William Blair Investment Management LLC Lowers Holdings in Grab Holdings Limited $GRAB

Key Points

• William Blair Investment Management cut its Grab Holdings position by 6.5% in the fourth quarter, selling 1.59 million shares and leaving it with 22.68 million shares worth about $113.2 million.
• Grab posted mixed quarterly results, reporting a small EPS loss of $0.01 versus expectations for a $0.02 profit, while revenue of $955 million topped estimates. Analysts still expect the company to earn $0.08 per share for the year.
• Wall Street remains cautiously positive on the stock, with a Moderate Buy consensus and an average price target of $6.19, even as the shares traded near $3.51 and are close to their 1-year low.

William Blair Investment Management LLC reduced its position in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 6.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,676,283 shares of the company's stock after selling 1,588,265 shares during the quarter. William Blair Investment Management LLC owned 0.56% of Grab worth $113,155,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Assenagon Asset Management S.A. raised its holdings in Grab by 173.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 34,753,836 shares of the company's stock valued at $173,422,000 after acquiring an additional 22,038,961 shares during the last quarter. Citigroup Inc. increased its holdings in Grab by 112.6% in the 3rd quarter. Citigroup Inc. now owns 32,398,782 shares of the company's stock valued at $195,041,000 after purchasing an additional 17,160,661 shares during the last quarter. Invesco Ltd. increased its holdings in Grab by 24.9% in the 3rd 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 during the last quarter. Two Creeks Capital Management LP acquired a new stake in Grab in the 3rd quarter valued at approximately $58,170,000. Finally, Ameriprise Financial Inc. increased its holdings in Grab by 1,908.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,662,747 shares of the company's stock valued at $34,090,000 after purchasing an additional 5,380,737 shares during the last quarter. Institutional investors and hedge funds own 55.52% of the company's stock.

Grab Trading Down 1.4%

Shares of Grab stock opened at $3.51 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.67 and a quick ratio of 1.65. Grab Holdings Limited has a 1 year low of $3.39 and a 1 year high of $6.62. The company has a market capitalization of $14.38 billion, a P/E ratio of 351.35, a P/E/G ratio of 1.59 and a beta of 0.93. The business has a 50 day moving average price of $3.73 and a 200 day moving average price of $4.44.

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 the consensus estimate of $0.02 by ($0.03). The company had revenue of $955.00 million for the quarter, compared to analysts' expectations of $921.71 million. Grab had a return on equity of 5.79% and a net margin of 10.67%. Sell-side analysts anticipate that Grab Holdings Limited will post 0.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GRAB. Morgan Stanley set a $5.90 price objective on shares of Grab in a research report on Wednesday, May 6th. China Renaissance upgraded shares of Grab from a "hold" rating to a "buy" rating and set a $5.00 price objective on the stock in a research note on Wednesday, May 6th. Sanford C. Bernstein reiterated an "outperform" rating and set a $5.80 price target on shares of Grab in a research note on Monday, January 26th. Benchmark restated a "buy" rating on shares of Grab in a research report on Thursday, February 12th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Grab from $5.90 to $5.80 and set an "overweight" rating on the stock in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned 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 stock has a consensus rating of "Moderate Buy" and an average target price of $6.19.

Insider Activity at Grab

In other Grab news, insider Chin Yin Ong sold 38,000 shares of the firm's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $3.59, for a total transaction of $136,420.00. Following the completion of the transaction, the insider owned 3,822,988 shares of the company's stock, valued at approximately $13,724,526.92. This trade represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through 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 company's stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $3.92, for a total transaction of $196,000.00. Following the transaction, the chief financial officer directly owned 7,050,165 shares in the company, valued at $27,636,646.80. The trade was a 0.70% 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. Insiders have sold a total of 1,070,819 shares of company stock valued at $3,944,277 in the last ninety days. 3.60% of the stock is owned by 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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