ANTIPODES PARTNERS Ltd Acquires New Shares in Grab Holdings Limited $GRAB

Key Points

• ANTIPODES PARTNERS Ltd acquired 2.68 million Grab shares during the second quarter, valued at approximately $10.1 million, while institutional investors collectively owned 55.52% of the company.
• Analysts maintain a generally positive outlook, with Grab carrying a consensus “Moderate Buy” rating and an average price target of $6.01, despite recent target reductions from Barclays and Mizuho.
• Grab exceeded quarterly expectations, reporting $0.06 in EPS versus a $0.05 estimate and $997 million in revenue; however, insiders sold about 1.59 million shares worth $5.78 million over the past 90 days.

ANTIPODES PARTNERS Ltd acquired a new position in Grab Holdings Limited (NASDAQ:GRAB - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,684,160 shares of the company's stock, valued at approximately $10,119,000. ANTIPODES PARTNERS Ltd owned 0.07% of Grab at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. OVERSEA CHINESE BANKING Corp Ltd raised 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 purchasing an additional 1,050,619 shares in the last quarter. Jennison Associates LLC bought a new position in shares of Grab during the fourth quarter valued at approximately $18,919,000. Principal Financial Group Inc. boosted its stake in shares of Grab by 28.9% during the fourth quarter. Principal Financial Group Inc. now owns 13,177,391 shares of the company's stock valued at $65,755,000 after purchasing an additional 2,956,486 shares in the last quarter. DNB Asset Management AS increased its holdings in Grab by 52.4% during the fourth quarter. DNB Asset Management AS now owns 2,949,398 shares of the company's stock valued at $14,717,000 after buying an additional 1,014,166 shares during the period. Finally, WFM ASIA BVI Ltd increased its holdings in Grab by 12.5% during the fourth quarter. WFM ASIA BVI Ltd now owns 37,675,992 shares of the company's stock valued at $188,003,000 after buying an additional 4,194,477 shares during the period. 55.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Weiss Ratings restated a "hold (c-)" rating on shares of Grab in a report on Monday, August 3rd. Zacks Research upgraded Grab from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 2nd. Barclays reduced their price target on Grab from $7.00 to $5.00 and set an "overweight" rating for the company in a research report on Thursday, July 9th. Mizuho decreased their price objective on Grab from $7.00 to $6.00 and set an "outperform" rating for the company in a research note on Tuesday, May 5th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $6.25 price objective on shares of Grab in a research report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $6.01.

Insider Buying and Selling at Grab

In related news, CEO Anthony Ping Yeow Tan sold 400,000 shares of Grab stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $3.62, for a total value of $1,448,000.00. Following the completion of the transaction, the chief executive officer owned 428,498 shares in the company, valued at $1,551,162.76. The trade was a 48.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 company's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $3.53, for a total value of $105,900.00. Following the completion of the transaction, the insider directly owned 4,065,430 shares of the company's stock, valued at $14,350,967.90. The trade was a 0.73% decrease in their position. 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 ninety days, insiders have sold 1,586,093 shares of company stock worth $5,780,881. 3.60% of the stock is currently owned by insiders.

Grab Stock Performance

Shares of Grab stock opened at $3.62 on Friday. The company has a 50 day moving average price of $3.60 and a 200 day moving average price of $3.79. The firm has a market capitalization of $14.83 billion, a P/E ratio of 60.34, a PEG ratio of 0.95 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. The company has a quick ratio of 1.51, a current ratio of 1.52 and a debt-to-equity ratio of 0.06.

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

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.

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