Grab Holdings Limited $GRAB Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC trimmed its stake in Grab Holdings Limited (NASDAQ:GRAB) by 90.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,947 shares of the company’s stock after selling 427,999 shares during the quarter. Lazard Asset Management LLC’s holdings in Grab were worth $165,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in GRAB. Ardmore Road Asset Management LP increased its position in Grab by 119.6% during the 1st quarter. Ardmore Road Asset Management LP now owns 4,575,000 shares of the company’s stock worth $16,744,000 after purchasing an additional 2,491,417 shares in the last quarter. Cannell & Spears LLC raised its stake in Grab by 44.2% in the 1st quarter. Cannell & Spears LLC now owns 173,000 shares of the company’s stock valued at $633,000 after purchasing an additional 53,000 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Grab in the 1st quarter valued at about $48,731,000. Cetera Investment Advisers lifted its holdings in Grab by 71.7% in the 1st quarter. Cetera Investment Advisers now owns 259,248 shares of the company’s stock valued at $949,000 after purchasing an additional 108,292 shares in the last quarter. Finally, Coronation Fund Managers Ltd. lifted its holdings in Grab by 74.5% in the 1st quarter. Coronation Fund Managers Ltd. now owns 32,601,355 shares of the company’s stock valued at $119,321,000 after purchasing an additional 13,919,053 shares in the last quarter. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GRAB has been the subject of a number of recent research reports. Benchmark reiterated a “buy” rating on shares of Grab in a report on Tuesday. Morgan Stanley reissued an “overweight” rating and set a $6.25 price objective on shares of Grab in a research note on Tuesday, June 30th. Zacks Research upgraded shares of Grab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. China Renaissance raised shares of Grab from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a research note on Wednesday, May 6th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Grab in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $6.01.

Insider Activity at Grab

In related news, insider Chin Yin Ong sold 38,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $3.61, for a total value of $137,180.00. Following the transaction, the insider directly owned 3,670,611 shares of the company’s stock, valued at approximately $13,250,905.71. This trade represents a 1.02% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Peter Henry Oey sold 50,000 shares of Grab stock in a transaction on Monday, June 15th. The shares were sold at an average price of $3.53, for a total value of $176,500.00. Following the completion of the transaction, the chief financial officer owned 6,950,165 shares in the company, valued at $24,534,082.45. The trade was a 0.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,666,093 shares of company stock worth $6,084,081. 3.60% of the stock is owned by corporate insiders.

Grab Price Performance

GRAB opened at $3.66 on Friday. The company’s 50 day simple moving average is $3.58 and its 200 day simple moving average is $3.82. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 1.52. Grab Holdings Limited has a 1 year low of $3.18 and a 1 year high of $6.62. The stock has a market capitalization of $15.00 billion, a PE ratio of 61.01, a P/E/G ratio of 0.91 and a beta of 0.89.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. The firm had revenue of $997.00 million during the quarter, compared to analyst estimates of $994.97 million. Grab had a net margin of 15.97% and a return on equity of 8.83%. As a group, sell-side analysts expect that Grab Holdings Limited will post 0.13 EPS for the current 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.