BNP Paribas Financial Markets Sells 1,838,295 Shares of Grab Holdings Limited $GRAB

Key Points

• BNP Paribas Financial Markets reduced its stake in Grab by 8.2%, selling 1,838,295 shares and now holds 20,708,548 shares (about 0.51% of the company) valued at roughly $124.7 million per its latest SEC filing.
• Other institutions were net buyers: Citigroup added 17,160,661 shares to reach 32,398,782, JPMorgan increased its stake to 60,455,589 shares, and Norges Bank opened a new position of about $175.2 million, leaving institutional investors owning 55.52% of Grab.
• Grab reported $0.04 EPS for the quarter (beating the $0.01 estimate) with revenue of $906M (below estimates), and analysts hold a consensus Buy rating with an average price target of $6.47 after several recent upgrades.

BNP Paribas Financial Markets lessened its stake in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 8.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,708,548 shares of the company's stock after selling 1,838,295 shares during the quarter. BNP Paribas Financial Markets owned about 0.51% of Grab worth $124,665,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Grab during the 2nd quarter worth about $175,192,000. Citigroup Inc. boosted its stake in Grab by 112.6% during the 3rd quarter. Citigroup Inc. now owns 32,398,782 shares of the company's stock worth $195,041,000 after acquiring an additional 17,160,661 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Grab by 20.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 60,455,589 shares of the company's stock worth $304,092,000 after acquiring an additional 10,428,014 shares during the last quarter. Invesco Ltd. grew its holdings in Grab by 11.8% during the second quarter. Invesco Ltd. now owns 63,881,785 shares of the company's stock valued at $321,325,000 after purchasing an additional 6,767,182 shares during the period. Finally, HRT Financial LP grew its holdings in Grab by 533.2% during the second quarter. HRT Financial LP now owns 7,493,486 shares of the company's stock valued at $37,692,000 after purchasing an additional 6,310,006 shares during the period. Institutional investors and hedge funds own 55.52% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. HSBC upgraded shares of Grab from a "hold" rating to a "buy" rating and set a $6.20 target price on the stock in a report on Friday, January 16th. Sanford C. Bernstein restated an "outperform" rating and issued a $5.80 price objective on shares of Grab in a research report on Monday, January 26th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Grab in a research note on Thursday, January 22nd. Wall Street Zen upgraded Grab from a "sell" rating to a "hold" rating in a report on Friday, January 23rd. Finally, Benchmark restated a "buy" rating on shares of Grab in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $6.47.

Grab Price Performance

Shares of GRAB opened at $3.89 on Thursday. The company has a quick ratio of 1.73, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. Grab Holdings Limited has a twelve month low of $3.36 and a twelve month high of $6.62. The stock has a market capitalization of $15.67 billion, a P/E ratio of 129.71, a P/E/G ratio of 0.87 and a beta of 0.93. The company has a 50 day moving average of $4.41 and a 200-day moving average of $5.15.

Grab (NASDAQ:GRAB - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.03. The business had revenue of $906.00 million for the quarter, compared to analyst estimates of $942.08 million. Grab had a net margin of 7.92% and a return on equity of 4.09%. As a group, equities research analysts forecast that Grab Holdings Limited will post 0.05 EPS for the current fiscal year.

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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