Lansforsakringar Fondforvaltning AB publ Raises Holdings in Grab Holdings Limited $GRAB

Key Points

• Lansforsakringar Fondforvaltning AB increased its Grab Holdings stake by 23.4% in the first quarter, adding 266,169 shares to bring its total to 1,404,506 shares worth about $5.14 million.
• Grab reported a small earnings miss in its latest quarter, posting EPS of -$0.01 versus the expected $0.02, though revenue of $955 million came in above analyst estimates.
• Analyst sentiment remains generally positive, with an average “Moderate Buy” rating and average price target of $6.23, even as some firms trimmed targets and insiders sold shares during the quarter.

Lansforsakringar Fondforvaltning AB publ grew its holdings in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 23.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,404,506 shares of the company's stock after buying an additional 266,169 shares during the quarter. Lansforsakringar Fondforvaltning AB publ's holdings in Grab were worth $5,140,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of GRAB. Laurel Oak Wealth Management LLC purchased a new position in Grab in the first quarter worth $109,000. Meyer Handelman Co. acquired a new stake in Grab in the first quarter valued at $91,000. Fiduciary Alliance LLC boosted its position in shares of Grab by 111.5% during the 1st quarter. Fiduciary Alliance LLC now owns 1,134,759 shares of the company's stock worth $4,448,000 after purchasing an additional 598,308 shares in the last quarter. Ashoka WhiteOak Capital Pte Ltd boosted its position in shares of Grab by 1.9% during the 1st quarter. Ashoka WhiteOak Capital Pte Ltd now owns 787,010 shares of the company's stock worth $2,778,000 after purchasing an additional 14,500 shares in the last quarter. Finally, Banque Cantonale Vaudoise grew its stake in shares of Grab by 3.9% during the 1st quarter. Banque Cantonale Vaudoise now owns 170,438 shares of the company's stock worth $624,000 after purchasing an additional 6,371 shares during the period. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Grab Price Performance

Shares of NASDAQ:GRAB opened at $3.90 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 1.67. The business's fifty day moving average price is $3.60 and its two-hundred day moving average price is $4.05. The stock has a market cap of $15.98 billion, a PE ratio of 390.39, a price-to-earnings-growth ratio of 1.77 and a beta of 0.87. Grab Holdings Limited has a one year low of $3.18 and a one year 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 for the quarter, missing analysts' consensus estimates of $0.02 by ($0.03). Grab had a return on equity of 5.79% and a net margin of 10.67%.The company had revenue of $955.00 million during the quarter, compared to analyst estimates of $921.71 million. On average, analysts forecast that Grab Holdings Limited will post 0.08 EPS for the current fiscal year.

Analyst Ratings Changes

GRAB has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their price target 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. Zacks Research raised shares of Grab from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 2nd. Morgan Stanley restated an "overweight" rating and set a $6.25 target price on shares of Grab in a research report on Tuesday. Mizuho dropped their target price on shares of Grab from $7.00 to $6.00 and set an "outperform" rating for the company in a report on Tuesday, May 5th. Finally, Weiss Ratings upgraded shares of Grab from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $6.23.

Insider Activity

In other Grab news, CEO Anthony Ping Yeow Tan sold 400,000 shares of the company's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $3.51, for a total value of $1,404,000.00. Following the transaction, the chief executive officer directly owned 425,193 shares in the company, valued at approximately $1,492,427.43. This represents a 48.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $3.53, for a total transaction of $105,900.00. Following the sale, the insider directly owned 4,065,430 shares in the company, valued at $14,350,967.90. This represents a 0.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,766,093 shares of company stock worth $6,384,921 in the last quarter. Corporate insiders own 3.60% of the company's stock.

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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