Russell Investments Group Ltd. grew its holdings in Grab Holdings Limited (NASDAQ:GRAB – Free Report) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,583,328 shares of the company’s stock after purchasing an additional 143,780 shares during the period. Russell Investments Group Ltd. owned about 0.43% of Grab worth $66,281,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the business. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of Grab during the fourth quarter worth approximately $25,000. Parallel Advisors LLC grew its position in Grab by 305.5% during the fourth quarter. Parallel Advisors LLC now owns 6,107 shares of the company’s stock valued at $30,000 after purchasing an additional 4,601 shares in the last quarter. Advisory Services Network LLC purchased a new position in Grab during the third quarter valued at approximately $38,000. Larson Financial Group LLC increased its stake in Grab by 162,500.0% in the 3rd quarter. Larson Financial Group LLC now owns 6,504 shares of the company’s stock valued at $39,000 after buying an additional 6,500 shares during the period. Finally, Advocate Investing Services LLC acquired a new position in Grab in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 55.52% of the company’s stock.
Analyst Ratings Changes
GRAB has been the subject of a number of research reports. Morgan Stanley reissued an “overweight” rating and set a $6.25 target price on shares of Grab in a research note on Tuesday, June 30th. JPMorgan Chase & Co. dropped their price target on shares of Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a research note on Tuesday, May 5th. Barclays dropped their price target on shares of Grab from $7.00 to $5.00 and set an “overweight” rating on the stock in a research note on Thursday, July 9th. Mizuho cut their price objective on Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Grab in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Grab has a consensus rating of “Moderate Buy” and an average target price of $6.01.
Grab Trading Down 2.2%
NASDAQ:GRAB opened at $3.62 on Friday. The stock’s 50 day moving average price is $3.60 and its 200 day moving average price is $3.79. Grab Holdings Limited has a 52 week low of $3.18 and a 52 week high of $6.62. The company has a market capitalization of $14.83 billion, a P/E ratio of 60.34, a P/E/G ratio of 0.95 and a beta of 0.89. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.51 and a current ratio of 1.52.
Grab (NASDAQ:GRAB – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. The firm had revenue of $997.00 million for the quarter, compared to analyst estimates of $994.97 million. Grab had a net margin of 15.97% and a return on equity of 8.83%. On average, research analysts forecast that Grab Holdings Limited will post 0.13 EPS for the current fiscal year.
Insider Activity at Grab
In other news, insider Chin Yin Ong sold 48,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $3.55, for a total transaction of $170,400.00. Following the completion of the sale, the insider owned 3,781,306 shares in the company, valued at approximately $13,423,636.30. This represents a 1.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Peter Henry Oey sold 50,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $3.53, for a total value of $176,500.00. Following the transaction, the chief financial officer directly owned 6,950,165 shares in the company, valued at approximately $24,534,082.45. This represents a 0.71% 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 a total of 1,586,093 shares of company stock worth $5,780,881 over the last quarter. 3.60% of the stock is currently owned by corporate insiders.
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.
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