Contrarius Group Holdings Ltd Sells 448,176 Shares of Grab Holdings Limited $GRAB

Key Points

• Contrarius sold 448,176 shares, cutting its Grab stake by 35.8% to 804,111 shares worth about $4.84 million at the end of the quarter.
• Major institutions like Invesco, JPMorgan, State Street and Artisan largely increased their positions (e.g., Invesco +11.8%, JPMorgan +20.8%), and institutional ownership stands at 55.52%.
• Grab recently beat EPS estimates ($0.04 vs. $0.01) but missed revenue ($906M vs. $942M expected); the stock trades near $4.18 with a $16.83B market cap and a consensus analyst rating of Buy with a $6.47 target.

Contrarius Group Holdings Ltd lowered its position in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 35.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 804,111 shares of the company's stock after selling 448,176 shares during the quarter. Contrarius Group Holdings Ltd's holdings in Grab were worth $4,841,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Invesco Ltd. raised its position in Grab by 11.8% in the 2nd quarter. Invesco Ltd. now owns 63,881,785 shares of the company's stock worth $321,325,000 after purchasing an additional 6,767,182 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Grab by 20.8% during the second quarter. JPMorgan Chase & Co. now owns 60,455,589 shares of the company's stock valued at $304,092,000 after buying an additional 10,428,014 shares during the period. State Street Corp grew its stake in shares of Grab by 1.8% during the second quarter. State Street Corp now owns 43,322,397 shares of the company's stock valued at $217,912,000 after buying an additional 759,696 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Grab by 13.4% in the second quarter. Artisan Partners Limited Partnership now owns 39,845,418 shares of the company's stock worth $200,422,000 after buying an additional 4,710,420 shares during the period. Finally, Norges Bank bought a new stake in shares of Grab during the 2nd quarter worth approximately $175,192,000. 55.52% of the stock is owned by hedge funds and other institutional investors.

Grab Stock Down 0.9%

NASDAQ:GRAB opened at $4.18 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.73. Grab Holdings Limited has a 1-year low of $3.36 and a 1-year high of $6.62. The company has a 50-day moving average of $4.57 and a 200 day moving average of $5.21. The firm has a market cap of $16.83 billion, a PE ratio of 139.38, a price-to-earnings-growth ratio of 0.95 and a beta of 0.93.

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

Wall Street Analyst Weigh In

GRAB has been the topic of several research analyst reports. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Grab in a research report on Thursday, January 22nd. Barclays upped their price target on shares of Grab from $6.50 to $7.00 and gave the stock an "overweight" rating in a report on Tuesday, November 11th. HSBC raised shares of Grab from a "hold" rating to a "buy" rating and set a $6.20 price target on the stock in a research note on Friday, January 16th. Jefferies Financial Group reissued a "buy" rating and issued a $7.00 price objective on shares of Grab in a research report on Tuesday, November 4th. Finally, Benchmark reaffirmed a "buy" rating on shares of Grab in a research report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $6.47.

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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