Allianz Asset Management GmbH Raises Stake in Grab Holdings Limited $GRAB

Key Points

• Allianz Asset Management increased its Grab stake by 28.1% in the second quarter, adding 453,813 shares to own 2.07 million shares valued at approximately $7.8 million. Institutional investors collectively own 55.52% of Grab.
• Grab reported quarterly earnings of $0.06 per share, beating estimates by $0.01, while revenue of $997 million slightly exceeded expectations. The company has a 52-week trading range of $3.18 to $6.62 and recently traded at $3.25, down 5%.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $6.01, although targets and ratings have varied. Corporate insiders sold 1.76 million shares worth about $6.4 million during the quarter, largely through pre-arranged trading plans.

Allianz Asset Management GmbH grew its position in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 28.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,069,000 shares of the company's stock after purchasing an additional 453,813 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.05% of Grab worth $7,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. boosted its holdings in Grab by 6.4% in the 2nd quarter. BlackRock Inc. now owns 156,175,807 shares of the company's stock worth $588,783,000 after buying an additional 9,357,389 shares during the period. Invesco Ltd. lifted its holdings in Grab by 24.9% in the 3rd quarter. Invesco Ltd. now owns 79,797,848 shares of the company's stock worth $480,383,000 after purchasing an additional 15,916,063 shares in the last quarter. Marshall Wace LLP lifted its holdings in Grab by 49.2% in the 4th quarter. Marshall Wace LLP now owns 72,453,397 shares of the company's stock worth $361,542,000 after purchasing an additional 23,891,108 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Grab by 1.6% in the 4th quarter. JPMorgan Chase & Co. now owns 56,669,014 shares of the company's stock worth $282,778,000 after purchasing an additional 878,966 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in Grab by 58.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 54,906,371 shares of the company's stock worth $200,957,000 after purchasing an additional 20,152,535 shares during the period. 55.52% of the stock is owned by hedge funds and other institutional investors.

Grab Stock Down 5.0%

NASDAQ GRAB opened at $3.25 on Wednesday. The stock has a 50 day moving average price of $3.61 and a 200-day moving average price of $3.68. Grab Holdings Limited has a one year low of $3.18 and a one year high of $6.62. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.51 and a current ratio of 1.52. The company has a market capitalization of $13.32 billion, a P/E ratio of 54.18, a P/E/G ratio of 0.90 and a beta of 0.89.

Grab (NASDAQ:GRAB - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. The company had revenue of $997.00 million for the quarter, compared to analysts' expectations of $994.97 million. Grab had a net margin of 15.97% and a return on equity of 8.83%. As a group, equities analysts predict that Grab Holdings Limited will post 0.13 EPS for the current fiscal year.

Insider Buying and Selling at Grab

In other news, CEO Ping Tan sold 400,000 shares of the business's stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $3.91, for a total value of $1,564,000.00. Following the sale, the chief executive officer directly owned 28,498 shares in the company, valued at $111,427.18. The trade was a 93.35% 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 Ong sold 38,000 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $3.61, for a total transaction of $137,180.00. Following the sale, the insider owned 3,670,611 shares in the company, valued at $13,250,905.71. This represents a 1.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 1,763,442 shares of company stock valued at $6,405,495. Corporate insiders own 3.60% of the company's stock.

Analyst Ratings Changes

GRAB has been the subject of a number of research analyst reports. Zacks Research raised shares of Grab from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 2nd. Barclays lowered their target price on shares of Grab from $7.00 to $5.00 and set an "overweight" rating on the stock in a report on Thursday, July 9th. Weiss Ratings cut shares of Grab from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, August 17th. Benchmark reaffirmed a "buy" rating on shares of Grab in a research note on Tuesday, August 4th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $6.25 price target on shares of Grab in a report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $6.01.

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.

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