Legal & General Group Plc Decreases Stake in Grab Holdings Limited $GRAB

Legal & General Group Plc reduced its position in Grab Holdings Limited (NASDAQ:GRAB) by 8.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,521,528 shares of the company’s stock after selling 1,406,174 shares during the period. Legal & General Group Plc’s holdings in Grab were worth $72,462,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GRAB. Assenagon Asset Management S.A. boosted its position in Grab by 173.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 34,753,836 shares of the company’s stock valued at $173,422,000 after buying an additional 22,038,961 shares during the last quarter. Citigroup Inc. raised its stake in shares of Grab by 112.6% in the 3rd quarter. Citigroup Inc. now owns 32,398,782 shares of the company’s stock valued at $195,041,000 after purchasing an additional 17,160,661 shares in the last quarter. Invesco Ltd. raised its stake in shares of 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 purchasing an additional 15,916,063 shares in the last quarter. Two Creeks Capital Management LP acquired a new stake in shares of Grab in the 3rd quarter valued at about $58,170,000. Finally, Ameriprise Financial Inc. raised its stake in shares of Grab by 1,908.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,662,747 shares of the company’s stock valued at $34,090,000 after purchasing an additional 5,380,737 shares in the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Grab

In related news, insider Philipp Wolfgang Josef Kandal sold 30,000 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $3.54, for a total transaction of $106,200.00. Following the sale, the insider owned 4,095,430 shares in the company, valued at $14,497,822.20. This represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chin Yin Ong sold 48,000 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $3.55, for a total transaction of $170,400.00. Following the sale, the insider owned 3,781,306 shares in the company, valued at approximately $13,423,636.30. This trade represents a 1.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,118,819 shares of company stock worth $4,114,677 in the last ninety days. Insiders own 3.60% of the company’s stock.

Grab Price Performance

GRAB opened at $3.54 on Friday. The firm has a market cap of $14.51 billion, a price-to-earnings ratio of 354.35, a price-to-earnings-growth ratio of 1.61 and a beta of 0.93. Grab Holdings Limited has a fifty-two week low of $3.39 and a fifty-two week high of $6.62. The company’s 50-day moving average price is $3.71 and its 200 day moving average price is $4.36. The company has a quick ratio of 1.65, a current ratio of 1.67 and a debt-to-equity ratio of 0.06.

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Benchmark restated a “buy” rating on shares of Grab in a research note on Thursday, February 12th. Weiss Ratings upgraded shares of Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Zacks Research lowered shares of Grab from a “hold” rating to a “strong sell” rating in a research note on Monday, May 4th. China Renaissance upgraded shares of Grab from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a research note on Wednesday, May 6th. Finally, Mizuho cut their target price on shares of Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Grab currently has an average rating of “Moderate Buy” and a consensus price target of $6.19.

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.