Norges Bank Invests $161.48 Million in Grab Holdings Limited $GRAB

Norges Bank bought a new position in shares of Grab Holdings Limited (NASDAQ:GRAB) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 32,361,499 shares of the company’s stock, valued at approximately $161,484,000. Norges Bank owned 0.80% of Grab as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in GRAB. Signaturefd LLC increased its stake in shares of Grab by 64.6% during the fourth quarter. Signaturefd LLC now owns 6,479 shares of the company’s stock worth $32,000 after buying an additional 2,543 shares during the period. Advisory Services Network LLC purchased a new stake in shares of Grab during the third quarter worth approximately $38,000. Larson Financial Group LLC increased its stake in shares of Grab by 162,500.0% during the third quarter. Larson Financial Group LLC now owns 6,504 shares of the company’s stock worth $39,000 after buying an additional 6,500 shares during the period. Global Retirement Partners LLC increased its stake in shares of Grab by 66.9% during the fourth quarter. Global Retirement Partners LLC now owns 8,516 shares of the company’s stock worth $42,000 after buying an additional 3,414 shares during the period. Finally, Allworth Financial LP increased its stake in shares of Grab by 70.9% during the third quarter. Allworth Financial LP now owns 8,085 shares of the company’s stock worth $49,000 after buying an additional 3,354 shares during the period. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Grab Stock Performance

Shares of GRAB opened at $3.41 on Thursday. 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 firm has a market cap of $13.97 billion, a PE ratio of 341.34, a price-to-earnings-growth ratio of 1.63 and a beta of 0.89. The company’s 50 day simple moving average is $3.71 and its 200-day simple moving average is $4.30. Grab Holdings Limited has a 12-month low of $3.38 and a 12-month high of $6.62.

Grab (NASDAQ:GRAB) last announced its 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). The business had revenue of $955.00 million for the quarter, compared to analysts’ expectations of $921.71 million. Grab had a return on equity of 5.79% and a net margin of 10.67%. As a group, equities analysts predict that Grab Holdings Limited will post 0.08 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GRAB shares. JPMorgan Chase & Co. cut their target price on shares of Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a research note on Tuesday, May 5th. Zacks Research lowered shares of 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. 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. Finally, Morgan Stanley set a $5.90 target price on shares of Grab in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $6.19.

Insider Buying and Selling at Grab

In other news, CFO Peter Henry Oey sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $3.92, for a total transaction of $196,000.00. Following the transaction, the chief financial officer directly owned 7,050,165 shares in the company, valued at approximately $27,636,646.80. This trade represents a 0.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Philipp Wolfgang Josef Kandal sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $3.92, for a total transaction of $117,600.00. Following the transaction, the insider owned 4,145,430 shares in the company, valued at approximately $16,250,085.60. This trade represents a 0.72% 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. In the last three months, insiders have sold 1,118,819 shares of company stock valued at $4,114,677. 3.60% of the stock is currently owned by insiders.

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.