Polar Capital Holdings Plc Buys 1,341,345 Shares of Grab Holdings Limited $GRAB

Polar Capital Holdings Plc raised its stake in Grab Holdings Limited (NASDAQ:GRAB) by 10.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,388,355 shares of the company’s stock after acquiring an additional 1,341,345 shares during the period. Polar Capital Holdings Plc owned approximately 0.36% of Grab worth $71,798,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of GRAB. Parallel Advisors LLC grew its position in shares of 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. Signaturefd LLC boosted its stake in Grab by 64.6% during the fourth quarter. Signaturefd LLC now owns 6,479 shares of the company’s stock valued at $32,000 after buying an additional 2,543 shares during the last quarter. Advocate Investing Services LLC bought a new position in Grab during the fourth quarter valued at approximately $35,000. Steward Partners Investment Advisory LLC grew its holdings in Grab by 128.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,525 shares of the company’s stock valued at $38,000 after buying an additional 4,225 shares in the last quarter. Finally, Advisory Services Network LLC bought a new stake in Grab in the 3rd quarter worth approximately $38,000. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Morgan Stanley set a $5.90 price objective on Grab in a report on Wednesday, May 6th. Weiss Ratings raised shares of Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. China Renaissance upgraded shares of Grab from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research report on Wednesday, May 6th. JPMorgan Chase & Co. dropped their price objective on shares of Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a research note on Tuesday, May 5th. Finally, Zacks Research upgraded shares of Grab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $6.19.

Insiders Place Their Bets

In related news, insider Chin Yin Ong sold 38,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $3.43, for a total transaction of $130,340.00. Following the completion of the sale, the insider directly owned 3,743,306 shares of the company’s stock, valued at approximately $12,839,539.58. This trade represents a 1.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Peter Henry Oey sold 50,000 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $3.54, for a total value of $177,000.00. Following the transaction, the chief financial officer owned 7,000,165 shares of the company’s stock, valued at approximately $24,780,584.10. The trade was a 0.71% decrease in their position. 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 have sold 1,556,819 shares of company stock valued at $5,649,017. Corporate insiders own 3.60% of the company’s stock.

Grab Stock Performance

NASDAQ GRAB opened at $3.49 on Wednesday. The business’s 50 day moving average price is $3.66 and its 200-day moving average price is $4.19. Grab Holdings Limited has a fifty-two week low of $3.18 and a fifty-two week high of $6.62. The company has a market cap of $14.30 billion, a P/E ratio of 349.35, a P/E/G ratio of 1.57 and a beta of 0.89. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 1.67.

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

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.