Russell Investments Group Ltd. Purchases 143,780 Shares of Grab Holdings Limited $GRAB

Russell Investments Group Ltd. lifted its position in Grab Holdings Limited (NASDAQ:GRAB) by 0.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,583,328 shares of the company’s stock after buying an additional 143,780 shares during the quarter. Russell Investments Group Ltd.’s holdings in Grab were worth $66,281,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in Grab by 9.8% in the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 11,821,595 shares of the company’s stock worth $58,928,000 after acquiring an additional 1,050,619 shares during the period. Jennison Associates LLC bought a new stake in Grab during the fourth quarter valued at about $18,919,000. Principal Financial Group Inc. boosted its holdings in Grab by 28.9% during the fourth quarter. Principal Financial Group Inc. now owns 13,177,391 shares of the company’s stock valued at $65,755,000 after acquiring an additional 2,956,486 shares during the period. DNB Asset Management AS boosted its holdings in Grab by 52.4% during the fourth quarter. DNB Asset Management AS now owns 2,949,398 shares of the company’s stock valued at $14,717,000 after acquiring an additional 1,014,166 shares during the period. Finally, WFM ASIA BVI Ltd grew its position in shares of Grab by 12.5% in the fourth quarter. WFM ASIA BVI Ltd now owns 37,675,992 shares of the company’s stock valued at $188,003,000 after purchasing an additional 4,194,477 shares during the last quarter. 55.52% of the stock is owned by institutional investors.

Grab Stock Performance

NASDAQ:GRAB opened at $3.62 on Friday. The firm’s 50-day moving average is $3.60 and its 200-day moving average is $3.79. Grab Holdings Limited has a 52-week low of $3.18 and a 52-week high of $6.62. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.51 and a current ratio of 1.52. The company has a market cap of $14.83 billion, a price-to-earnings ratio of 60.34, a PEG ratio of 0.95 and a beta of 0.89.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. Grab had a net margin of 15.97% and a return on equity of 8.83%. The business had revenue of $997.00 million during the quarter, compared to analyst estimates of $994.97 million. Equities research analysts anticipate that Grab Holdings Limited will post 0.13 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on GRAB shares. Morgan Stanley reiterated an “overweight” rating and issued a $6.25 price objective on shares of Grab in a research note on Tuesday, June 30th. Benchmark restated a “buy” rating on shares of Grab in a research note on Tuesday, August 4th. JPMorgan Chase & Co. lowered their target price on Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a report on Tuesday, May 5th. Barclays dropped their price target on Grab from $7.00 to $5.00 and set an “overweight” rating on the stock in a research report on Thursday, July 9th. Finally, Mizuho cut their price target on Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Grab currently has an average rating of “Moderate Buy” and an average target price of $6.01.

Insider Activity

In other Grab news, COO Alexander Charles Hungate sold 144,093 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer owned 6,254,023 shares in the company, valued at approximately $21,576,379.35. This trade represents a 2.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony Ping Yeow Tan sold 400,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $3.62, for a total value of $1,448,000.00. Following the completion of the sale, the chief executive officer owned 428,498 shares of the company’s stock, valued at $1,551,162.76. This represents a 48.28% 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. Over the last ninety days, insiders sold 1,586,093 shares of company stock valued at $5,780,881. Corporate insiders own 3.60% of the company’s stock.

Grab Company 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.