Hsbc Holdings PLC Purchases 3,090,656 Shares of Grab Holdings Limited $GRAB

Key Points

• HSBC increased its Grab stake by 20.9% in the second quarter, purchasing 3,090,656 shares and bringing its holdings to 17.88 million shares valued at approximately $67.5 million.
• Grab reported quarterly EPS of $0.06, exceeding analysts’ $0.05 estimate, while revenue of $997 million slightly topped forecasts. The stock opened at $3.42, near its 12-month low of $3.18.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $6.01 price target, although insiders sold $6.28 million worth of shares over the past three months.

Hsbc Holdings PLC grew its position in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 20.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,877,290 shares of the company's stock after purchasing an additional 3,090,656 shares during the quarter. Hsbc Holdings PLC owned approximately 0.44% of Grab worth $67,475,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GRAB. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in Grab during the 4th quarter worth approximately $25,000. Montag A & Associates Inc. bought a new position in shares of Grab during the first quarter valued at $27,000. Parallel Advisors LLC lifted its holdings in shares of Grab by 305.5% during the fourth quarter. Parallel Advisors LLC now owns 6,107 shares of the company's stock worth $30,000 after purchasing an additional 4,601 shares during the period. Advocate Investing Services LLC acquired a new position in shares of Grab during the fourth quarter worth $35,000. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of Grab by 128.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,525 shares of the company's stock worth $38,000 after purchasing an additional 4,225 shares during the last quarter. 55.52% of the stock is currently owned by institutional investors.

Grab Stock Performance

GRAB opened at $3.42 on Tuesday. Grab Holdings Limited has a twelve month low of $3.18 and a twelve month high of $6.62. The company has a fifty day moving average of $3.62 and a 200-day moving average of $3.69. The stock has a market cap of $14.01 billion, a PE ratio of 57.01, a price-to-earnings-growth ratio of 0.90 and a beta of 0.89. The company has a quick ratio of 1.51, a current ratio of 1.52 and a debt-to-equity ratio of 0.06.

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

Insider Buying and Selling

In related news, CFO Peter Henry Oey sold 50,000 shares of the firm's stock in a transaction that occurred on 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 owned 6,853,470 shares of the company's stock, valued at $24,672,492. This trade represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Alexander Hungate sold 145,349 shares of the business's stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $3.48, for a total value of $505,814.52. Following the completion of the transaction, the chief operating officer directly owned 6,111,979 shares in the company, valued at approximately $21,269,686.92. This trade represents 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 1,725,442 shares of company stock worth $6,275,155 over the last three months. Insiders own 3.60% of the company's stock.

Analyst Ratings Changes

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

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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