DSM Capital Partners LLC Reduces Stock Position in Grab Holdings Limited $GRAB

Key Points

• DSM Capital Partners cut its Grab Holdings stake by 39.3% in the first quarter, selling 473,757 shares and leaving it with 731,172 shares valued at about $2.68 million.
• Several other institutional investors have been active in Grab, and hedge funds and other institutions own 55.52% of the company’s shares.
• Analyst sentiment is mixed but generally positive, with Grab carrying a “Moderate Buy” consensus and an average price target of $6.23, while insiders including the CEO and COO recently sold shares under pre-arranged trading plans.

DSM Capital Partners LLC decreased its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 39.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 731,172 shares of the company's stock after selling 473,757 shares during the quarter. DSM Capital Partners LLC's holdings in Grab were worth $2,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Invesco Ltd. raised its holdings in shares of Grab by 24.9% in the 3rd quarter. Invesco Ltd. now owns 79,797,848 shares of the company's stock valued at $480,383,000 after acquiring an additional 15,916,063 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Grab by 49.2% during the fourth quarter. Marshall Wace LLP now owns 72,453,397 shares of the company's stock worth $361,542,000 after purchasing an additional 23,891,108 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Grab by 1.6% in the fourth quarter. JPMorgan Chase & Co. now owns 56,669,014 shares of the company's stock worth $282,778,000 after purchasing an additional 878,966 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Grab by 58.0% in the first quarter. Assenagon Asset Management S.A. now owns 54,906,371 shares of the company's stock worth $200,957,000 after purchasing an additional 20,152,535 shares during the last quarter. Finally, State Street Corp raised its stake in Grab by 5.7% in the fourth quarter. State Street Corp now owns 45,938,139 shares of the company's stock valued at $229,231,000 after purchasing an additional 2,466,572 shares in the last quarter. Hedge funds and other institutional investors own 55.52% of the company's stock.

Analysts Set New Price Targets

GRAB has been the subject of a number of research analyst reports. Zacks Research raised shares of Grab from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 2nd. Weiss Ratings raised Grab from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, May 6th. Morgan Stanley restated an "overweight" rating and set a $6.25 price target on shares of Grab in a research report on Tuesday, June 30th. Mizuho dropped their price target on Grab from $7.00 to $6.00 and set an "outperform" rating for the company in a research note on Tuesday, May 5th. Finally, China Renaissance upgraded Grab from a "hold" rating to a "buy" rating and set a $5.00 price objective for the company in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $6.23.

Insider Transactions at Grab

In other Grab news, COO Alexander Charles Hungate sold 144,093 shares of the business's stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $3.45, for a total value of $497,120.85. Following the sale, the chief operating officer directly owned 6,254,023 shares of the company's stock, valued at approximately $21,576,379.35. The trade was a 2.25% 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, CEO Anthony Ping Yeow Tan sold 400,000 shares of the company's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $3.51, for a total transaction of $1,404,000.00. Following the completion of the transaction, the chief executive officer owned 425,193 shares in the company, valued at approximately $1,492,427.43. The trade was a 48.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 1,766,093 shares of company stock worth $6,384,921. Company insiders own 3.60% of the company's stock.

Grab Price Performance

Shares of Grab stock opened at $3.81 on Thursday. The company's fifty day simple moving average is $3.59 and its two-hundred day simple moving average is $4.02. Grab Holdings Limited has a 12-month low of $3.18 and a 12-month high of $6.62. The firm has a market cap of $15.61 billion, a PE ratio of 381.38, a price-to-earnings-growth ratio of 1.55 and a beta of 0.87. The company has a quick ratio of 1.65, a current ratio of 1.67 and a debt-to-equity ratio of 0.06.

Grab (NASDAQ:GRAB - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.03). The business had revenue of $955.00 million for the quarter, compared to the consensus estimate of $921.71 million. Grab had a net margin of 10.67% and a return on equity of 5.79%. As a group, equities analysts expect that Grab Holdings Limited will post 0.1 EPS for the current 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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