Groupe la Francaise Acquires 3,697,656 Shares of Grab Holdings Limited $GRAB

Key Points

• Groupe la Francaise increased its Grab Holdings stake by 755.9% in the first quarter, acquiring 3.7 million shares and bringing its total holdings to 4.19 million shares valued at approximately $15.3 million. Institutional investors collectively own 55.52% of Grab.
• Grab’s shares opened at $3.40, near the lower end of their 52-week range, after the company reported quarterly revenue of $955 million but missed earnings expectations with a loss of $0.01 per share.
• Analysts maintain a generally positive outlook, with Grab holding a consensus “Moderate Buy” rating and an average price target of $6.01, although several firms recently reduced their targets. Meanwhile, insiders have sold 1.67 million shares worth about $6.1 million over the past 90 days.

Groupe la Francaise raised its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 755.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,186,842 shares of the company's stock after purchasing an additional 3,697,656 shares during the period. Groupe la Francaise owned 0.10% of Grab worth $15,276,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Integrated Wealth Concepts LLC lifted its stake in shares of Grab by 201.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 35,386 shares of the company's stock valued at $160,000 after purchasing an additional 23,639 shares during the period. Goldman Sachs Group Inc. grew its stake in Grab by 6.1% in the first quarter. Goldman Sachs Group Inc. now owns 9,231,195 shares of the company's stock worth $41,817,000 after purchasing an additional 529,433 shares during the period. Empowered Funds LLC grew its stake in Grab by 6.2% in the first quarter. Empowered Funds LLC now owns 52,698 shares of the company's stock worth $239,000 after purchasing an additional 3,090 shares during the period. Focus Partners Wealth bought a new position in Grab in the first quarter worth $63,000. Finally, Cetera Investment Advisers raised its holdings in Grab by 11.7% in the second quarter. Cetera Investment Advisers now owns 106,710 shares of the company's stock worth $537,000 after purchasing an additional 11,158 shares in the last quarter. Hedge funds and other institutional investors own 55.52% of the company's stock.

Insiders Place Their Bets

In related news, CEO Anthony Ping Yeow Tan sold 400,000 shares of the business's stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $3.91, for a total value of $1,564,000.00. Following the sale, the chief executive officer directly owned 28,498 shares in the company, valued at approximately $111,427.18. The trade was a 93.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 on Monday, June 15th. The shares were sold at an average price of $3.53, for a total transaction of $176,500.00. Following the transaction, the chief financial officer owned 6,950,165 shares of the company's stock, valued at $24,534,082.45. This trade represents a 0.71% 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. Over the last 90 days, insiders have sold 1,666,093 shares of company stock worth $6,083,321. 3.60% of the stock is owned by corporate insiders.

Grab Price Performance

Shares of NASDAQ:GRAB opened at $3.40 on Friday. 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 stock has a market capitalization of $13.93 billion, a PE ratio of 340.34, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87. The firm's 50 day moving average price is $3.57 and its 200-day moving average price is $3.85. Grab Holdings Limited has a twelve month low of $3.18 and a twelve month high of $6.62.

Grab (NASDAQ:GRAB - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). The company 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%. Equities research analysts expect that Grab Holdings Limited will post 0.1 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Barclays lowered their price target on shares of Grab from $7.00 to $5.00 and set an "overweight" rating for the company in a research report on Thursday, July 9th. Weiss Ratings raised shares of Grab from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, May 6th. Mizuho decreased their target price on shares of Grab from $7.00 to $6.00 and set an "outperform" rating for the company in a research note on Tuesday, May 5th. JPMorgan Chase & Co. dropped their price target on Grab from $5.90 to $5.80 and set an "overweight" rating on the stock in a research report on Tuesday, May 5th. Finally, Zacks Research upgraded Grab from a "strong sell" rating to a "hold" rating in a research note on Tuesday, June 2nd. One research 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.com, the stock has an average rating of "Moderate Buy" and a consensus 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.

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.