The Manufacturers Life Insurance Company Sells 549,240 Shares of Grab Holdings Limited $GRAB

The Manufacturers Life Insurance Company reduced its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 4.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,848,655 shares of the company’s stock after selling 549,240 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.29% of Grab worth $43,366,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in Grab in the 4th quarter worth about $25,000. Parallel Advisors LLC boosted its position in Grab by 305.5% in the 4th quarter. Parallel Advisors LLC now owns 6,107 shares of the company’s stock valued at $30,000 after buying an additional 4,601 shares during the period. Advisory Services Network LLC bought a new position in Grab in the 3rd quarter worth about $38,000. Signaturefd LLC increased its position in shares of Grab by 64.6% during the fourth quarter. Signaturefd LLC now owns 6,479 shares of the company’s stock worth $32,000 after acquiring an additional 2,543 shares during the period. Finally, Larson Financial Group LLC increased its position in shares of Grab by 162,500.0% during the third quarter. Larson Financial Group LLC now owns 6,504 shares of the company’s stock worth $39,000 after acquiring an additional 6,500 shares during the period. 55.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GRAB. China Renaissance upgraded Grab from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a report on Wednesday, May 6th. Mizuho reduced their price objective on Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a report 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. Barclays lowered their target price on Grab from $7.00 to $5.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. Finally, Morgan Stanley reissued an “overweight” rating and set a $6.25 price target on shares of Grab in a research report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Grab currently has a consensus rating of “Moderate Buy” and an average target price of $6.01.

Grab Price Performance

Shares of GRAB opened at $3.40 on Friday. The company has a 50 day moving average price of $3.57 and a 200-day moving average price of $3.85. Grab Holdings Limited has a fifty-two week low of $3.18 and a fifty-two week high of $6.62. The stock has a market capitalization of $13.93 billion, a PE ratio of 340.34, a PEG ratio of 1.29 and a beta of 0.87. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 1.67.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). The business had revenue of $955.00 million for the quarter, compared to analysts’ expectations of $921.71 million. Grab had a net margin of 10.67% and a return on equity of 5.79%. Equities analysts predict that Grab Holdings Limited will post 0.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Grab

In other news, insider Chin Yin Ong sold 38,000 shares of Grab stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $3.88, for a total value of $147,440.00. Following the transaction, the insider directly owned 3,708,611 shares in the company, valued at approximately $14,389,410.68. This trade represents a 1.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Alexander Charles Hungate sold 144,093 shares of the business’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $3.45, for a total value of $497,120.85. Following the completion of the transaction, the chief operating officer directly owned 6,254,023 shares of the company’s stock, valued at approximately $21,576,379.35. The trade was a 2.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 1,666,093 shares of company stock worth $6,083,321. 3.60% of the stock is currently 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.