Fiduciary Alliance LLC Grows Holdings in Grab Holdings Limited $GRAB

Fiduciary Alliance LLC lifted its stake in Grab Holdings Limited (NASDAQ:GRAB) by 111.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,134,759 shares of the company’s stock after acquiring an additional 598,308 shares during the quarter. Fiduciary Alliance LLC’s holdings in Grab were worth $4,448,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Invesco Ltd. raised its position in Grab by 24.9% in 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 during the period. Marshall Wace LLP boosted its position in shares of Grab by 49.2% during the fourth 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 during the period. JPMorgan Chase & Co. grew its stake in shares of Grab by 1.6% in the fourth quarter. JPMorgan Chase & Co. now owns 56,669,014 shares of the company’s stock valued at $282,778,000 after buying an additional 878,966 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Grab by 58.0% in the first quarter. Assenagon Asset Management S.A. now owns 54,906,371 shares of the company’s stock valued at $200,957,000 after buying an additional 20,152,535 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Grab by 5.7% in the fourth quarter. State Street Corp now owns 45,938,139 shares of the company’s stock valued at $229,231,000 after buying an additional 2,466,572 shares in the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a research note on Tuesday, May 5th. Weiss Ratings raised Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Mizuho cut their price target 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. Zacks Research upgraded shares of Grab from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Finally, Morgan Stanley set a $5.90 price target on shares of Grab in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Grab has a consensus rating of “Moderate Buy” and an average target price of $6.19.

Insider Buying and Selling

In other Grab news, CFO Peter Henry Oey sold 50,000 shares of the stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $3.92, for a total value of $196,000.00. Following the sale, the chief financial officer owned 7,050,165 shares of the company’s stock, valued at $27,636,646.80. This trade represents a 0.70% decrease in their position. The transaction was disclosed in a document filed 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, CEO Anthony Ping Yeow Tan sold 400,000 shares of Grab stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $3.67, for a total value of $1,468,000.00. Following the completion of the transaction, the chief executive officer owned 25,193 shares of the company’s stock, valued at $92,458.31. The trade was a 94.07% 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 sold 1,622,000 shares of company stock valued at $5,877,920 in the last three months. 3.60% of the stock is owned by corporate insiders.

Grab Stock Performance

NASDAQ:GRAB opened at $3.49 on Thursday. The company has a fifty day simple moving average of $3.64 and a two-hundred day simple moving average of $4.11. The company has a market cap of $14.30 billion, a price-to-earnings ratio of 349.35, a price-to-earnings-growth ratio of 1.57 and a beta of 0.89. The company has a quick ratio of 1.65, a current ratio of 1.67 and a debt-to-equity ratio of 0.06. Grab Holdings Limited has a 52 week low of $3.18 and a 52 week high of $6.62.

Grab (NASDAQ:GRAB) last posted its quarterly earnings data 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). 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%. As a group, equities analysts anticipate that Grab Holdings Limited will post 0.08 earnings per share for the current fiscal year.

About Grab

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.