Grab Holdings Limited $GRAB Shares Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Grab Holdings stake by 58% in the first quarter, buying more than 20 million additional shares and bringing its total holdings to 54.9 million shares worth about $201 million.
• Grab reported mixed quarterly results, posting a small loss of $0.01 per share but beating revenue expectations with $955 million in sales. Analysts now expect the company to earn $0.08 per share for the full year.
• Insider selling and analyst sentiment were notable: several executives sold shares recently, while analysts maintain a consensus Moderate Buy rating with an average target price of $6.19.

Assenagon Asset Management S.A. lifted its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 58.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 54,906,371 shares of the company's stock after acquiring an additional 20,152,535 shares during the quarter. Assenagon Asset Management S.A. owned 1.34% of Grab worth $200,957,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of GRAB. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of Grab in the 4th quarter valued at approximately $25,000. Parallel Advisors LLC boosted its stake in Grab by 305.5% during the 4th quarter. Parallel Advisors LLC now owns 6,107 shares of the company's stock valued at $30,000 after acquiring an additional 4,601 shares during the last quarter. Signaturefd LLC grew its holdings in Grab by 64.6% during the 4th quarter. Signaturefd LLC now owns 6,479 shares of the company's stock worth $32,000 after acquiring an additional 2,543 shares in the last quarter. Advocate Investing Services LLC acquired a new position in Grab during the 4th quarter worth $35,000. Finally, Advisory Services Network LLC bought a new stake in shares of Grab in the 3rd quarter worth about $38,000. Institutional investors and hedge funds own 55.52% of the company's stock.

Insider Buying and Selling at Grab

In other news, insider Chin Yin Ong sold 48,000 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 3,781,306 shares in the company, valued at approximately $13,423,636.30. This represents a 1.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Peter Henry Oey sold 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $3.92, for a total value of $196,000.00. Following the completion of the sale, the chief financial officer directly owned 7,050,165 shares in the company, valued at approximately $27,636,646.80. This trade represents a 0.70% 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. Insiders sold a total of 1,622,000 shares of company stock worth $5,877,920 over the last ninety days. Company insiders own 3.60% of the company's stock.

Grab Trading Up 0.9%

Grab stock opened at $3.49 on Thursday. Grab Holdings Limited has a 1 year low of $3.18 and a 1 year high of $6.62. The firm's 50-day moving average is $3.64 and its 200-day moving average is $4.11. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 1.67. The company has a market cap of $14.30 billion, a P/E ratio of 349.35, a PEG ratio of 1.57 and a beta of 0.89.

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 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%. On average, equities analysts expect that Grab Holdings Limited will post 0.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Mizuho cut their target price on shares of Grab from $7.00 to $6.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 5th. Zacks Research raised Grab from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 2nd. JPMorgan Chase & Co. cut their price objective on Grab from $5.90 to $5.80 and set an "overweight" rating on the stock in a research note on Tuesday, May 5th. Weiss Ratings raised Grab from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, May 6th. Finally, Morgan Stanley set a $5.90 target price on Grab 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 issued a Hold rating to the company. According to MarketBeat.com, Grab has a consensus rating of "Moderate Buy" and a consensus target price of $6.19.

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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