Grab (NASDAQ:GRAB) Upgraded at China Renaissance

China Renaissance upgraded shares of Grab (NASDAQ:GRAB) from a hold rating to a buy rating in a research report released on Wednesday morning, Marketbeat reports. The firm currently has $5.00 price objective on the stock.

Several other analysts have also commented on the stock. Benchmark reissued a “buy” rating on shares of Grab in a research note on Thursday, February 12th. Sanford C. Bernstein restated an “outperform” rating and issued a $5.80 price target on shares of Grab in a research report on Monday, January 26th. HSBC raised Grab from a “hold” rating to a “buy” rating and set a $6.20 price target on the stock in a report on Friday, January 16th. Wall Street Zen upgraded Grab from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Finally, Weiss Ratings cut Grab from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.19.

Grab Price Performance

NASDAQ:GRAB opened at $3.72 on Wednesday. The company has a quick ratio of 1.73, a current ratio of 1.67 and a debt-to-equity ratio of 0.06. The business’s 50-day moving average price is $3.84 and its 200 day moving average price is $4.60. Grab has a 52-week low of $3.48 and a 52-week high of $6.62. The firm has a market cap of $15.24 billion, a P/E ratio of 372.37, a PEG ratio of 1.83 and a beta of 0.93.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). Grab had a net margin of 10.67% and a return on equity of 5.79%. The business had revenue of $955.00 million during the quarter, compared to analyst estimates of $921.71 million. As a group, sell-side analysts predict that Grab will post 0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Philipp Wolfgang Josef Kandal sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $4.00, for a total value of $80,000.00. Following the completion of the sale, the insider owned 4,125,430 shares in the company, valued at approximately $16,501,720. This represents a 0.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony Ping Yeow Tan sold 400,000 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $3.68, for a total transaction of $1,472,000.00. Following the completion of the transaction, the chief executive officer directly owned 425,193 shares of the company’s stock, valued at $1,564,710.24. This represents a 48.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 590,819 shares of company stock worth $2,193,077 in the last quarter. Corporate insiders own 3.60% of the company’s stock.

Institutional Trading of Grab

Hedge funds and other institutional investors have recently modified their holdings of the business. Baader Bank Aktiengesellschaft grew its holdings in shares of Grab by 26.9% during the first quarter. Baader Bank Aktiengesellschaft now owns 72,947 shares of the company’s stock valued at $244,000 after buying an additional 15,441 shares in the last quarter. Andra AP fonden lifted its stake in Grab by 48.9% in the 1st quarter. Andra AP fonden now owns 1,337,400 shares of the company’s stock worth $4,895,000 after acquiring an additional 439,500 shares in the last quarter. WCM Investment Management LLC boosted its position in Grab by 5.7% during the 1st quarter. WCM Investment Management LLC now owns 1,022,246 shares of the company’s stock worth $3,609,000 after acquiring an additional 55,121 shares during the period. Dimensional Fund Advisors LP boosted its position in Grab by 11.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 341,881 shares of the company’s stock worth $1,251,000 after acquiring an additional 36,363 shares during the period. Finally, Parallel Advisors LLC grew its stake in Grab by 277.1% during the 1st quarter. Parallel Advisors LLC now owns 23,032 shares of the company’s stock valued at $84,000 after acquiring an additional 16,925 shares in the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Company Profile

Grab Holdings Inc is a Singapore-based technology company that operates a consumer-facing “super app” across Southeast Asia offering services spanning ride-hailing, food and package delivery, and digital payments. Its platform connects consumers, drivers, merchants and delivery partners through mobile applications and supports on-demand mobility (taxi and private car), last-mile logistics, and on-demand food delivery under brands such as GrabFood and GrabExpress. The company has also developed a merchant-facing ecosystem that supports ordering, payment acceptance and loyalty functions.

Beyond transportation and delivery, Grab has expanded into financial services through Grab Financial Group, which provides digital payments via GrabPay, consumer lending, insurance distribution and small-business financial solutions.