Cercano Management LLC bought a new position in Grab Holdings Limited (NASDAQ:GRAB - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,600,000 shares of the company's stock, valued at approximately $7,984,000.
Several other institutional investors also recently made changes to their positions in GRAB. Norges Bank purchased a new stake in shares of Grab during the 4th quarter valued at $161,484,000. Assenagon Asset Management S.A. grew its stake in shares of Grab by 173.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 34,753,836 shares of the company's stock valued at $173,422,000 after buying an additional 22,038,961 shares during the period. Citigroup Inc. grew its stake in shares of Grab by 112.6% during the 3rd quarter. Citigroup Inc. now owns 32,398,782 shares of the company's stock valued at $195,041,000 after buying an additional 17,160,661 shares during the period. Invesco Ltd. grew its stake in shares of Grab by 24.9% during the 3rd 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. Finally, Two Creeks Capital Management LP purchased a new stake in shares of Grab during the 3rd quarter valued at $58,170,000. 55.52% of the stock is owned by hedge funds and other institutional investors.
Grab Price Performance
Shares of NASDAQ:GRAB opened at $3.61 on Tuesday. Grab Holdings Limited has a fifty-two week low of $3.39 and a fifty-two week high of $6.62. The company has a quick ratio of 1.65, a current ratio of 1.67 and a debt-to-equity ratio of 0.06. The company has a market cap of $14.79 billion, a PE ratio of 361.36, a P/E/G ratio of 1.61 and a beta of 0.89. The firm has a 50-day simple moving average of $3.71 and a 200 day simple moving average of $4.33.
Grab (NASDAQ:GRAB - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). Grab had a return on equity of 5.79% and a net margin of 10.67%.The firm had revenue of $955.00 million during the quarter, compared to the consensus estimate of $921.71 million. On average, sell-side analysts anticipate that Grab Holdings Limited will post 0.08 EPS for the current year.
Analyst Upgrades and Downgrades
GRAB has been the subject of several research reports. JPMorgan Chase & Co. lowered their price objective on shares of Grab from $5.90 to $5.80 and set an "overweight" rating for the company in a research note on Tuesday, May 5th. Mizuho lowered their target price on Grab from $7.00 to $6.00 and set an "outperform" rating for the company in a research note on Tuesday, May 5th. China Renaissance upgraded shares of Grab from a "hold" rating to a "buy" rating and set a $5.00 target price on the stock in a research note on Wednesday, May 6th. Benchmark restated a "buy" rating on shares of Grab in a research note on Thursday, February 12th. Finally, Zacks Research lowered shares of Grab from a "hold" rating to a "strong sell" rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has issued 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 $6.19.
View Our Latest Stock Report on GRAB
Insider Activity
In other Grab news, CFO Peter Henry Oey sold 50,000 shares of the company's stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $3.92, for a total value of $196,000.00. Following the completion of the transaction, the chief financial officer owned 7,050,165 shares in the company, valued at approximately $27,636,646.80. This represents a 0.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony Ping Yeow Tan sold 400,000 shares of the company's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $3.67, for a total transaction of $1,468,000.00. Following the completion of the transaction, the chief executive officer owned 25,193 shares of the company's stock, valued at approximately $92,458.31. This trade represents a 94.07% 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. Insiders have sold a total of 1,118,819 shares of company stock worth $4,114,677 in the last quarter. Company insiders own 3.60% of the company's stock.
About Grab
(
Free Report)
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.
Further Reading
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