Grab Holdings Limited $GRAB Shares Bought by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd grew its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 29.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,653,055 shares of the company’s stock after buying an additional 602,374 shares during the period. Mediolanum International Funds Ltd’s holdings in Grab were worth $9,365,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Integrated Wealth Concepts LLC increased 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 valued at $160,000 after acquiring an additional 23,639 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Grab by 6.1% in the 1st 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 grew its stake in shares of Grab by 6.2% in the 1st 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 acquired a new position in shares of Grab in the first quarter valued at approximately $63,000. Finally, Cetera Investment Advisers increased its holdings 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 purchasing an additional 11,158 shares during the period. Institutional investors and hedge funds own 55.52% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on GRAB shares. Zacks Research upgraded Grab from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Mizuho lowered their price objective on shares of Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. China Renaissance raised shares of Grab from a “hold” rating to a “buy” rating and set a $5.00 price objective on the stock in a research note on Wednesday, May 6th. JPMorgan Chase & Co. cut their price objective on shares of Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a research report on Tuesday, May 5th. Finally, Weiss Ratings upgraded shares of Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $6.01.

Insiders Place Their Bets

In other Grab news, insider Chin Yin Ong sold 48,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $3.55, for a total value of $170,400.00. Following the completion of the sale, the insider owned 3,781,306 shares of the company’s stock, valued at approximately $13,423,636.30. This trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Peter Henry Oey sold 50,000 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $3.54, for a total transaction of $177,000.00. Following the sale, the chief financial officer owned 7,000,165 shares in the company, valued at $24,780,584.10. The trade was a 0.71% decrease in their ownership of the stock. 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 three months, insiders have sold 1,666,093 shares of company stock worth $6,083,321. 3.60% of the stock is owned by insiders.

Grab Stock Performance

Shares of GRAB stock opened at $3.57 on Monday. The company has a market cap of $14.63 billion, a price-to-earnings ratio of 357.36, a price-to-earnings-growth ratio of 1.37 and a beta of 0.87. The stock has a 50 day simple moving average of $3.60 and a 200-day simple moving average of $3.95. Grab Holdings Limited has a 12-month low of $3.18 and a 12-month high of $6.62. The company has a current ratio of 1.67, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06.

Grab (NASDAQ:GRAB) last posted 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). Grab had a net margin of 10.67% and a return on equity of 5.79%. The business had revenue of $955.00 million during the quarter, compared to analysts’ expectations of $921.71 million. On average, equities analysts forecast that Grab Holdings Limited will post 0.1 EPS for the current year.

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.