Assenagon Asset Management S.A. Reduces Position in Grab Holdings Limited $GRAB

Assenagon Asset Management S.A. decreased its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 21.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 43,221,420 shares of the company’s stock after selling 11,684,951 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Grab were worth $162,945,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Mizuho lowered their price objective on shares of Grab from $7.00 to $6.00 and set an “outperform” rating for the company 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 target price on the stock in a research report on Wednesday, May 6th. Barclays decreased their price target on shares of Grab from $7.00 to $5.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. JPMorgan Chase & Co. lowered their price target on Grab from $5.90 to $5.80 and set an “overweight” rating for the company 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, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Grab currently has an average rating of “Moderate Buy” and an average target price of $6.01.

Grab Stock Performance

Shares of Grab stock opened at $3.67 on Friday. The company has a current ratio of 1.52, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. The stock’s fifty day moving average price is $3.58 and its 200-day moving average price is $3.82. The firm has a market cap of $15.04 billion, a P/E ratio of 61.18, a P/E/G ratio of 1.04 and a beta of 0.89. Grab Holdings Limited has a 12 month low of $3.18 and a 12 month high of $6.62.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Grab had a net margin of 15.97% and a return on equity of 8.83%. The company had revenue of $997.00 million during the quarter, compared to analyst estimates of $994.97 million. On average, equities research analysts expect that Grab Holdings Limited will post 0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Philipp Wolfgang Josef Kandal sold 30,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $3.53, for a total value of $105,900.00. Following the completion of the sale, the insider owned 4,065,430 shares in the company, valued at approximately $14,350,967.90. The trade was a 0.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chin Yin Ong sold 38,000 shares of Grab stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $3.61, for a total transaction of $137,180.00. Following the transaction, the insider directly owned 3,670,611 shares in the company, valued at approximately $13,250,905.71. The trade was a 1.02% 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. In the last 90 days, insiders have sold 1,666,093 shares of company stock worth $6,084,081. 3.60% of the stock is owned by corporate insiders.

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.