Swedbank AB Boosts Holdings in Grab Holdings Limited $GRAB

Swedbank AB lifted its stake in Grab Holdings Limited (NASDAQ:GRAB) by 37.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 772,503 shares of the company’s stock after buying an additional 210,549 shares during the period. Swedbank AB’s holdings in Grab were worth $3,855,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Allianz Asset Management GmbH grew its position in shares of Grab by 83.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 967,530 shares of the company’s stock valued at $5,825,000 after buying an additional 439,748 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of Grab by 9.8% in the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 11,821,595 shares of the company’s stock valued at $58,928,000 after acquiring an additional 1,050,619 shares during the period. Mediolanum International Funds Ltd increased its holdings in shares of Grab by 131.5% in the 3rd quarter. Mediolanum International Funds Ltd now owns 1,697,761 shares of the company’s stock valued at $10,373,000 after acquiring an additional 964,475 shares during the period. Altimeter Capital Management LP acquired a new position in shares of Grab in the 3rd quarter valued at $1,764,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Grab by 68.3% in the 3rd quarter. Principal Financial Group Inc. now owns 10,220,905 shares of the company’s stock valued at $61,530,000 after acquiring an additional 4,149,040 shares during the period. 55.52% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Grab

In related news, CEO Anthony Ping Yeow Tan sold 400,000 shares of Grab stock in a transaction on Monday, May 11th. The shares were sold at an average price of $3.67, for a total value of $1,468,000.00. Following the transaction, the chief executive officer directly owned 25,193 shares in the company, valued at $92,458.31. This trade represents a 94.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chin Yin Ong sold 38,000 shares of Grab stock in a transaction on Monday, May 4th. The shares were sold at an average price of $3.59, for a total transaction of $136,420.00. Following the completion of the transaction, the insider owned 3,822,988 shares in the company, valued at approximately $13,724,526.92. This trade represents a 0.98% 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. Insiders sold a total of 1,070,819 shares of company stock worth $3,944,277 over the last quarter. 3.60% of the stock is currently owned by corporate insiders.

Grab Stock Performance

Shares of Grab stock opened at $3.59 on Wednesday. The firm’s fifty day simple moving average is $3.72 and its 200-day simple moving average is $4.39. Grab Holdings Limited has a 12 month low of $3.39 and a 12 month high of $6.62. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.67 and a quick ratio of 1.65. The stock has a market capitalization of $14.71 billion, a price-to-earnings ratio of 359.36, a PEG ratio of 1.59 and a beta of 0.93.

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 analysts’ consensus estimates of $0.02 by ($0.03). Grab had a net margin of 10.67% and a return on equity of 5.79%. The firm had revenue of $955.00 million during the quarter, compared to analysts’ expectations of $921.71 million. As a group, equities analysts forecast that Grab Holdings Limited will post 0.08 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GRAB shares. Zacks Research cut shares of Grab from a “hold” rating to a “strong sell” rating in a report on Monday, May 4th. Morgan Stanley set a $5.90 target price on shares of Grab in a report on Wednesday, May 6th. 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 report on Tuesday, May 5th. 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 report on Wednesday, May 6th. Finally, 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 report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.19.

Grab Company 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.