BlackRock Inc. Raises Holdings in Grab Holdings Limited $GRAB

Key Points

• BlackRock increased its Grab stake by 6.4% in the second quarter, adding 9.36 million shares to own 156.18 million shares, or approximately 3.81% of the company. Institutional investors collectively own 55.52% of Grab.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $6.01. Price targets range from $5.00 to $6.25.
• Grab reported quarterly earnings of $0.06 per share, beating estimates of $0.05, while revenue of $997 million slightly exceeded expectations. The stock opened at $3.48, well below its 52-week high of $6.62.

BlackRock Inc. increased its stake in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 6.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 156,175,807 shares of the company's stock after acquiring an additional 9,357,389 shares during the period. BlackRock Inc. owned about 3.81% of Grab worth $588,783,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Norges Bank acquired a new position in Grab in the fourth quarter valued at approximately $161,484,000. PointState Capital LP lifted its stake in shares of Grab by 411.1% in the 4th quarter. PointState Capital LP now owns 32,555,483 shares of the company's stock valued at $162,452,000 after purchasing an additional 26,186,329 shares during the period. Marshall Wace LLP lifted its stake in shares of Grab by 49.2% in the 4th quarter. Marshall Wace LLP now owns 72,453,397 shares of the company's stock valued at $361,542,000 after purchasing an additional 23,891,108 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Grab by 58.0% during the first quarter. Assenagon Asset Management S.A. now owns 54,906,371 shares of the company's stock worth $200,957,000 after buying an additional 20,152,535 shares in the last quarter. Finally, Invesco Ltd. grew its position in Grab by 24.9% during the third quarter. Invesco Ltd. now owns 79,797,848 shares of the company's stock valued at $480,383,000 after buying an additional 15,916,063 shares during the period. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on GRAB shares. Benchmark reiterated a "buy" rating on shares of Grab in a research report on Tuesday, August 4th. China Renaissance upgraded Grab from a "hold" rating to a "buy" rating and set a $5.00 price target for the company in a research note on Wednesday, May 6th. JPMorgan Chase & Co. reduced their price target on Grab from $5.90 to $5.80 and set an "overweight" rating for the company in a report on Tuesday, May 5th. Zacks Research upgraded Grab from a "strong sell" rating to a "hold" rating in a research report on Tuesday, June 2nd. Finally, Morgan Stanley reissued an "overweight" rating and issued a $6.25 price objective 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 assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $6.01.

Grab Price Performance

GRAB stock opened at $3.48 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.52 and a quick ratio of 1.51. The business has a 50 day simple moving average of $3.62 and a 200-day simple moving average of $3.75. The firm has a market capitalization of $14.26 billion, a PE ratio of 58.01, a price-to-earnings-growth ratio of 0.91 and a beta of 0.89. Grab Holdings Limited has a 1 year low of $3.18 and a 1 year high of $6.62.

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

Insiders Place Their Bets

In other news, COO Alexander Charles Hungate sold 144,093 shares of Grab stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $3.45, for a total transaction of $497,120.85. Following the transaction, the chief operating officer owned 6,254,023 shares in the company, valued at $21,576,379.35. The trade was a 2.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Peter Henry Oey sold 50,000 shares of the business's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $3.60, for a total transaction of $180,000.00. Following the transaction, the chief financial officer directly owned 6,853,470 shares in the company, valued at approximately $24,672,492. The trade was a 0.72% 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 sold 1,666,093 shares of company stock worth $6,070,081. 3.60% of the stock is currently owned by company insiders.

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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