Grab Holdings Limited $GRAB Shares Sold by First Trust Advisors LP

Key Points

• First Trust Advisors LP cut its Grab position by 90% in the first quarter, selling 272,538 shares and retaining 30,325 shares worth approximately $111,000.
• Grab reported quarterly earnings of $0.06 per share, beating estimates by $0.01, while revenue of $997 million slightly exceeded analyst expectations. The stock opened at $3.70, compared with an average analyst price target of $6.01.
• Despite First Trust’s selling, institutional investors own 55.52% of Grab, and analysts maintain a “Moderate Buy” consensus. Insiders sold 1.59 million shares worth $5.78 million over the past 90 days.

First Trust Advisors LP lessened its position in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 90.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,325 shares of the company's stock after selling 272,538 shares during the quarter. First Trust Advisors LP's holdings in Grab were worth $111,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in Grab during the fourth quarter worth about $161,484,000. PointState Capital LP boosted its stake in shares of Grab by 411.1% in the fourth quarter. PointState Capital LP now owns 32,555,483 shares of the company's stock valued at $162,452,000 after purchasing an additional 26,186,329 shares during the period. Marshall Wace LLP boosted its stake in shares of Grab by 49.2% in the fourth quarter. Marshall Wace LLP now owns 72,453,397 shares of the company's stock valued at $361,542,000 after purchasing an additional 23,891,108 shares during the period. Assenagon Asset Management S.A. grew its holdings 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 valued at $200,957,000 after purchasing an additional 20,152,535 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Grab by 24.9% during the 3rd quarter. Invesco Ltd. now owns 79,797,848 shares of the company's stock worth $480,383,000 after buying an additional 15,916,063 shares during the period. Institutional investors and hedge funds own 55.52% of the company's stock.

Grab Price Performance

GRAB stock opened at $3.70 on Friday. Grab Holdings Limited has a 52-week low of $3.18 and a 52-week high of $6.62. The company has a quick ratio of 1.51, a current ratio of 1.52 and a debt-to-equity ratio of 0.06. The stock's fifty day simple moving average is $3.59 and its 200-day simple moving average is $3.79. The stock has a market capitalization of $15.16 billion, a price-to-earnings ratio of 61.68, a price-to-earnings-growth ratio of 0.95 and a beta of 0.89.

Grab (NASDAQ:GRAB - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.01. Grab had a net margin of 15.97% and a return on equity of 8.83%. The company had revenue of $997.00 million for the quarter, compared to analyst estimates of $994.97 million. Equities research analysts expect that Grab Holdings Limited will post 0.13 EPS for the current year.

Insider Buying and Selling

In other news, COO Alexander Charles Hungate sold 144,093 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $3.45, for a total transaction of $497,120.85. Following the completion of the transaction, the chief operating officer directly owned 6,254,023 shares in the company, valued at approximately $21,576,379.35. This represents a 2.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Peter Henry Oey sold 50,000 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $3.53, for a total transaction of $176,500.00. Following the transaction, the chief financial officer directly owned 6,950,165 shares in the company, valued at $24,534,082.45. The trade was a 0.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,586,093 shares of company stock valued at $5,780,881 over the last ninety days. Insiders own 3.60% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Morgan Stanley reiterated an "overweight" rating and set a $6.25 target price on shares of Grab in a report on Tuesday, June 30th. China Renaissance upgraded Grab from a "hold" rating to a "buy" rating and set a $5.00 price objective on the stock in a research note on Wednesday, May 6th. Benchmark reiterated a "buy" rating on shares of Grab in a research note on Tuesday, August 4th. JPMorgan Chase & Co. decreased their price objective on shares of Grab from $5.90 to $5.80 and set an "overweight" rating for the company in a research note on Tuesday, May 5th. Finally, Barclays dropped their target price on Grab from $7.00 to $5.00 and set an "overweight" rating on the stock in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $6.01.

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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