Assenagon Asset Management S.A. Sells 23,195,885 Shares of Grab Holdings Limited $GRAB

Assenagon Asset Management S.A. trimmed its holdings in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 53.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,025,535 shares of the company's stock after selling 23,195,885 shares during the quarter. Assenagon Asset Management S.A. owned 0.49% of Grab worth $62,279,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in Grab by 13.4% in the 2nd quarter. Principal Financial Group Inc. now owns 24,289,581 shares of the company's stock worth $91,572,000 after purchasing an additional 2,867,458 shares in the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in shares of Grab in the second quarter worth about $10,119,000. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Grab by 17.0% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,041,490 shares of the company's stock worth $7,696,000 after acquiring an additional 296,256 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Grab by 20.9% in the second quarter. Hsbc Holdings PLC now owns 17,877,290 shares of the company's stock worth $67,475,000 after acquiring an additional 3,090,656 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Grab by 16.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 17,687,253 shares of the company's stock worth $68,200,000 after acquiring an additional 2,486,750 shares in the last quarter. Institutional investors own 55.52% of the company's stock.

Grab Stock Down 2.0%

NASDAQ GRAB opened at $2.94 on Friday. Grab Holdings Limited has a twelve month low of $2.74 and a twelve month high of $6.24. The stock has a market cap of $12.05 billion, a PE ratio of 49.01, a PEG ratio of 0.53 and a beta of 0.91. The firm has a 50-day simple moving average of $3.26 and a 200 day simple moving average of $3.51. 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 - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.01. Grab had a return on equity of 8.83% and a net margin of 15.97%. The firm had revenue of $997.00 million for the quarter, compared to analyst estimates of $994.97 million. On average, research analysts forecast that Grab Holdings Limited will post 0.14 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Peter Henry Oey sold 50,000 shares of the firm's stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $2.90, for a total value of $145,000.00. Following the completion of the transaction, the chief financial officer directly owned 6,803,470 shares of the company's stock, valued at $19,730,063. This trade represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Alexander Hungate purchased 299,571 shares of the firm's stock in a transaction on Monday, September 21st. The shares were acquired at an average price of $2.89 per share, for a total transaction of $865,760.19. Following the purchase, the chief operating officer directly owned 6,411,550 shares of the company's stock, valued at approximately $18,529,379.50. This represents a 4.90% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 819,349 shares of company stock valued at $2,865,355 in the last ninety days. 3.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GRAB shares. Zacks Research upgraded shares of Grab from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 6th. Morgan Stanley reiterated an "overweight" rating and set a $6.25 price objective on shares of Grab in a research report on Tuesday, June 30th. KeyCorp set a $7.00 target price on Grab in a report on Wednesday, September 16th. Benchmark restated a "buy" rating on shares of Grab in a report on Tuesday, August 4th. Finally, Weiss Ratings cut Grab from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, August 17th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $6.11.

Grab Company Profile

Grab Holdings Limited is a Singapore-based technology company that operates a superapp serving consumers, drivers, merchants and businesses across Southeast Asia. Its platform connects users with everyday services through a single digital application.

The company's main businesses include mobility services such as ride-hailing and taxi bookings, food and grocery delivery, and digital payments. Grab also provides financial services, including digital wallets, lending, insurance and other financial products, subject to local regulations.

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