Grab Holdings Limited $GRAB Shares Purchased by Coronation Fund Managers Ltd.

Key Points

• Coronation Fund Managers Ltd. increased its Grab stake by 74.5% in the first quarter, buying 13.9 million more shares and bringing its total to 32.6 million shares worth about $119.3 million.
• Several other large institutional investors also boosted their positions, and overall institutional ownership stands at 55.52% of Grab’s stock.
• Grab shares were down 4.3% to $3.35, while analysts remain generally positive with a Moderate Buy consensus and an average target price of $6.01, despite the company missing EPS estimates in its latest earnings report.

Coronation Fund Managers Ltd. lifted its stake in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 74.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,601,355 shares of the company's stock after purchasing an additional 13,919,053 shares during the quarter. Grab accounts for 5.4% of Coronation Fund Managers Ltd.'s holdings, making the stock its 5th biggest holding. Coronation Fund Managers Ltd. owned approximately 0.80% of Grab worth $119,321,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of GRAB. Invesco Ltd. increased its holdings in 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 buying an additional 15,916,063 shares during the period. Marshall Wace LLP boosted its position in shares of Grab by 49.2% during the 4th quarter. Marshall Wace LLP now owns 72,453,397 shares of the company's stock worth $361,542,000 after acquiring an additional 23,891,108 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Grab by 1.6% in the fourth quarter. JPMorgan Chase & Co. now owns 56,669,014 shares of the company's stock valued at $282,778,000 after acquiring an additional 878,966 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Grab by 58.0% in the first quarter. Assenagon Asset Management S.A. now owns 54,906,371 shares of the company's stock valued at $200,957,000 after acquiring an additional 20,152,535 shares during the last quarter. Finally, State Street Corp raised its position in Grab by 5.7% during 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. Institutional investors and hedge funds own 55.52% of the company's stock.

Insider Buying and Selling

In other Grab news, CFO Peter Henry Oey sold 50,000 shares of the company's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $3.53, for a total value of $176,500.00. Following the sale, the chief financial officer owned 6,950,165 shares in the company, valued at approximately $24,534,082.45. The trade was a 0.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Philipp Wolfgang Josef Kandal sold 30,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $3.53, for a total value of $105,900.00. Following the completion of the sale, the insider directly owned 4,065,430 shares of the company's stock, valued at approximately $14,350,967.90. The trade was a 0.73% 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 have sold a total of 1,666,093 shares of company stock valued at $6,083,321 over the last quarter. 3.60% of the stock is currently owned by company insiders.

Grab Trading Down 4.3%

NASDAQ GRAB opened at $3.35 on Thursday. The company has a market cap of $13.73 billion, a price-to-earnings ratio of 335.34, a price-to-earnings-growth ratio of 1.34 and a beta of 0.87. Grab Holdings Limited has a twelve month low of $3.18 and a twelve month high of $6.62. The company has a quick ratio of 1.65, a current ratio of 1.67 and a debt-to-equity ratio of 0.06. The business's fifty day moving average is $3.59 and its 200 day moving average is $3.92.

Grab (NASDAQ:GRAB - Get Free Report) last announced its quarterly 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). Grab had a net margin of 10.67% and a return on equity of 5.79%. The firm had revenue of $955.00 million for the quarter, compared to analyst estimates of $921.71 million. As a group, sell-side analysts expect that Grab Holdings Limited will post 0.1 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Barclays cut their target price on Grab from $7.00 to $5.00 and set an "overweight" rating for the company in a research note on Thursday, July 9th. China Renaissance upgraded 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. Zacks Research upgraded Grab from a "strong sell" rating to a "hold" rating in a research report on Tuesday, June 2nd. Mizuho lowered their target price 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, JPMorgan Chase & Co. dropped their target price on shares of Grab from $5.90 to $5.80 and set an "overweight" rating for the company in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Grab has an average rating of "Moderate Buy" and an average target price of $6.01.

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.

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