Mitsubishi UFJ Trust & Banking Corp Acquires 296,256 Shares of Grab Holdings Limited $GRAB

Key Points

• Mitsubishi UFJ Trust & Banking increased its Grab stake by 17%, purchasing 296,256 shares to bring its holdings to 2.04 million shares valued at approximately $7.7 million. Institutional investors collectively own 55.52% of Grab.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $6.01, despite several firms lowering their targets. Grab recently beat quarterly expectations, reporting $0.06 EPS and $997 million in revenue.
• Grab shares opened at $3.62, near their 50-day moving average and below the 52-week high of $6.62. Company insiders sold 1.59 million shares worth about $5.8 million during the latest quarter.

Mitsubishi UFJ Trust & Banking Corp increased its holdings in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 17.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,041,490 shares of the company's stock after purchasing an additional 296,256 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in Grab were worth $7,696,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its holdings in Grab by 24.9% during the third quarter. Invesco Ltd. now owns 79,797,848 shares of the company's stock valued at $480,383,000 after purchasing an additional 15,916,063 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Grab by 49.2% in the 4th quarter. Marshall Wace LLP now owns 72,453,397 shares of the company's stock worth $361,542,000 after buying an additional 23,891,108 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Grab by 1.6% in the 4th quarter. JPMorgan Chase & Co. now owns 56,669,014 shares of the company's stock worth $282,778,000 after buying an additional 878,966 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Grab by 58.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 54,906,371 shares of the company's stock worth $200,957,000 after buying an additional 20,152,535 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Grab by 5.7% during the 4th quarter. State Street Corp now owns 45,938,139 shares of the company's stock worth $229,231,000 after buying an additional 2,466,572 shares during the period. Institutional investors own 55.52% of the company's stock.

Wall Street Analyst Weigh In

GRAB has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased their price target on Grab from $5.90 to $5.80 and set an "overweight" rating on the stock in a research note on Tuesday, May 5th. Morgan Stanley reiterated an "overweight" rating and set a $6.25 price objective on shares of Grab in a research note on Tuesday, June 30th. China Renaissance raised Grab from a "hold" rating to a "buy" rating and set a $5.00 price objective for the company in a report on Wednesday, May 6th. Barclays reduced their target price on shares of Grab from $7.00 to $5.00 and set an "overweight" rating on the stock in a research note on Thursday, July 9th. Finally, Zacks Research raised shares of Grab from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $6.01.

Grab Stock Performance

NASDAQ:GRAB opened at $3.62 on Friday. Grab Holdings Limited has a 1 year low of $3.18 and a 1 year high of $6.62. The firm has a 50 day moving average of $3.60 and a 200-day moving average of $3.79. The company has a current ratio of 1.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $14.83 billion, a P/E ratio of 60.34, a price-to-earnings-growth ratio of 0.95 and a beta of 0.89.

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

Insider Transactions at Grab

In other Grab news, CFO Peter Henry Oey sold 50,000 shares of Grab stock in a transaction on Monday, June 15th. The stock was sold at an average price of $3.53, for a total value of $176,500.00. Following the completion of the transaction, the chief financial officer owned 6,950,165 shares in the company, valued at approximately $24,534,082.45. The trade was a 0.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chin Yin Ong sold 48,000 shares of the business's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $3.55, for a total value of $170,400.00. Following the completion of the transaction, the insider directly owned 3,781,306 shares in the company, valued at approximately $13,423,636.30. This represents a 1.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 1,586,093 shares of company stock worth $5,780,881. 3.60% of the stock is owned by company insiders.

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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