Grab Holdings Limited $GRAB Shares Purchased by DNB Asset Management AS

DNB Asset Management AS increased its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 52.4% in the 4th quarter, Holdings Channel reports. The firm owned 2,949,398 shares of the company’s stock after purchasing an additional 1,014,166 shares during the period. DNB Asset Management AS’s holdings in Grab were worth $14,717,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of GRAB. Allianz Asset Management GmbH grew its position in Grab by 83.3% during the third quarter. Allianz Asset Management GmbH now owns 967,530 shares of the company’s stock valued at $5,825,000 after acquiring an additional 439,748 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its position in Grab by 9.8% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 11,821,595 shares of the company’s stock valued at $58,928,000 after acquiring an additional 1,050,619 shares during the period. Mediolanum International Funds Ltd grew its position in Grab by 131.5% during the third quarter. Mediolanum International Funds Ltd now owns 1,697,761 shares of the company’s stock valued at $10,373,000 after acquiring an additional 964,475 shares during the period. Principal Financial Group Inc. grew its position in Grab by 68.3% during the third quarter. Principal Financial Group Inc. now owns 10,220,905 shares of the company’s stock valued at $61,530,000 after acquiring an additional 4,149,040 shares during the period. Finally, Altimeter Capital Management LP acquired a new position in shares of Grab during the third quarter worth about $1,764,000. Institutional investors and hedge funds own 55.52% of the company’s stock.

Insider Buying and Selling at Grab

In other news, insider Chin Yin Ong sold 38,000 shares of Grab stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $3.59, for a total transaction of $136,420.00. Following the sale, the insider directly owned 3,822,988 shares of the company’s stock, valued at approximately $13,724,526.92. The trade was a 0.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony Ping Yeow Tan sold 400,000 shares of Grab stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $3.67, for a total value of $1,468,000.00. Following the sale, the chief executive officer directly owned 25,193 shares in the company, valued at approximately $92,458.31. The trade was a 94.07% 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. In the last 90 days, insiders sold 990,819 shares of company stock valued at $3,661,077. Company insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. China Renaissance upgraded 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 restated an “outperform” rating and set a $5.80 price objective on shares of Grab in a research note on Monday, January 26th. Weiss Ratings upgraded Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Zacks Research cut Grab from a “hold” rating to a “strong sell” rating in a research note on Monday, May 4th. Finally, Morgan Stanley set a $5.90 price objective on Grab in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Grab presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.19.

Grab Price Performance

Shares of NASDAQ GRAB opened at $3.55 on Monday. Grab Holdings Limited has a 1 year low of $3.46 and a 1 year high of $6.62. The firm has a market cap of $14.55 billion, a price-to-earnings ratio of 355.36, a PEG ratio of 1.61 and a beta of 0.93. 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 stock’s 50-day simple moving average is $3.77 and its 200-day simple moving average is $4.51.

Grab (NASDAQ:GRAB) last announced its earnings results on Tuesday, May 5th. The company reported ($0.01) earnings per share (EPS) 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 business had revenue of $955.00 million for the quarter, compared to analysts’ expectations of $921.71 million. As a group, equities analysts anticipate that Grab Holdings Limited will post 0.08 earnings per share for the current fiscal 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.