Deutsche Bank AG Acquires 546,224 Shares of Grab Holdings Limited $GRAB

Key Points

• Deutsche Bank increased its Grab stake by 7.2% in the second quarter, adding 546,224 shares to own 8.17 million shares valued at approximately $30.8 million. Institutional investors collectively own 55.52% of Grab.
• Grab exceeded quarterly expectations, reporting adjusted earnings of $0.06 per share versus the $0.05 consensus and revenue of $997 million. The company posted a 15.97% net margin, while analysts expect full-year earnings of $0.13 per share.
• Shares opened at $3.48, below the average analyst target of $6.01; the stock carries a “Moderate Buy” consensus rating. Analysts remain broadly positive, although Barclays cut its target to $5.00, and insiders sold roughly 1.67 million shares worth $6.07 million in the last quarter.

Deutsche Bank AG boosted its position in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 7.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,172,800 shares of the company's stock after buying an additional 546,224 shares during the quarter. Deutsche Bank AG owned approximately 0.20% of Grab worth $30,811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in GRAB. Jennison Associates LLC bought a new stake in Grab in the 4th quarter worth approximately $18,919,000. Principal Financial Group Inc. increased its stake in Grab by 28.9% in the fourth quarter. Principal Financial Group Inc. now owns 13,177,391 shares of the company's stock worth $65,755,000 after purchasing an additional 2,956,486 shares during the period. ANTIPODES PARTNERS Ltd bought a new position in shares of Grab during the 2nd quarter worth $10,119,000. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Grab by 17.0% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,041,490 shares of the company's stock worth $7,696,000 after purchasing an additional 296,256 shares during the last quarter. Finally, DNB Asset Management AS grew its stake in shares of Grab by 52.4% during the fourth quarter. DNB Asset Management AS now owns 2,949,398 shares of the company's stock worth $14,717,000 after acquiring an additional 1,014,166 shares during the last quarter. Hedge funds and other institutional investors own 55.52% of the company's stock.

Grab Stock Down 0.9%

GRAB stock opened at $3.48 on Friday. The firm's 50-day moving average is $3.62 and its two-hundred day moving average is $3.75. The company has a market capitalization of $14.26 billion, a price-to-earnings ratio of 58.01, a price-to-earnings-growth ratio of 0.92 and a beta of 0.89. Grab Holdings Limited has a 52 week low of $3.18 and a 52 week high of $6.62. The company has a current ratio of 1.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.06.

Grab (NASDAQ:GRAB - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $997.00 million during the quarter, compared to the consensus estimate of $994.97 million. Grab had a net margin of 15.97% and a return on equity of 8.83%. On average, analysts forecast that Grab Holdings Limited will post 0.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Barclays reduced their target price on shares of Grab from $7.00 to $5.00 and set an "overweight" rating for the company in a research report on Thursday, July 9th. Benchmark reissued a "buy" rating on shares of Grab in a research note on Tuesday, August 4th. Morgan Stanley reissued an "overweight" rating and issued a $6.25 price target on shares of Grab in a report on Tuesday, June 30th. JPMorgan Chase & Co. lowered 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. Finally, China Renaissance raised shares of Grab from a "hold" rating to a "buy" rating and set a $5.00 price target for the company in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $6.01.

Insider Activity at Grab

In other news, 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 value of $176,500.00. Following the transaction, the chief financial officer directly owned 6,950,165 shares of the company's stock, valued at approximately $24,534,082.45. This represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chin Yin Ong sold 48,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $3.55, for a total transaction of $170,400.00. Following the transaction, the insider directly owned 3,781,306 shares in the company, valued at $13,423,636.30. The trade was a 1.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 1,666,093 shares of company stock valued at $6,070,081. Insiders own 3.60% of the company's stock.

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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