SEB Asset Management AB Acquires Shares of 497,103 Grab Holdings Limited $GRAB

SEB Asset Management AB bought a new position in shares of Grab Holdings Limited (NASDAQ:GRAB) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 497,103 shares of the company’s stock, valued at approximately $1,819,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of GRAB. Invesco Ltd. increased its holdings in Grab by 24.9% in the 3rd quarter. Invesco Ltd. now owns 79,797,848 shares of the company’s stock valued at $480,383,000 after buying an additional 15,916,063 shares during the period. Marshall Wace LLP increased its stake in Grab by 49.2% in the fourth quarter. Marshall Wace LLP now owns 72,453,397 shares of the company’s stock valued at $361,542,000 after acquiring an additional 23,891,108 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Grab by 1.6% in the fourth quarter. JPMorgan Chase & Co. now owns 56,669,014 shares of the company’s stock valued at $282,778,000 after acquiring an additional 878,966 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Grab by 58.0% during the first quarter. Assenagon Asset Management S.A. now owns 54,906,371 shares of the company’s stock valued at $200,957,000 after purchasing an additional 20,152,535 shares in the last quarter. Finally, State Street Corp lifted its stake in Grab by 5.7% during the fourth quarter. State Street Corp now owns 45,938,139 shares of the company’s stock worth $229,231,000 after purchasing an additional 2,466,572 shares during the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Trading Down 1.5%

Shares of GRAB stock opened at $3.30 on Friday. Grab Holdings Limited has a 1-year low of $3.18 and a 1-year high of $6.62. The company has a current ratio of 1.67, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. The stock has a market cap of $13.52 billion, a price-to-earnings ratio of 330.33, a PEG ratio of 1.29 and a beta of 0.87. The stock has a 50-day moving average of $3.58 and a 200-day moving average of $3.91.

Grab (NASDAQ:GRAB) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.01) 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 analyst estimates of $921.71 million. On average, equities research analysts forecast that Grab Holdings Limited will post 0.1 earnings per share for the current year.

Insider Activity

In other news, CEO Anthony Ping Yeow Tan sold 400,000 shares of the stock in a transaction 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 completion of the sale, the chief executive officer directly owned 425,193 shares in the company, valued at $1,492,427.43. This represents a 48.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Alexander Charles Hungate sold 144,093 shares of the stock in a transaction 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 sale, the chief operating officer 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 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. Insiders have sold a total of 1,666,093 shares of company stock worth $6,083,321 in the last 90 days. 3.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GRAB. China Renaissance raised Grab from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a report on Wednesday, May 6th. Barclays dropped their price objective on shares of Grab from $7.00 to $5.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. Zacks Research upgraded shares of Grab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Morgan Stanley reiterated an “overweight” rating and issued a $6.25 price target on shares of Grab in a research note on Tuesday, June 30th. Finally, Mizuho cut their price objective on Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $6.01.

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.