Grab (NASDAQ:GRAB) Shares Gap Up on Insider Buying Activity

Grab Holdings Limited (NASDAQ:GRAB)’s stock price gapped up prior to trading on Tuesday after an insider bought additional shares in the company. The stock had previously closed at $2.91, but opened at $3.05. Grab shares last traded at $3.1120, with a volume of 50,175,843 shares.

Specifically, CEO Ping Tan purchased 10,350,000 shares of Grab stock in a transaction dated Monday, September 21st. The stock was purchased at an average price of $2.89 per share, with a total value of $29,911,500.00. Following the transaction, the chief executive officer directly owned 10,778,498 shares of the company’s stock, valued at $31,149,859.22. This trade represents a 2,415.41% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Alexander Hungate purchased 299,571 shares of the firm’s stock in a transaction on Monday, September 21st. The stock was acquired at an average price of $2.89 per share, for a total transaction of $865,760.19. Following the completion of the transaction, the chief operating officer directly owned 6,411,550 shares of the company’s stock, valued at approximately $18,529,379.50. This trade represents a 4.90% increase in their position. The SEC filing for this purchase provides additional information.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GRAB. Benchmark reiterated a “buy” rating on shares of Grab in a research note on Tuesday, August 4th. Morgan Stanley reiterated an “overweight” rating and issued a $6.25 target price on shares of Grab in a research report on Tuesday, June 30th. Weiss Ratings lowered shares of Grab from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, August 17th. KeyCorp set a $7.00 target price on Grab in a report on Wednesday, September 16th. Finally, Barclays cut their price target on shares of Grab from $7.00 to $5.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.11.

Grab Stock Performance

The business has a 50-day moving average price of $3.44 and a 200-day moving average price of $3.60. The firm has a market capitalization of $12.73 billion, a price-to-earnings ratio of 51.93, a P/E/G ratio of 0.73 and a beta of 0.89. The company has a quick ratio of 1.51, a current ratio of 1.52 and a debt-to-equity ratio of 0.06.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. The business had revenue of $997.00 million during the quarter, compared to the consensus estimate of $994.97 million. Grab had a return on equity of 8.83% and a net margin of 15.97%. As a group, sell-side analysts forecast that Grab Holdings Limited will post 0.13 earnings per share for the current year.

Institutional Trading of Grab

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in Grab during the 4th quarter valued at approximately $25,000. Montag A & Associates Inc. purchased a new stake in Grab in the 1st quarter worth $27,000. Larson Financial Group LLC raised its position in shares of Grab by 53.8% during the 4th quarter. Larson Financial Group LLC now owns 10,004 shares of the company’s stock worth $50,000 after purchasing an additional 3,500 shares during the last quarter. Strategic Global Advisors LLC acquired a new position in shares of Grab during the second quarter valued at approximately $41,000. Finally, Smith Chas P & Associates PA Cpas acquired a new position in Grab in the 4th quarter valued at $55,000. Institutional investors and hedge funds own 55.52% of the company’s stock.

About Grab

Grab Holdings Inc (NASDAQ: GRAB) is a technology company that operates a superapp serving consumers, drivers, merchants and businesses across Southeast Asia. Its platform connects users with transportation, food and grocery delivery, parcel and on-demand logistics, digital payments and other financial services.

The company began as a ride-hailing service in Malaysia in 2012, founded by Anthony Tan and Tan Hooi Ling, and expanded into a broader digital platform. Grab’s consumer offerings include private-hire and taxi services, GrabFood, GrabMart and GrabExpress, while its financial-services products include digital payments, lending, insurance and digital banking services offered in selected markets.

Grab serves markets across Southeast Asia, including Singapore, Malaysia, Indonesia, Thailand, Vietnam, the Philippines and Cambodia.