Swedbank AB Acquires 135,185 Shares of Grab Holdings Limited $GRAB

Swedbank AB lifted its stake in Grab Holdings Limited (NASDAQ:GRAB) by 17.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 907,688 shares of the company’s stock after acquiring an additional 135,185 shares during the period. Swedbank AB’s holdings in Grab were worth $3,322,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Integrated Wealth Concepts LLC grew its position in 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. increased its holdings in shares of 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 raised its position in shares of 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 buying an additional 3,090 shares during the last quarter. Focus Partners Wealth acquired a new position in shares of Grab during the first quarter valued at about $63,000. Finally, Cetera Investment Advisers lifted its stake in shares of Grab by 11.7% in the second quarter. Cetera Investment Advisers now owns 106,710 shares of the company’s stock valued at $537,000 after buying an additional 11,158 shares during the period. Institutional investors own 55.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Barclays decreased their target price on Grab from $7.00 to $5.00 and set an “overweight” rating on the stock in a research report on Thursday. Zacks Research upgraded Grab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Morgan Stanley reissued an “overweight” rating and set a $6.25 price objective on shares of Grab in a report on Tuesday, June 30th. JPMorgan Chase & Co. lowered their price objective on Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a research report on Tuesday, May 5th. Finally, Mizuho cut their target price on Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $6.01.

Grab Price Performance

GRAB stock traded up $0.05 during trading on Friday, hitting $3.93. The company had a trading volume of 24,877,387 shares, compared to its average volume of 49,513,704. The company has a fifty day moving average price of $3.60 and a two-hundred day moving average price of $4.01. The company has a current ratio of 1.67, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. The company has a market cap of $16.10 billion, a P/E ratio of 393.39, a P/E/G ratio of 1.55 and a beta of 0.87. Grab Holdings Limited has a fifty-two week low of $3.18 and a fifty-two week high of $6.62.

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

Insider Buying and Selling

In other news, insider Chin Yin Ong sold 38,000 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $3.88, for a total value of $147,440.00. Following the sale, the insider owned 3,708,611 shares of the company’s stock, valued at approximately $14,389,410.68. This represents a 1.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $3.51, for a total transaction of $1,404,000.00. Following the sale, the chief executive officer owned 425,193 shares of the company’s stock, valued at $1,492,427.43. This trade represents a 48.47% 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. Insiders have sold 1,366,093 shares of company stock worth $4,912,921 in the last three months. Company insiders own 3.60% of the company’s stock.

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.