Grab Holdings Limited $GRAB Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC decreased its stake in Grab Holdings Limited (NASDAQ:GRAB) by 90.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,947 shares of the company’s stock after selling 427,999 shares during the period. Lazard Asset Management LLC’s holdings in Grab were worth $165,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Grab during the fourth quarter worth about $161,484,000. PointState Capital LP boosted its holdings in Grab by 411.1% in the fourth quarter. PointState Capital LP now owns 32,555,483 shares of the company’s stock worth $162,452,000 after purchasing an additional 26,186,329 shares during the period. Marshall Wace LLP boosted its holdings in shares of Grab by 49.2% in the 4th quarter. Marshall Wace LLP now owns 72,453,397 shares of the company’s stock valued at $361,542,000 after buying an additional 23,891,108 shares during the period. Assenagon Asset Management S.A. boosted its stake in Grab by 58.0% in 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 acquiring an additional 20,152,535 shares during the period. Finally, Invesco Ltd. grew its stake in Grab by 24.9% during the 3rd quarter. Invesco Ltd. now owns 79,797,848 shares of the company’s stock worth $480,383,000 after buying an additional 15,916,063 shares during the last quarter. 55.52% of the stock is owned by institutional investors and hedge funds.

Grab Stock Performance

Shares of GRAB stock opened at $3.66 on Friday. Grab Holdings Limited has a fifty-two week low of $3.18 and a fifty-two week high of $6.62. The stock’s 50-day moving average is $3.58 and its two-hundred day moving average is $3.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.52 and a quick ratio of 1.65. The firm has a market cap of $15.00 billion, a P/E ratio of 61.01, a PEG ratio of 0.91 and a beta of 0.89.

Grab (NASDAQ:GRAB) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.01. The business had revenue of $997.00 million during the quarter, compared to analyst estimates of $994.97 million. Grab had a return on equity of 8.83% and a net margin of 15.97%. Analysts predict that Grab Holdings Limited will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Grab

In other Grab news, CFO Peter Henry Oey sold 50,000 shares of Grab stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $3.53, for a total value of $176,500.00. Following the completion of the sale, the chief financial officer directly owned 6,950,165 shares in the company, valued at $24,534,082.45. The trade was a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 Grab stock in a transaction that occurred on Tuesday, June 23rd. The shares were 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 owned 6,254,023 shares of the company’s stock, valued at $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 sold a total of 1,666,093 shares of company stock worth $6,084,081 in the last ninety days. Insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on GRAB shares. Morgan Stanley restated an “overweight” rating and issued a $6.25 target price on shares of Grab in a research report on Tuesday, June 30th. Benchmark reaffirmed a “buy” rating on shares of Grab in a report on Tuesday. China Renaissance raised Grab from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a report on Wednesday, May 6th. Barclays cut their price objective on Grab from $7.00 to $5.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. Finally, Mizuho reduced their target price on Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Grab presently has a consensus rating of “Moderate Buy” and a consensus 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.