Grab Holdings Limited $GRAB Shares Acquired by SG Americas Securities LLC

Key Points

• SG Americas Securities LLC more than doubled its stake in Grab Holdings, increasing holdings by 111.3% in the first quarter to 9.8 million shares worth about $35.9 million.
• Other institutional investors also adjusted positions in Grab, and hedge funds/institutions now own 55.52% of the company’s stock.
• Insider selling continued recently, with multiple executives selling shares under pre-arranged trading plans; in the last 90 days, insiders sold 1.62 million shares worth $5.88 million.

SG Americas Securities LLC raised its holdings in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 111.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,804,355 shares of the company's stock after buying an additional 5,164,323 shares during the quarter. SG Americas Securities LLC owned approximately 0.24% of Grab worth $35,884,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GRAB. OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Grab by 9.8% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 11,821,595 shares of the company's stock worth $58,928,000 after purchasing an additional 1,050,619 shares during the last quarter. Altimeter Capital Management LP acquired a new stake in Grab during the third quarter valued at approximately $1,764,000. Massachusetts Financial Services Co. MA lifted its holdings in Grab by 98.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,478,218 shares of the company's stock worth $37,316,000 after buying an additional 3,711,860 shares during the last quarter. Oaktree Capital Management LP lifted its holdings in Grab by 4.5% during the 3rd quarter. Oaktree Capital Management LP now owns 12,094,495 shares of the company's stock worth $72,809,000 after buying an additional 525,200 shares during the last quarter. Finally, William Blair Investment Management LLC grew its position in shares of Grab by 14.7% in the 3rd quarter. William Blair Investment Management LLC now owns 24,264,548 shares of the company's stock worth $146,073,000 after acquiring an additional 3,114,180 shares in the last quarter. Institutional investors and hedge funds own 55.52% of the company's stock.

Insiders Place Their Bets

In other Grab news, insider Philipp Wolfgang Josef Kandal sold 30,000 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $3.53, for a total transaction of $105,900.00. Following the completion of the sale, the insider directly owned 4,065,430 shares in the company, valued at approximately $14,350,967.90. This trade represents a 0.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chin Yin Ong sold 38,000 shares of Grab stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $3.43, for a total value of $130,340.00. Following the transaction, the insider directly owned 3,743,306 shares in the company, valued at approximately $12,839,539.58. This trade represents a 1.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 1,622,000 shares of company stock worth $5,877,920. 3.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Zacks Research raised shares of Grab from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 2nd. Morgan Stanley set a $5.90 target price on shares of Grab in a report on Wednesday, May 6th. Weiss Ratings upgraded shares of Grab from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, May 6th. Mizuho decreased their price target on shares of Grab from $7.00 to $6.00 and set an "outperform" 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 objective for the company in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Grab presently has a consensus rating of "Moderate Buy" and an average price target of $6.19.

Grab Stock Performance

Shares of GRAB opened at $3.46 on Wednesday. The company has a 50-day moving average of $3.64 and a two-hundred day moving average of $4.12. The stock has a market cap of $14.18 billion, a price-to-earnings ratio of 346.35, a PEG ratio of 1.58 and a beta of 0.89. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.67 and a quick ratio of 1.65. Grab Holdings Limited has a one year low of $3.18 and a one year high of $6.62.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.