter. Norges Bank bought a new stake in shares of Grab in the fourth quarter worth $146,995,000. Congress Wealth Management LLC DE increased its holdings in Grab by 105.0% in the fourth quarter. Congress Wealth Management LLC DE now owns 81,447 shares of the company’s stock valued at $274,000 after purchasing an additional 41,711 shares during the period. Hsbc Holdings PLC raised its position in Grab by 594.7% during the 4th quarter. Hsbc Holdings PLC now owns 3,274,541 shares of the company’s stock worth $11,028,000 after purchasing an additional 3,936,451 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its holdings in Grab by 11.3% during the 4th quarter. Artisan Partners Limited Partnership now owns 24,894,289 shares of the company’s stock worth $83,894,000 after buying an additional 2,523,484 shares during the period. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Price Performance

GRAB stock opened at $3.66 on Friday. The stock has a market cap of $14.36 billion, a price-to-earnings ratio of -52.29 and a beta of 0.81. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.00 and a quick ratio of 2.97. The company has a 50 day simple moving average of $3.33 and a 200 day simple moving average of $3.40. Grab has a 1 year low of $2.90 and a 1 year high of $3.77.

Grab (NASDAQ:GRAB) last announced its quarterly earnings results on Thursday, August 15th. The company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. The company had revenue of $664.00 million during the quarter, compared to analysts’ expectations of $674.17 million. During the same period in the prior year, the company earned ($0.03) EPS. Grab’s revenue was up 17.1% compared to the same quarter last year. Research analysts anticipate that Grab will post -0.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GRAB has been the topic of a number of recent analyst reports. Benchmark restated a “buy” rating and issued a $6.00 price target on shares of Grab in a research report on Wednesday, September 11th. Mizuho began coverage on shares of Grab in a report on Thursday, June 27th. They set an “outperform” rating and a $5.00 price target for the company. Finally, Jefferies Financial Group reduced their price target on shares of Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $4.71.

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.