Wellington Management Group LLP Sells 1,754,545 Shares of Grab Holdings Limited $GRAB

Wellington Management Group LLP trimmed its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 2.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,704,469 shares of the company’s stock after selling 1,754,545 shares during the period. Wellington Management Group LLP’s holdings in Grab were worth $285,406,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GRAB. Pitcairn Co. lifted its stake in shares of Grab by 11.0% in the 2nd quarter. Pitcairn Co. now owns 20,964 shares of the company’s stock valued at $105,000 after purchasing an additional 2,080 shares during the last quarter. Adalta Capital Management LLC increased its position in Grab by 2.2% during the third quarter. Adalta Capital Management LLC now owns 100,880 shares of the company’s stock worth $607,000 after buying an additional 2,200 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in Grab by 7.7% during the second quarter. Thrivent Financial for Lutherans now owns 32,099 shares of the company’s stock valued at $161,000 after buying an additional 2,300 shares in the last quarter. Soros Fund Management LLC lifted its position in shares of Grab by 19.7% in the second quarter. Soros Fund Management LLC now owns 14,677 shares of the company’s stock worth $74,000 after buying an additional 2,419 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its stake in shares of Grab by 1.9% during the 4th quarter. Corient Private Wealth LLC now owns 129,144 shares of the company’s stock worth $643,000 after acquiring an additional 2,469 shares in the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

Insiders Place Their Bets

In other Grab news, CEO Anthony Ping Yeow Tan sold 400,000 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $3.62, for a total value of $1,448,000.00. Following the completion of the sale, the chief executive officer directly owned 428,498 shares of the company’s stock, valued at $1,551,162.76. This represents a 48.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 on Friday, August 14th. The stock was sold at an average price of $3.64, for a total transaction of $109,200.00. Following the completion of the sale, the insider owned 3,988,735 shares in the company, valued at $14,518,995.40. This represents a 0.75% 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 have sold a total of 1,618,093 shares of company stock valued at $5,899,681 in the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Grab Price Performance

NASDAQ GRAB opened at $3.61 on Monday. The stock has a 50-day simple moving average of $3.63 and a 200 day simple moving average of $3.73. Grab Holdings Limited has a twelve month low of $3.18 and a twelve month high of $6.62. The stock has a market capitalization of $14.79 billion, a PE ratio of 60.18, a P/E/G ratio of 0.95 and a beta of 0.89. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.51 and a current ratio of 1.52.

Grab (NASDAQ:GRAB) last released its earnings results on Tuesday, August 4th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The firm had revenue of $997.00 million for 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%. Research analysts anticipate that Grab Holdings Limited will post 0.13 EPS for the current year.

Wall Street Analysts Forecast Growth

GRAB has been the topic of a number of recent analyst reports. Zacks Research raised Grab from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. lowered their price target on Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a report on Tuesday, May 5th. Benchmark reissued a “buy” rating on shares of Grab in a research report on Tuesday, August 4th. Barclays reduced their price objective on shares of Grab from $7.00 to $5.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. Finally, Weiss Ratings downgraded shares of Grab from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $6.01.

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.