Hsbc Holdings PLC Acquires 8,331,486 Shares of Grab Holdings Limited $GRAB

Hsbc Holdings PLC increased its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 129.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,786,634 shares of the company’s stock after purchasing an additional 8,331,486 shares during the quarter. Hsbc Holdings PLC owned 0.36% of Grab worth $54,056,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in GRAB. Norges Bank bought a new position in shares of Grab during the fourth quarter valued at about $161,484,000. PointState Capital LP increased its holdings in shares of Grab by 411.1% in the fourth quarter. PointState Capital LP now owns 32,555,483 shares of the company’s stock worth $162,452,000 after buying an additional 26,186,329 shares during the period. Marshall Wace LLP lifted its stake in shares of Grab by 49.2% in the 4th quarter. Marshall Wace LLP now owns 72,453,397 shares of the company’s stock valued at $361,542,000 after acquiring an additional 23,891,108 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Grab by 173.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 34,753,836 shares of the company’s stock valued at $173,422,000 after acquiring an additional 22,038,961 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Grab by 24.9% during the 3rd quarter. Invesco Ltd. now owns 79,797,848 shares of the company’s stock valued at $480,383,000 after acquiring an additional 15,916,063 shares during the period. 55.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on GRAB. Barclays reduced 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. China Renaissance raised Grab from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research note on Wednesday, May 6th. Zacks Research upgraded shares of Grab from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Mizuho decreased their target price 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. Finally, JPMorgan Chase & Co. lowered their price target on shares of Grab from $5.90 to $5.80 and set an “overweight” 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 issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $6.01.

Grab Stock Performance

NASDAQ:GRAB opened at $3.62 on Tuesday. The company has a quick ratio of 1.65, a current ratio of 1.67 and a debt-to-equity ratio of 0.06. The firm’s fifty day simple moving average is $3.60 and its 200 day simple moving average is $3.94. The stock has a market cap of $14.83 billion, a P/E ratio of 362.36, a price-to-earnings-growth ratio of 1.37 and a beta of 0.87. Grab Holdings Limited has a twelve month low of $3.18 and a twelve month high of $6.62.

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

Insider Activity at Grab

In other Grab news, COO Alexander Charles Hungate sold 144,093 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were 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 directly owned 6,254,023 shares in the company, valued at $21,576,379.35. This trade represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 that occurred on Monday, June 15th. The shares were sold at an average price of $3.51, for a total value of $1,404,000.00. Following the sale, the chief executive officer directly owned 425,193 shares in the company, valued at approximately $1,492,427.43. The trade was a 48.47% 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. Insiders have sold 1,666,093 shares of company stock worth $6,083,321 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

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.