DNB Asset Management AS Increases Position in Grab Holdings Limited $GRAB

Key Points

• DNB Asset Management increased its Grab stake by 52.4% in the fourth quarter, buying over 1 million additional shares and bringing its holding to about 2.95 million shares worth roughly $14.7 million.
• Institutional ownership remains significant, with hedge funds and other institutional investors holding about 55.52% of Grab’s stock. Several major firms, including Invesco, State Street, and Citigroup, also reported recent position changes.
• Analysts are generally constructive on Grab, with a Moderate Buy consensus and average price target of $6.19. The company also reported quarterly revenue above expectations, though earnings per share missed estimates.

DNB Asset Management AS increased its stake in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 52.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,949,398 shares of the company's stock after buying an additional 1,014,166 shares during the quarter. DNB Asset Management AS owned about 0.07% of Grab worth $14,717,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Invesco Ltd. grew its holdings in shares of 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 last quarter. State Street Corp lifted its position in 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 purchasing an additional 759,696 shares during the period. Assenagon Asset Management S.A. lifted its position in Grab by 173.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 34,753,836 shares of the company's stock valued at $173,422,000 after purchasing an additional 22,038,961 shares during the period. WFM ASIA BVI Ltd lifted its position in Grab by 7.4% during the third quarter. WFM ASIA BVI Ltd now owns 33,481,515 shares of the company's stock valued at $201,559,000 after purchasing an additional 2,293,000 shares during the period. Finally, Citigroup Inc. lifted its position in Grab by 112.6% during the third quarter. Citigroup Inc. now owns 32,398,782 shares of the company's stock valued at $195,041,000 after purchasing an additional 17,160,661 shares during the period. 55.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GRAB shares. Wall Street Zen upgraded shares of Grab from a "sell" rating to a "hold" rating in a research report on Friday, January 23rd. Morgan Stanley set a $5.90 target price on shares of Grab in a research report on Wednesday, May 6th. JPMorgan Chase & Co. decreased their target price on shares of Grab from $5.90 to $5.80 and set an "overweight" rating for the company in a research report on Tuesday, May 5th. Benchmark restated a "buy" rating on shares of Grab in a research report on Thursday, February 12th. Finally, China Renaissance upgraded shares of Grab from a "hold" rating to a "buy" rating and set a $5.00 target price for the company in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $6.19.

Insiders Place Their Bets

In other Grab news, insider Chin Yin Ong sold 38,000 shares of the company's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $3.59, for a total value of $136,420.00. Following the completion of the transaction, the insider owned 3,822,988 shares in the company, valued at approximately $13,724,526.92. This represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO John Pierantoni sold 14,819 shares of the company's stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $3.61, for a total transaction of $53,496.59. Following the completion of the transaction, the chief accounting officer owned 569,376 shares of the company's stock, valued at approximately $2,055,447.36. This trade represents a 2.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 990,819 shares of company stock valued at $3,661,077. Insiders own 3.60% of the company's stock.

Grab Stock Performance

Shares of Grab stock opened at $3.55 on Monday. The firm has a 50-day simple moving average of $3.77 and a two-hundred day simple moving average of $4.51. The company has a market cap of $14.55 billion, a P/E ratio of 355.36, a price-to-earnings-growth ratio of 1.61 and a beta of 0.93. Grab Holdings Limited has a fifty-two week low of $3.46 and a fifty-two week high of $6.62. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 1.67.

Grab (NASDAQ:GRAB - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.03). The firm had revenue of $955.00 million during the quarter, compared to analyst estimates of $921.71 million. Grab had a return on equity of 5.79% and a net margin of 10.67%. As a group, equities analysts predict that Grab Holdings Limited will post 0.08 earnings per share for the current fiscal year.

Grab 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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