Grab Holdings Limited $GRAB Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lessened its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 2.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 75,704,469 shares of the company’s stock after selling 1,754,545 shares during the quarter. Wellington Management Group LLP owned about 1.85% of Grab worth $285,406,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Integrated Wealth Concepts LLC grew its stake in shares of Grab by 201.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 35,386 shares of the company’s stock worth $160,000 after purchasing an additional 23,639 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Grab by 6.1% during the first quarter. Goldman Sachs Group Inc. now owns 9,231,195 shares of the company’s stock valued at $41,817,000 after purchasing an additional 529,433 shares during the last quarter. Empowered Funds LLC lifted its stake in Grab by 6.2% during the first quarter. Empowered Funds LLC now owns 52,698 shares of the company’s stock valued at $239,000 after purchasing an additional 3,090 shares during the last quarter. Focus Partners Wealth bought a new stake in Grab during the first quarter worth approximately $63,000. Finally, Cetera Investment Advisers boosted its holdings in Grab by 11.7% during the second quarter. Cetera Investment Advisers now owns 106,710 shares of the company’s stock worth $537,000 after buying an additional 11,158 shares in the last quarter. Institutional investors own 55.52% of the company’s stock.

Grab Price Performance

NASDAQ:GRAB opened at $3.61 on Monday. Grab Holdings Limited has a 1-year low of $3.18 and a 1-year high of $6.62. The firm has a market capitalization of $14.79 billion, a price-to-earnings ratio of 60.18, a PEG ratio of 0.95 and a beta of 0.89. The company has a current ratio of 1.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.06. The business’s fifty day moving average price is $3.63 and its 200 day moving average price is $3.73.

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

Insider Buying and Selling at Grab

In related news, insider Chin Yin Ong sold 38,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $3.61, for a total transaction of $137,180.00. Following the transaction, the insider directly owned 3,670,611 shares of the company’s stock, valued at approximately $13,250,905.71. The trade was a 1.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 that occurred on Friday, August 14th. The shares were sold at an average price of $3.64, for a total transaction of $109,200.00. Following the completion of the transaction, the insider owned 3,988,735 shares in the company, valued at approximately $14,518,995.40. This represents a 0.75% 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. Insiders sold a total of 1,618,093 shares of company stock valued at $5,899,681 in the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Barclays dropped their price target on Grab from $7.00 to $5.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. China Renaissance raised Grab from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a research report on Wednesday, May 6th. Mizuho reduced their target price on Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Zacks Research upgraded Grab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Finally, Morgan Stanley reissued an “overweight” rating and issued a $6.25 price target on shares of Grab in a research note on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $6.01.

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.