Hsbc Holdings PLC Raises Stock Holdings in Grab Holdings Limited $GRAB

Hsbc Holdings PLC boosted its position in Grab Holdings Limited (NASDAQ:GRAB) by 129.1% in the first quarter, Holdings Channel.com reports. The firm owned 14,786,634 shares of the company’s stock after buying an additional 8,331,486 shares during the quarter. Hsbc Holdings PLC’s holdings in Grab were worth $54,056,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of Grab in the 4th quarter worth about $25,000. Montag A & Associates Inc. bought a new position in shares of Grab in the 1st quarter worth about $27,000. Parallel Advisors LLC lifted its position in Grab by 305.5% during the 4th quarter. Parallel Advisors LLC now owns 6,107 shares of the company’s stock valued at $30,000 after acquiring an additional 4,601 shares during the period. Signaturefd LLC lifted its position in Grab by 64.6% during the 4th quarter. Signaturefd LLC now owns 6,479 shares of the company’s stock valued at $32,000 after acquiring an additional 2,543 shares during the period. Finally, Advocate Investing Services LLC bought a new stake in Grab during the fourth quarter worth about $35,000. Institutional investors own 55.52% of the company’s stock.

Insiders Place Their Bets

In other news, COO Alexander Charles Hungate sold 144,093 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $3.45, for a total transaction of $497,120.85. Following the transaction, the chief operating officer directly owned 6,254,023 shares of the company’s stock, valued at $21,576,379.35. This represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 on Monday, June 15th. The shares were sold at an average price of $3.51, for a total value of $1,404,000.00. Following the sale, the chief executive officer directly owned 425,193 shares in the company, valued at $1,492,427.43. This trade represents a 48.47% 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. In the last ninety days, insiders sold 1,666,093 shares of company stock valued at $6,083,321. Company insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on GRAB. China Renaissance upgraded shares of Grab from a “hold” rating to a “buy” rating and set a $5.00 price objective on the stock in a report on Wednesday, May 6th. Zacks Research upgraded shares of Grab from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Weiss Ratings raised Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. reduced their price objective on Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a research report on Tuesday, May 5th. Finally, Mizuho lowered their price objective 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 assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Grab has a consensus rating of “Moderate Buy” and an average target price of $6.01.

Grab Price Performance

Shares of NASDAQ GRAB opened at $3.62 on Tuesday. Grab Holdings Limited has a twelve month low of $3.18 and a twelve month high of $6.62. The firm has a market cap of $14.83 billion, a P/E ratio of 362.36, a PEG ratio of 1.37 and a beta of 0.87. The company has a 50 day moving average of $3.60 and a 200 day moving average of $3.94. 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 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 business 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%. As a group, research analysts expect that Grab Holdings Limited will post 0.1 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.