Bank of America Corp DE Grows Position in Grab Holdings Limited $GRAB

Key Points

• Bank of America increased its Grab stake by 80.2% in the first quarter, adding 10.7 million shares to own nearly 24 million shares, or 0.59% of the company. Institutional investors collectively own 55.52% of Grab.
• Grab reported quarterly earnings of $0.06 per share, exceeding estimates of $0.05, while revenue of $997 million slightly surpassed expectations. Analysts expect full-year earnings of $0.13 per share.
• Analysts maintain a generally positive outlook, with Grab holding a consensus “Moderate Buy” rating and an average price target of $6.01, compared with shares opening at $3.66. Meanwhile, company insiders sold more than 1.66 million shares over the past quarter under pre-arranged trading plans.

Bank of America Corp DE raised its position in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 80.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,993,894 shares of the company's stock after purchasing an additional 10,681,810 shares during the quarter. Bank of America Corp DE owned 0.59% of Grab worth $87,818,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. OVERSEA CHINESE BANKING Corp Ltd grew its stake in Grab by 9.8% in the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 11,821,595 shares of the company's stock worth $58,928,000 after acquiring an additional 1,050,619 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Grab by 98.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,478,218 shares of the company's stock worth $37,316,000 after acquiring an additional 3,711,860 shares in the last quarter. Jennison Associates LLC purchased a new stake in shares of Grab during the fourth quarter valued at about $18,919,000. Principal Financial Group Inc. lifted its position in 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 acquiring an additional 2,956,486 shares during the last quarter. Finally, DNB Asset Management AS boosted its stake in Grab by 52.4% in the fourth quarter. DNB Asset Management AS now owns 2,949,398 shares of the company's stock valued at $14,717,000 after acquiring an additional 1,014,166 shares in the last quarter. Institutional investors own 55.52% of the company's stock.

Insider Transactions at Grab

In other Grab news, COO Alexander Charles Hungate sold 144,093 shares of Grab stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $3.45, for a total transaction of $497,120.85. Following the completion of the sale, the chief operating officer directly owned 6,254,023 shares in the company, valued at approximately $21,576,379.35. The trade was a 2.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Peter Henry Oey sold 50,000 shares of the company's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $3.53, for a total transaction of $176,500.00. Following the completion of the sale, the chief financial officer directly owned 6,950,165 shares in the company, valued at $24,534,082.45. This trade represents a 0.71% 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. Insiders have sold 1,666,093 shares of company stock valued at $6,084,081 over the last quarter. Company insiders own 3.60% of the company's stock.

Grab Stock Performance

Shares of GRAB stock opened at $3.66 on Friday. The business has a fifty day moving average of $3.58 and a 200 day moving average of $3.82. Grab Holdings Limited has a 1 year low of $3.18 and a 1 year high of $6.62. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.52 and a quick ratio of 1.65. The firm has a market capitalization of $15.00 billion, a price-to-earnings ratio of 61.01, a price-to-earnings-growth ratio of 0.91 and a beta of 0.89.

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Benchmark reaffirmed a "buy" rating on shares of Grab in a report on Tuesday. Morgan Stanley reissued an "overweight" rating and issued a $6.25 price target on shares of Grab in a report on Tuesday, June 30th. Weiss Ratings restated a "hold (c-)" rating on shares of Grab in a research note on Monday, August 3rd. China Renaissance raised shares of Grab from a "hold" rating to a "buy" rating and set a $5.00 price objective for the company in a research report on Wednesday, May 6th. Finally, Barclays lowered their target price 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. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Grab currently has a consensus 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.

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