Strategic Global Advisors LLC reduced its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB – Free Report) by 88.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 250,347 shares of the company’s stock after selling 1,902,651 shares during the quarter. Strategic Global Advisors LLC’s holdings in Grab were worth $1,249,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Invesco Ltd. boosted its stake in shares of Grab by 24.9% during the 3rd quarter. Invesco Ltd. now owns 79,797,848 shares of the company’s stock worth $480,383,000 after acquiring an additional 15,916,063 shares during the period. Marshall Wace LLP boosted its stake in shares of Grab by 49.2% during the 4th quarter. Marshall Wace LLP now owns 72,453,397 shares of the company’s stock worth $361,542,000 after acquiring an additional 23,891,108 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Grab by 1.6% during the 4th quarter. JPMorgan Chase & Co. now owns 56,669,014 shares of the company’s stock worth $282,778,000 after acquiring an additional 878,966 shares during the period. State Street Corp boosted its stake in shares of Grab by 5.7% during the 4th quarter. State Street Corp now owns 45,938,139 shares of the company’s stock worth $229,231,000 after acquiring an additional 2,466,572 shares during the period. Finally, WFM ASIA BVI Ltd boosted its stake in shares of Grab by 12.5% during the 4th quarter. WFM ASIA BVI Ltd now owns 37,675,992 shares of the company’s stock worth $188,003,000 after acquiring an additional 4,194,477 shares during the period. 55.52% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research analysts have recently commented on GRAB shares. Morgan Stanley set a $5.90 target price on Grab in a research note on Wednesday, May 6th. Zacks Research raised Grab from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Weiss Ratings raised Grab from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. dropped their price target on Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a report on Tuesday, May 5th. Finally, Mizuho dropped their price target on Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $6.19.
Grab Stock Performance
NASDAQ:GRAB opened at $3.30 on Monday. The stock has a market cap of $13.52 billion, a P/E ratio of 330.33, a PEG ratio of 1.50 and a beta of 0.89. The stock has a 50 day simple moving average of $3.66 and a 200 day simple moving average of $4.21. The company has a current ratio of 1.67, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. Grab Holdings Limited has a 1-year low of $3.18 and a 1-year high of $6.62.
Grab (NASDAQ:GRAB – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). The firm had revenue of $955.00 million for the quarter, compared to analyst estimates of $921.71 million. Grab had a return on equity of 5.79% and a net margin of 10.67%. Research analysts anticipate that Grab Holdings Limited will post 0.08 earnings per share for the current year.
Insider Buying and Selling
In other Grab news, CFO Peter Henry Oey sold 50,000 shares of Grab stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $3.92, for a total value of $196,000.00. Following the completion of the transaction, the chief financial officer directly owned 7,050,165 shares of the company’s stock, valued at $27,636,646.80. The trade was a 0.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chin Yin Ong sold 48,000 shares of Grab stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $3.55, for a total value of $170,400.00. Following the completion of the transaction, the insider directly owned 3,781,306 shares of the company’s stock, valued at $13,423,636.30. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,156,819 shares of company stock valued at $4,245,017 over the last 90 days. 3.60% of the stock is currently owned by insiders.
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.
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