Vanguard Group Inc. raised its holdings in Grab Holdings Limited (NASDAQ:GRAB – Free Report) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,910,523 shares of the company’s stock after purchasing an additional 259,099 shares during the quarter. Vanguard Group Inc. owned 0.22% of Grab worth $44,464,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Advisory Services Network LLC purchased a new stake in shares of Grab during the 3rd quarter worth approximately $38,000. Signaturefd LLC boosted its stake in shares of Grab by 64.6% during the 4th quarter. Signaturefd LLC now owns 6,479 shares of the company’s stock worth $32,000 after acquiring an additional 2,543 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Grab by 162,500.0% during the 3rd quarter. Larson Financial Group LLC now owns 6,504 shares of the company’s stock worth $39,000 after acquiring an additional 6,500 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Grab by 70.9% during the 3rd quarter. Allworth Financial LP now owns 8,085 shares of the company’s stock worth $49,000 after acquiring an additional 3,354 shares in the last quarter. Finally, Abound Financial LLC purchased a new stake in shares of Grab during the 3rd quarter worth approximately $60,000. Hedge funds and other institutional investors own 55.52% of the company’s stock.
Grab Trading Down 0.6%
Shares of Grab stock opened at $3.55 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.67 and a quick ratio of 1.65. Grab Holdings Limited has a 1 year low of $3.46 and a 1 year high of $6.62. The company has a market capitalization of $14.55 billion, a P/E ratio of 355.36, a P/E/G ratio of 1.61 and a beta of 0.93. The business has a 50 day moving average price of $3.77 and a 200 day moving average price of $4.52.
Insider Activity
In related news, CFO Peter Henry Oey sold 50,000 shares of Grab stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $3.92, for a total transaction of $196,000.00. Following the completion of the transaction, the chief financial officer directly owned 7,050,165 shares in the company, valued at $27,636,646.80. The trade was a 0.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony Ping Yeow Tan sold 400,000 shares of Grab stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $3.67, for a total value of $1,468,000.00. Following the transaction, the chief executive officer owned 25,193 shares of the company’s stock, valued at $92,458.31. This represents a 94.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 990,819 shares of company stock worth $3,661,077. 3.60% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on GRAB shares. Mizuho decreased their price target on Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Zacks Research lowered Grab from a “hold” rating to a “strong sell” rating in a research note on Monday, May 4th. Morgan Stanley set a $5.90 price target on Grab in a research note on Wednesday, May 6th. Weiss Ratings raised Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Finally, China Renaissance raised Grab from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.19.
Get Our Latest Stock Report on GRAB
Grab 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.
See Also
- Five stocks we like better than Grab
- 3 Stocks to Own If Gas Prices Keep Rising
- 3 Crucial Aerospace Component Makers That Analysts Love
- Alphabet’s Googlebook Brings Gemini AI to PC Hardware
- Peloton Stock Gives Back Gains After Upbeat Earnings Report
Want to see what other hedge funds are holding GRAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Grab Holdings Limited (NASDAQ:GRAB – Free Report).
Receive News & Ratings for Grab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Grab and related companies with MarketBeat.com's FREE daily email newsletter.
