M&T Bank Corp Acquires 152,591 Shares of Grab Holdings Limited $GRAB

M&T Bank Corp lifted its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 980.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 168,147 shares of the company’s stock after acquiring an additional 152,591 shares during the quarter. M&T Bank Corp’s holdings in Grab were worth $839,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisory Services Network LLC bought a new position 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 during the period. 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 during the period. 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 during the period. Finally, Abound Financial LLC bought a new position in shares of Grab during the 3rd quarter worth approximately $60,000. 55.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GRAB has been the subject of several recent research reports. Weiss Ratings upgraded Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. Mizuho reduced their price target on Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. Zacks Research downgraded Grab from a “hold” rating to a “strong sell” rating in a research note on Monday, May 4th. Benchmark restated a “buy” rating on shares of Grab in a research note on Thursday, February 12th. Finally, HSBC upgraded Grab from a “hold” rating to a “buy” rating and set a $6.20 price target for the company in a research note on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $6.19.

Grab Stock Performance

GRAB opened at $3.72 on Monday. The business has a fifty day simple moving average of $3.84 and a 200 day simple moving average of $4.60. The company has a market capitalization of $15.24 billion, a PE ratio of 372.37, a price-to-earnings-growth ratio of 1.69 and a beta of 0.93. Grab Holdings Limited has a 1 year low of $3.48 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.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). The firm had revenue of $955.00 million during the quarter, compared to the consensus estimate of $921.71 million. Grab had a net margin of 10.67% and a return on equity of 5.79%. Research analysts expect that Grab Holdings Limited will post 0.08 EPS for the current year.

Insider Transactions at Grab

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 38,000 shares of Grab stock in a transaction on Monday, May 4th. The shares were sold at an average price of $3.59, for a total value of $136,420.00. Following the completion of the transaction, the insider directly owned 3,822,988 shares of the company’s stock, valued at $13,724,526.92. This represents a 0.98% 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 590,819 shares of company stock worth $2,193,077. Corporate insiders own 3.60% of the company’s stock.

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.