SG Americas Securities LLC Has $35.88 Million Position in Grab Holdings Limited $GRAB

SG Americas Securities LLC grew its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 111.3% during the 1st quarter, HoldingsChannel reports. The fund owned 9,804,355 shares of the company’s stock after acquiring an additional 5,164,323 shares during the period. SG Americas Securities LLC’s holdings in Grab were worth $35,884,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GRAB. Integrated Wealth Concepts LLC increased its position in Grab by 201.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 35,386 shares of the company’s stock worth $160,000 after purchasing an additional 23,639 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Grab by 6.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,231,195 shares of the company’s stock valued at $41,817,000 after buying an additional 529,433 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Grab by 6.2% in the 1st quarter. Empowered Funds LLC now owns 52,698 shares of the company’s stock valued at $239,000 after buying an additional 3,090 shares in the last quarter. Focus Partners Wealth acquired a new position in Grab in the first quarter worth approximately $63,000. Finally, Cetera Investment Advisers raised its position in Grab by 11.7% during the second quarter. Cetera Investment Advisers now owns 106,710 shares of the company’s stock valued at $537,000 after acquiring an additional 11,158 shares in the last quarter. 55.52% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Grab

In other news, CEO Anthony Ping Yeow Tan sold 400,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $3.67, for a total value of $1,468,000.00. Following the completion of the sale, the chief executive officer directly owned 25,193 shares of the company’s stock, valued at approximately $92,458.31. This represents a 94.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $3.55, for a total transaction of $170,400.00. Following the completion of the sale, the insider owned 3,781,306 shares in the company, valued at approximately $13,423,636.30. The trade was a 1.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,622,000 shares of company stock worth $5,877,920 over the last three months. 3.60% of the stock is currently owned by insiders.

Grab Trading Down 0.9%

Shares of NASDAQ:GRAB opened at $3.46 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 1.67. The stock’s 50-day moving average is $3.64 and its 200-day moving average is $4.12. The company has a market cap of $14.18 billion, a P/E ratio of 346.35, a P/E/G ratio of 1.58 and a beta of 0.89. Grab Holdings Limited has a 52-week low of $3.18 and a 52-week high of $6.62.

Grab (NASDAQ:GRAB) last posted 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). Grab had a return on equity of 5.79% and a net margin of 10.67%.The business had revenue of $955.00 million for the quarter, compared to analyst estimates of $921.71 million. Equities research analysts predict that Grab Holdings Limited will post 0.08 earnings per share for the current year.

Analysts Set New Price Targets

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