Park Avenue Securities LLC Sells 980,257 Shares of Grab Holdings Limited $GRAB

Park Avenue Securities LLC reduced its position in Grab Holdings Limited (NASDAQ:GRAB) by 91.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 89,426 shares of the company’s stock after selling 980,257 shares during the period. Park Avenue Securities LLC’s holdings in Grab were worth $446,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GRAB. Advisory Services Network LLC bought a new position in Grab in the third quarter valued at about $38,000. Larson Financial Group LLC raised its holdings in Grab by 162,500.0% during the 3rd quarter. Larson Financial Group LLC now owns 6,504 shares of the company’s stock worth $39,000 after purchasing an additional 6,500 shares during the last quarter. Allworth Financial LP lifted its position in Grab by 70.9% during the 3rd quarter. Allworth Financial LP now owns 8,085 shares of the company’s stock valued at $49,000 after purchasing an additional 3,354 shares during the period. Orion Porfolio Solutions LLC bought a new position in shares of Grab in the 2nd quarter valued at about $54,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Grab by 98.9% during the second quarter. EverSource Wealth Advisors LLC now owns 11,797 shares of the company’s stock worth $59,000 after buying an additional 5,866 shares during the last quarter. Institutional investors own 55.52% of the company’s stock.

Grab Trading Down 3.8%

NASDAQ:GRAB opened at $3.57 on Friday. The business’s 50-day simple moving average is $4.13 and its 200-day simple moving average is $5.04. Grab Holdings Limited has a fifty-two week low of $3.36 and a fifty-two week high of $6.62. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.73. The stock has a market capitalization of $14.63 billion, a PE ratio of 119.04, a price-to-earnings-growth ratio of 0.80 and a beta of 0.93.

Grab (NASDAQ:GRAB) last announced its earnings results on Wednesday, February 11th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.01 by $0.03. The firm had revenue of $906.00 million for the quarter, compared to the consensus estimate of $942.08 million. Grab had a net margin of 7.92% and a return on equity of 4.09%. Sell-side analysts expect that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GRAB has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Grab in a research note on Thursday, January 22nd. Wall Street Zen upgraded Grab from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Sanford C. Bernstein restated an “outperform” rating and set a $5.80 target price on shares of Grab in a report on Monday, January 26th. HSBC raised Grab from a “hold” rating to a “buy” rating and set a $6.20 price target for the company in a research note on Friday, January 16th. Finally, Benchmark reaffirmed a “buy” rating on shares of Grab in a research note on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $6.47.

Insider Buying and Selling

In related news, CAO John Pierantoni sold 14,819 shares of the business’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $3.61, for a total value of $53,496.59. Following the sale, the chief accounting officer directly owned 569,376 shares of the company’s stock, valued at approximately $2,055,447.36. The trade was a 2.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.60% of the company’s stock.

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.