Grab Holdings Limited $GRAB Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 3.3% during the fourth quarter, Holdings Channel reports. The firm owned 25,581,834 shares of the company’s stock after acquiring an additional 809,514 shares during the quarter. Geode Capital Management LLC’s holdings in Grab were worth $126,155,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of GRAB. Assenagon Asset Management S.A. raised its holdings in shares of Grab by 173.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 34,753,836 shares of the company’s stock worth $173,422,000 after purchasing an additional 22,038,961 shares during the period. Citigroup Inc. raised its holdings in shares of Grab by 112.6% during the third quarter. Citigroup Inc. now owns 32,398,782 shares of the company’s stock worth $195,041,000 after purchasing an additional 17,160,661 shares during the period. Invesco Ltd. grew its stake 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 buying an additional 15,916,063 shares during the last quarter. Two Creeks Capital Management LP bought a new position in Grab during the 3rd quarter worth $58,170,000. Finally, Ameriprise Financial Inc. grew its stake in Grab by 1,908.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,662,747 shares of the company’s stock worth $34,090,000 after buying an additional 5,380,737 shares during the last quarter. 55.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on GRAB shares. China Renaissance upgraded 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. Morgan Stanley set a $5.90 price target on Grab in a report on Wednesday, May 6th. JPMorgan Chase & Co. cut their price target on Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a report on Tuesday, May 5th. Mizuho cut their price target on Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. Finally, Zacks Research raised Grab from a “strong sell” rating to a “hold” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $6.19.

Grab Trading Up 1.5%

Shares of NASDAQ GRAB opened at $3.46 on Friday. Grab Holdings Limited has a 12 month low of $3.38 and a 12 month high of $6.62. The company has a market cap of $14.18 billion, a price-to-earnings ratio of 346.35, a P/E/G ratio of 1.55 and a beta of 0.89. 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 business has a fifty day simple moving average of $3.70 and a 200-day simple moving average of $4.29.

Grab (NASDAQ:GRAB) last announced its earnings results on Tuesday, May 5th. The company reported ($0.01) 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 analysts’ expectations of $921.71 million. Grab had a net margin of 10.67% and a return on equity of 5.79%. Sell-side analysts predict that Grab Holdings Limited will post 0.08 EPS for the current year.

Insider Transactions at Grab

In other news, CEO Anthony Ping Yeow Tan sold 400,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $3.67, for a total transaction of $1,468,000.00. Following the completion of the sale, the chief executive officer directly owned 25,193 shares of the company’s stock, valued at $92,458.31. This trade represents a 94.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chin Yin Ong sold 48,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $3.55, for a total value of $170,400.00. Following the sale, the insider directly owned 3,781,306 shares of the company’s stock, valued at $13,423,636.30. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,118,819 shares of company stock valued at $4,114,677 over the last 90 days. Company insiders own 3.60% of the company’s stock.

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.