Royal Bank of Canada Sells 6,596,385 Shares of Grab Holdings Limited $GRAB

Royal Bank of Canada reduced its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 79.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,710,131 shares of the company’s stock after selling 6,596,385 shares during the period. Royal Bank of Canada’s holdings in Grab were worth $6,259,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Norges Bank bought a new stake in Grab in the 4th quarter valued at $161,484,000. PointState Capital LP boosted its position in shares of Grab by 411.1% during 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 raised its position in 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 buying an additional 23,891,108 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Grab by 58.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 54,906,371 shares of the company’s stock valued at $200,957,000 after acquiring an additional 20,152,535 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Grab by 24.9% during the 3rd quarter. Invesco Ltd. now owns 79,797,848 shares of the company’s stock worth $480,383,000 after acquiring an additional 15,916,063 shares during the last quarter. Institutional investors own 55.52% of the company’s stock.

Insider Buying and Selling at Grab

In other news, CFO Peter Henry Oey sold 50,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $3.53, for a total transaction of $176,500.00. Following the completion of the sale, the chief financial officer owned 6,950,165 shares in the company, valued at approximately $24,534,082.45. This trade represents a 0.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Philipp Wolfgang Josef Kandal sold 30,000 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $3.53, for a total transaction of $105,900.00. Following the completion of the transaction, the insider owned 4,065,430 shares in the company, valued at approximately $14,350,967.90. This trade represents a 0.73% decrease in their position. 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 ninety days, insiders have sold 1,266,093 shares of company stock worth $4,616,081. 3.60% of the stock is currently owned by corporate insiders.

Grab Trading Up 1.9%

Shares of NASDAQ:GRAB opened at $3.74 on Wednesday. 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 capitalization of $15.33 billion, a P/E ratio of 62.34, a price-to-earnings-growth ratio of 0.96 and a beta of 0.89. The company has a 50-day simple moving average of $3.58 and a 200 day simple moving average of $3.80.

Grab (NASDAQ:GRAB) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Grab had a return on equity of 8.83% and a net margin of 15.97%.The firm had revenue of $997.00 million for the quarter, compared to the consensus estimate of $994.97 million. Sell-side analysts forecast that Grab Holdings Limited will post 0.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GRAB. JPMorgan Chase & Co. cut their price objective on shares of Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a research report on Tuesday, May 5th. Morgan Stanley restated an “overweight” rating and set a $6.25 price objective on shares of Grab in a research note on Tuesday, June 30th. Barclays decreased their price objective on Grab from $7.00 to $5.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Grab in a research report on Monday, August 3rd. Finally, China Renaissance raised Grab from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.01.

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.