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

Grab Holdings Limited (NASDAQ:GRAB) was the recipient of unusually large options trading on Tuesday. Traders purchased 10,837 call options on the stock. This represents an increase of approximately 235% compared to the typical daily volume of 3,234 call options.

Institutional Investors Weigh In On Grab

Several large investors have recently made changes to their positions in GRAB. Virtu Financial LLC bought a new stake in shares of Grab in the 4th quarter valued at approximately $191,000. Goldman Sachs Group Inc. boosted its position in Grab by 1.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 7,648,194 shares of the company’s stock worth $25,774,000 after purchasing an additional 126,365 shares during the period. Wellington Management Group LLP boosted its position in Grab by 21,347.2% during the fourth quarter. Wellington Management Group LLP now owns 6,724,121 shares of the company’s stock worth $22,660,000 after purchasing an additional 6,692,769 shares during the period. PNC Financial Services Group Inc. boosted its position in Grab by 33.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 55,789 shares of the company’s stock worth $188,000 after purchasing an additional 14,015 shares during the period. Finally, Vanguard Capital Wealth Advisors boosted its position in Grab by 288.5% during the first quarter. Vanguard Capital Wealth Advisors now owns 224,935 shares of the company’s stock worth $706,000 after purchasing an additional 167,035 shares during the period. Institutional investors own 55.52% of the company’s stock.

Grab Price Performance

Shares of GRAB opened at $4.16 on Wednesday. The company has a market capitalization of $16.32 billion, a price-to-earnings ratio of -59.57 and a beta of 0.83. Grab has a fifty-two week low of $2.90 and a fifty-two week high of $4.22. 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 business’s 50-day moving average is $3.50 and its 200-day moving average is $3.49.

Grab (NASDAQ:GRAB) last announced its quarterly earnings results on Thursday, August 15th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). The business had revenue of $664.00 million during the quarter, compared to analysts’ expectations of $674.17 million. Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.03) EPS. Equities research analysts expect that Grab will post -0.04 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on GRAB. Jefferies Financial Group cut their price objective on Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Benchmark restated a “buy” rating and set a $6.00 price objective on shares of Grab in a report on Wednesday, September 11th. Finally, Mizuho assumed coverage on Grab in a report on Thursday, June 27th. They set an “outperform” rating and a $5.00 price objective on the stock. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average 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.