Groupe la Francaise Sells 1,320,627 Shares of Grab Holdings Limited $GRAB

Key Points

• Groupe la Française cut its Grab stake by 31.5% in the second quarter, selling 1.32 million shares and retaining 2.87 million shares worth approximately $10.8 million. Institutional investors collectively own 55.52% of Grab.
• Grab insiders sold 1.73 million shares worth $6.28 million over the past 90 days, including sales by the CFO and COO under pre-arranged Rule 10b5-1 trading plans.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $6.01. Grab recently beat quarterly earnings and revenue estimates, while its shares opened at $3.42—near the lower end of their 52-week range.

Groupe la Francaise decreased its position in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 31.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,866,215 shares of the company's stock after selling 1,320,627 shares during the quarter. Groupe la Francaise owned approximately 0.07% of Grab worth $10,815,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. VPR Management LLC acquired a new position in Grab in the 2nd quarter worth about $829,000. Vanguard Capital Wealth Advisors acquired a new stake in shares of Grab during the second quarter valued at about $143,000. Two Sigma Securities LLC boosted its stake in shares of Grab by 114.5% during the second quarter. Two Sigma Securities LLC now owns 303,096 shares of the company's stock valued at $1,143,000 after purchasing an additional 161,821 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Grab by 10.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 81,567 shares of the company's stock valued at $308,000 after purchasing an additional 7,450 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of Grab by 20.9% during the second quarter. Hsbc Holdings PLC now owns 17,877,290 shares of the company's stock worth $67,475,000 after purchasing an additional 3,090,656 shares during the last quarter. Institutional investors own 55.52% of the company's stock.

Insider Activity at Grab

In other Grab news, CFO Peter Henry Oey sold 50,000 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $3.60, for a total transaction of $180,000.00. Following the completion of the sale, the chief financial officer directly owned 6,853,470 shares in the company, valued at approximately $24,672,492. This trade represents a 0.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Alexander Hungate sold 145,349 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $3.48, for a total value of $505,814.52. Following the sale, the chief operating officer owned 6,111,979 shares of the company's stock, valued at approximately $21,269,686.92. The trade was a 2.32% decrease in their ownership of the stock. 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 1,725,442 shares of company stock valued at $6,275,155 over the last 90 days. 3.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GRAB has been the subject of a number of research reports. Morgan Stanley reiterated an "overweight" rating and issued a $6.25 price objective on shares of Grab in a report on Tuesday, June 30th. Zacks Research upgraded shares of Grab from a "strong sell" rating to a "hold" rating in a research report on Tuesday, June 2nd. Barclays dropped their price target on shares of Grab from $7.00 to $5.00 and set an "overweight" rating for the company in a research note on Thursday, July 9th. Weiss Ratings lowered shares of Grab from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, August 17th. Finally, Benchmark reissued a "buy" rating on shares of Grab in a research note on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Grab has a consensus rating of "Moderate Buy" and an average price target of $6.01.

Grab Price Performance

Shares of GRAB opened at $3.42 on Monday. The business has a 50-day moving average of $3.62 and a 200-day moving average of $3.70. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.52 and a quick ratio of 1.51. The company has a market capitalization of $14.01 billion, a price-to-earnings ratio of 57.01, a price-to-earnings-growth ratio of 0.90 and a beta of 0.89. Grab Holdings Limited has a 1 year low of $3.18 and a 1 year high of $6.62.

Grab (NASDAQ:GRAB - Get Free Report) last released its 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. The business had revenue of $997.00 million during the quarter, compared to the consensus estimate of $994.97 million. Grab had a net margin of 15.97% and a return on equity of 8.83%. As a group, equities research analysts anticipate that Grab Holdings Limited will post 0.13 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.

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