Amundi Boosts Holdings in Grab Holdings Limited $GRAB

Key Points

• Amundi increased its Grab stake by 13.2% in the first quarter, acquiring 1.37 million additional shares and bringing its holdings to 11.71 million shares valued at approximately $42.9 million. Institutional investors collectively own 55.52% of Grab.
• Grab insiders sold 1.63 million shares worth about $5.95 million over the past three months, including significant sales by CFO Peter Henry Oey and CEO Anthony Tan under pre-arranged Rule 10b5-1 plans.
• Analysts maintain a generally positive outlook, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $6.01 versus its recent price of $3.50. Grab’s latest quarter beat revenue expectations but missed consensus EPS estimates.

Amundi lifted its holdings in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 13.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 11,712,223 shares of the company's stock after acquiring an additional 1,368,365 shares during the quarter. Amundi owned 0.29% of Grab worth $42,867,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of Grab in the fourth quarter worth about $25,000. Montag A & Associates Inc. bought a new position in Grab during the 1st quarter worth approximately $27,000. Parallel Advisors LLC grew its position in Grab by 305.5% during the 4th quarter. Parallel Advisors LLC now owns 6,107 shares of the company's stock worth $30,000 after acquiring an additional 4,601 shares during the last quarter. Signaturefd LLC increased its stake in Grab by 64.6% in the 4th quarter. Signaturefd LLC now owns 6,479 shares of the company's stock worth $32,000 after purchasing an additional 2,543 shares during the period. Finally, Advocate Investing Services LLC purchased a new position in Grab in the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 55.52% of the company's stock.

Insider Activity

In related news, CFO Peter Henry Oey sold 50,000 shares of Grab stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $3.53, for a total transaction of $176,500.00. Following the sale, the chief financial officer directly owned 6,950,165 shares in the company, valued at $24,534,082.45. The trade was a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony Ping Yeow Tan sold 400,000 shares of the company's stock in a transaction on Friday, July 10th. The stock was sold at an average price of $3.91, for a total value of $1,564,000.00. Following the completion of the sale, the chief executive officer directly owned 28,498 shares in the company, valued at approximately $111,427.18. The trade was a 93.35% 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 1,628,093 shares of company stock worth $5,946,901. Company insiders own 3.60% of the company's stock.

Wall Street Analysts Forecast Growth

GRAB has been the subject of a number of analyst reports. Morgan Stanley reissued an "overweight" rating and set a $6.25 price objective on shares of Grab in a research note on Tuesday, June 30th. 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 note on Wednesday, May 6th. Zacks Research upgraded shares of Grab from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 2nd. Barclays dropped their price target on shares of Grab from $7.00 to $5.00 and set an "overweight" rating for the company in a research report on Thursday, July 9th. Finally, Weiss Ratings raised shares of Grab from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $6.01.

Grab Stock Performance

NASDAQ:GRAB opened at $3.50 on Monday. The stock has a market cap of $14.34 billion, a P/E ratio of 350.35, a price-to-earnings-growth ratio of 1.34 and a beta of 0.89. The firm's fifty day simple moving average is $3.57 and its 200 day simple moving average is $3.84. Grab Holdings Limited has a twelve month low of $3.18 and a twelve month high of $6.62. The company has a quick ratio of 1.65, a current ratio of 1.67 and a debt-to-equity ratio of 0.06.

Grab (NASDAQ:GRAB - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.01) EPS 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 company had revenue of $955.00 million during the quarter, compared to the consensus estimate of $921.71 million. As a group, research analysts predict that Grab Holdings Limited will post 0.1 EPS for the current year.

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.

Want to see what other hedge funds are holding GRAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Grab Holdings Limited (NASDAQ:GRAB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source