Janney Montgomery Scott LLC trimmed its stake in shares of Grab Holdings Limited (NASDAQ:GRAB – Free Report) by 52.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,739 shares of the company’s stock after selling 248,251 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Grab were worth $826,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in GRAB. Norges Bank purchased a new position in Grab in the fourth quarter valued at $161,484,000. PointState Capital LP increased its holdings in shares of Grab by 411.1% in the 4th quarter. PointState Capital LP now owns 32,555,483 shares of the company’s stock valued at $162,452,000 after acquiring an additional 26,186,329 shares during the last quarter. Marshall Wace LLP raised its position 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 in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Grab by 173.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 34,753,836 shares of the company’s stock worth $173,422,000 after acquiring an additional 22,038,961 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Grab by 24.9% during the third quarter. Invesco Ltd. now owns 79,797,848 shares of the company’s stock worth $480,383,000 after purchasing an additional 15,916,063 shares during the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.
Grab Stock Up 0.3%
Shares of NASDAQ GRAB opened at $3.94 on Tuesday. The stock has a market cap of $16.14 billion, a PE ratio of 394.39, a price-to-earnings-growth ratio of 1.55 and a beta of 0.87. The company has a quick ratio of 1.65, a current ratio of 1.67 and a debt-to-equity ratio of 0.06. Grab Holdings Limited has a 52-week low of $3.18 and a 52-week high of $6.62. The business has a 50-day moving average price of $3.60 and a 200 day moving average price of $3.99.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $6.25 price target on shares of Grab in a report on Tuesday, June 30th. Zacks Research upgraded shares of Grab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. JPMorgan Chase & Co. lowered their target price on shares of Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a report on Tuesday, May 5th. Mizuho dropped their target price on shares of Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. Finally, Weiss Ratings upgraded shares of Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $6.01.
Read Our Latest Analysis on GRAB
Insiders Place Their Bets
In other news, CEO Anthony Ping Yeow Tan sold 400,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $3.51, for a total transaction of $1,404,000.00. Following the transaction, the chief executive officer directly owned 425,193 shares in the company, valued at approximately $1,492,427.43. This trade represents a 48.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Philipp Wolfgang Josef Kandal sold 30,000 shares of Grab stock in a transaction on Monday, June 15th. The shares were sold at an average price of $3.53, for a total transaction of $105,900.00. Following the completion of the transaction, the insider directly owned 4,065,430 shares in the company, valued at $14,350,967.90. The trade was a 0.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 1,366,093 shares of company stock valued at $4,912,921. 3.60% of the stock is owned by insiders.
About Grab
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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