Royal Bank of Canada Sells 6,596,385 Shares of Grab Holdings Limited $GRAB

Key Points

• Royal Bank of Canada cut its Grab position by 79.4% in the first quarter, selling 6.6 million shares and retaining 1.71 million shares valued at approximately $6.26 million.
• Grab insiders sold 1.27 million shares worth about $4.62 million during the quarter, while institutional investors and hedge funds collectively own 55.52% of the stock.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $6.01 target price. Grab recently beat quarterly estimates, reporting $0.06 in EPS and $997 million in revenue.

Royal Bank of Canada reduced its position in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 79.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,710,131 shares of the company's stock after selling 6,596,385 shares during the period. Royal Bank of Canada's holdings in Grab were worth $6,259,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of Grab during the fourth quarter valued at $25,000. Montag A & Associates Inc. acquired a new stake in Grab in the first quarter worth about $27,000. Parallel Advisors LLC increased its position in Grab by 305.5% in 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. Signaturefd LLC raised its holdings in Grab by 64.6% during the 4th quarter. Signaturefd LLC now owns 6,479 shares of the company's stock worth $32,000 after purchasing an additional 2,543 shares during the last quarter. Finally, Advocate Investing Services LLC bought a new stake in Grab during the 4th quarter worth about $35,000. 55.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Grab

In related news, insider Philipp Wolfgang Josef Kandal sold 30,000 shares of the company's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $3.53, for a total value of $105,900.00. Following the completion of the sale, the insider owned 4,065,430 shares in the company, valued at $14,350,967.90. This represents a 0.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Peter Henry Oey sold 50,000 shares of the firm's stock in a transaction on Friday, May 15th. The stock was sold at an average price of $3.54, for a total value of $177,000.00. Following the sale, the chief financial officer directly owned 7,000,165 shares in the company, valued at $24,780,584.10. The trade was 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 quarter, insiders sold 1,266,093 shares of company stock valued at $4,616,081. 3.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

GRAB has been the topic of several recent research reports. Morgan Stanley reaffirmed an "overweight" rating and issued a $6.25 target price on shares of Grab in a research note on Tuesday, June 30th. Benchmark reissued a "buy" rating on shares of Grab in a research note on Tuesday, August 4th. JPMorgan Chase & Co. cut their price objective on shares of Grab from $5.90 to $5.80 and set an "overweight" rating on the stock in a report on Tuesday, May 5th. Mizuho reduced their price objective on shares of Grab from $7.00 to $6.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 5th. Finally, Barclays reduced their price objective 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. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Grab has a consensus rating of "Moderate Buy" and a consensus target price of $6.01.

Grab Stock Performance

Shares of NASDAQ:GRAB opened at $3.74 on Wednesday. The firm's 50 day simple moving average is $3.58 and its 200 day simple moving average is $3.80. Grab Holdings Limited has a fifty-two week low of $3.18 and a fifty-two week high of $6.62. The company has a market capitalization of $15.33 billion, a price-to-earnings ratio of 62.34, a P/E/G ratio of 0.96 and a beta of 0.89. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.52 and a quick ratio of 1.51.

Grab (NASDAQ:GRAB - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.01. Grab had a net margin of 15.97% and a return on equity of 8.83%. The firm had revenue of $997.00 million during the quarter, compared to analysts' expectations of $994.97 million. As a group, sell-side analysts forecast that Grab Holdings Limited will post 0.13 earnings per share for the current year.

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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