Grab Holdings Limited $GRAB Stock Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its stake in Grab Holdings Limited (NASDAQ:GRAB) by 20.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,206,808 shares of the company’s stock after acquiring an additional 3,623,480 shares during the period. Russell Investments Group Ltd.’s holdings in Grab were worth $65,956,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in shares of Grab by 13.4% in the 2nd quarter. Principal Financial Group Inc. now owns 24,289,581 shares of the company’s stock worth $91,572,000 after purchasing an additional 2,867,458 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new position in shares of Grab during the second quarter worth about $10,119,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Grab by 17.0% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,041,490 shares of the company’s stock worth $7,696,000 after purchasing an additional 296,256 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of Grab by 20.9% during the second quarter. Hsbc Holdings PLC now owns 17,877,290 shares of the company’s stock worth $67,475,000 after purchasing an additional 3,090,656 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Grab by 16.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 17,687,253 shares of the company’s stock worth $68,200,000 after purchasing an additional 2,486,750 shares in the last quarter. 55.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GRAB shares. Benchmark reiterated a “buy” rating on shares of Grab in a research note on Tuesday, August 4th. Bank of America restated a “buy” rating on shares of Grab in a research note on Friday, September 25th. KeyCorp set a $7.00 target price on Grab in a report on Wednesday, September 16th. JPMorgan Chase & Co. lifted their target price on Grab from $4.80 to $5.10 and gave the stock an “overweight” rating in a research report on Tuesday, November 3rd. Finally, Weiss Ratings upgraded Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, November 3rd. One research 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $5.67.

Insider Buying and Selling at Grab

In other Grab news, COO Alexander Hungate bought 299,571 shares of the business’s stock in a transaction on Monday, September 21st. The shares were purchased at an average price of $2.89 per share, with a total value of $865,760.19. Following the completion of the acquisition, the chief operating officer directly owned 6,411,550 shares of the company’s stock, valued at approximately $18,529,379.50. The trade was a 4.90% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Chin Ong sold 38,000 shares of Grab stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $3.21, for a total value of $121,980.00. Following the completion of the transaction, the insider owned 3,556,611 shares of the company’s stock, valued at approximately $11,416,721.31. The trade was a 1.06% 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. Over the last quarter, insiders have sold 1,269,349 shares of company stock worth $4,339,955. 3.60% of the stock is owned by company insiders.

Grab Stock Performance

Shares of Grab stock remained flat at $3.24 during trading hours on Friday. 60,750,023 shares of the stock were exchanged, compared to its average volume of 73,462,688. The business’s 50 day moving average price is $3.05 and its 200 day moving average price is $3.58. The company has a current ratio of 1.38, a quick ratio of 1.37 and a debt-to-equity ratio of 0.06. Grab Holdings Limited has a one year low of $2.67 and a one year high of $5.53. The stock has a market capitalization of $13.28 billion, a PE ratio of 64.81, a P/E/G ratio of 0.71 and a beta of 0.83.

About Grab

Grab Holdings Limited operates a digital platform that connects consumers, driver- and merchant-partners across Southeast Asia. Its services include ride-hailing and other mobility options, food and grocery delivery, and parcel delivery, offered through the Grab app. The company also provides digital financial services, including payments and lending, and works with partners on products such as insurance and digital banking. Its offerings and availability vary by market. Grab began in Malaysia in 2012 as MyTeksi, a taxi-booking service founded by Anthony Tan and Tan Hooi Ling, and later expanded across the region.