Public Employees Retirement System of Ohio trimmed its position in Grab Holdings Limited (NASDAQ:GRAB – Free Report) by 44.4% during the first quarter, Holdings Channel.com reports. The firm owned 394,793 shares of the company’s stock after selling 315,799 shares during the period. Public Employees Retirement System of Ohio’s holdings in Grab were worth $1,445,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of GRAB. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in Grab in the fourth quarter valued at $25,000. Montag A & Associates Inc. purchased a new stake in Grab during the 1st quarter worth about $27,000. Parallel Advisors LLC boosted its position in shares of Grab by 305.5% during the 4th quarter. Parallel Advisors LLC now owns 6,107 shares of the company’s stock worth $30,000 after acquiring an additional 4,601 shares in the last quarter. Signaturefd LLC boosted its position 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. Finally, Advocate Investing Services LLC purchased a new position in shares of Grab in the 4th quarter valued at about $35,000. 55.52% of the stock is owned by hedge funds and other institutional investors.
Grab Price Performance
Shares of NASDAQ:GRAB opened at $3.50 on Monday. Grab Holdings Limited has a 1-year low of $3.18 and a 1-year high of $6.62. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.67 and a quick ratio of 1.65. The stock has a market cap of $14.34 billion, a P/E ratio of 350.35, a P/E/G ratio of 1.34 and a beta of 0.89. The firm has a fifty day moving average price of $3.57 and a 200 day moving average price of $3.84.
Insider Activity
In other Grab news, COO Alexander Charles Hungate sold 144,093 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $3.45, for a total transaction of $497,120.85. Following the completion of the sale, the chief operating officer directly owned 6,254,023 shares of the company’s stock, valued at approximately $21,576,379.35. This trade represents a 2.25% decrease in their position. The transaction 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, insider Chin Yin Ong sold 48,000 shares of Grab stock in a transaction that occurred 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 owned 3,781,306 shares in the company, valued at $13,423,636.30. This trade represents a 1.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 1,628,093 shares of company stock valued at $5,946,901. Insiders own 3.60% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on GRAB shares. Barclays cut their target price on Grab from $7.00 to $5.00 and set an “overweight” rating on the stock in a research report on Thursday, July 9th. 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 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. Zacks Research raised shares of Grab from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Finally, Mizuho reduced their price objective on shares of Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a research report on Tuesday, May 5th. 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $6.01.
Read Our Latest Analysis on Grab
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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