Geode Capital Management LLC Boosts Holdings in Grab Holdings Limited $GRAB

Key Points

• Geode Capital Management increased its Grab Holdings stake by 3.3% in the fourth quarter, buying 809,514 additional shares and bringing its total to 25.6 million shares valued at about $126.2 million.
• Grab recently reported quarterly EPS of ($0.01), missing analyst expectations, though revenue of $955 million came in above estimates. Analysts still see moderate upside, with a consensus “Moderate Buy” rating and a target price of $6.19.
• Insiders have been selling shares, including CEO Anthony Ping Yeow Tan and insider Chin Yin Ong, with roughly 1.12 million shares sold over the last 90 days. Despite that, institutional investors own a majority of the stock, at 55.52%.

Geode Capital Management LLC grew its stake in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 3.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,581,834 shares of the company's stock after purchasing an additional 809,514 shares during the quarter. Geode Capital Management LLC owned approximately 0.64% of Grab worth $126,155,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its position in Grab by 173.3% in 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 buying an additional 22,038,961 shares during the last quarter. Citigroup Inc. boosted its position in Grab by 112.6% in the 3rd quarter. Citigroup Inc. now owns 32,398,782 shares of the company's stock worth $195,041,000 after purchasing an additional 17,160,661 shares in the last quarter. Invesco Ltd. boosted its position in Grab by 24.9% in the 3rd quarter. Invesco Ltd. now owns 79,797,848 shares of the company's stock worth $480,383,000 after purchasing an additional 15,916,063 shares in the last quarter. Two Creeks Capital Management LP purchased a new position in shares of Grab during the 3rd quarter valued at approximately $58,170,000. Finally, Ameriprise Financial Inc. lifted its position in shares of Grab by 1,908.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,662,747 shares of the company's stock valued at $34,090,000 after buying an additional 5,380,737 shares in the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

Grab Price Performance

Shares of NASDAQ GRAB opened at $3.46 on Friday. The stock has a market cap of $14.18 billion, a P/E ratio of 346.35, a P/E/G ratio of 1.55 and a beta of 0.89. The company has a current ratio of 1.67, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. The stock has a 50 day moving average of $3.70 and a two-hundred day moving average of $4.29. Grab Holdings Limited has a twelve month low of $3.38 and a twelve month high of $6.62.

Grab (NASDAQ:GRAB - Get Free Report) last announced 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 business had revenue of $955.00 million during the quarter, compared to analysts' expectations of $921.71 million. Grab had a net margin of 10.67% and a return on equity of 5.79%. On average, research analysts forecast that Grab Holdings Limited will post 0.08 earnings per share for the current year.

Insider Activity

In other Grab news, insider Chin Yin Ong sold 48,000 shares of the firm's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $3.55, for a total value of $170,400.00. Following the sale, the insider directly owned 3,781,306 shares of the company's stock, valued at approximately $13,423,636.30. This trade represents a 1.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Anthony Ping Yeow Tan sold 400,000 shares of the firm's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $3.67, for a total value of $1,468,000.00. Following the completion of the sale, the chief executive officer directly owned 25,193 shares in the company, valued at approximately $92,458.31. The trade was a 94.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 1,118,819 shares of company stock valued at $4,114,677. 3.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GRAB has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their price objective on Grab from $5.90 to $5.80 and set an "overweight" rating on the stock in a report on Tuesday, May 5th. Benchmark reissued a "buy" rating on shares of Grab in a research report on Thursday, February 12th. China Renaissance raised 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. Weiss Ratings raised Grab from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, May 6th. Finally, Mizuho lowered their price objective on Grab from $7.00 to $6.00 and set an "outperform" rating for the company in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $6.19.

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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