WFM ASIA BVI Ltd Buys 4,194,477 Shares of Grab Holdings Limited $GRAB

WFM ASIA BVI Ltd boosted its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 12.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 37,675,992 shares of the company’s stock after purchasing an additional 4,194,477 shares during the quarter. Grab comprises approximately 23.3% of WFM ASIA BVI Ltd’s holdings, making the stock its 2nd biggest position. WFM ASIA BVI Ltd’s holdings in Grab were worth $188,003,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GRAB. Integrated Wealth Concepts LLC grew its position in Grab by 201.2% during 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 period. Goldman Sachs Group Inc. grew its position in Grab by 6.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,231,195 shares of the company’s stock worth $41,817,000 after purchasing an additional 529,433 shares during the period. Empowered Funds LLC grew its position in Grab by 6.2% during the 1st quarter. Empowered Funds LLC now owns 52,698 shares of the company’s stock worth $239,000 after purchasing an additional 3,090 shares during the period. Focus Partners Wealth acquired a new stake in shares of Grab during the 1st quarter valued at about $63,000. Finally, Cetera Investment Advisers grew its position in shares of Grab by 11.7% during the 2nd quarter. Cetera Investment Advisers now owns 106,710 shares of the company’s stock valued at $537,000 after acquiring an additional 11,158 shares during the period. 55.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GRAB has been the topic of a number of analyst reports. China Renaissance upgraded 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. Morgan Stanley set a $5.90 target price on Grab in a research report on Wednesday, May 6th. JPMorgan Chase & Co. dropped their target price on Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a research 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, Mizuho dropped their target price on Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $6.19.

Insider Activity at Grab

In related news, CEO Anthony Ping Yeow Tan sold 400,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $3.67, for a total value of $1,468,000.00. Following the transaction, the chief executive officer directly owned 25,193 shares of the company’s stock, valued at approximately $92,458.31. This trade represents a 94.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 firm’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $3.92, for a total transaction of $117,600.00. Following the completion of the transaction, the insider directly owned 4,145,430 shares in the company, valued at $16,250,085.60. This represents a 0.72% 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. Over the last 90 days, insiders sold 1,156,819 shares of company stock valued at $4,245,017. 3.60% of the stock is owned by corporate insiders.

Grab Price Performance

NASDAQ:GRAB opened at $3.35 on Friday. The stock has a market capitalization of $13.73 billion, a PE ratio of 335.34, a price-to-earnings-growth ratio of 1.48 and a beta of 0.89. Grab Holdings Limited has a 52 week low of $3.18 and a 52 week high of $6.62. The stock’s 50-day moving average price is $3.67 and its 200-day moving average price is $4.22. The company has a quick ratio of 1.65, a current ratio of 1.67 and a debt-to-equity ratio of 0.06.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The company had revenue of $955.00 million during the quarter, compared to analysts’ expectations of $921.71 million. Grab had a net margin of 10.67% and a return on equity of 5.79%. As a group, equities analysts expect that Grab Holdings Limited will post 0.08 EPS for the current fiscal year.

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.