Grab Holdings Limited $GRAB Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 14.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,455,148 shares of the company’s stock after selling 1,072,141 shares during the quarter. Hsbc Holdings PLC owned about 0.16% of Grab worth $32,218,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GRAB. Invesco Ltd. boosted its holdings in Grab by 24.9% in the third quarter. Invesco Ltd. now owns 79,797,848 shares of the company’s stock valued at $480,383,000 after purchasing an additional 15,916,063 shares in the last quarter. Marshall Wace LLP raised its holdings in Grab by 49.2% during the fourth quarter. Marshall Wace LLP now owns 72,453,397 shares of the company’s stock worth $361,542,000 after purchasing an additional 23,891,108 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Grab by 1.6% during the 4th quarter. JPMorgan Chase & Co. now owns 56,669,014 shares of the company’s stock worth $282,778,000 after buying an additional 878,966 shares during the last quarter. State Street Corp lifted its position in shares of Grab by 5.7% during the 4th quarter. State Street Corp now owns 45,938,139 shares of the company’s stock worth $229,231,000 after buying an additional 2,466,572 shares during the last quarter. Finally, WFM ASIA BVI Ltd lifted its position in shares of Grab by 12.5% during the 4th quarter. WFM ASIA BVI Ltd now owns 37,675,992 shares of the company’s stock worth $188,003,000 after buying an additional 4,194,477 shares during the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

Insider Buying and Selling at Grab

In other news, CEO Anthony Ping Yeow Tan sold 400,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $3.67, for a total transaction of $1,468,000.00. Following the completion of the sale, the chief executive officer owned 25,193 shares in the company, valued at approximately $92,458.31. This represents a 94.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 that occurred on Wednesday, April 15th. The shares were sold at an average price of $3.92, for a total value of $196,000.00. Following the completion of the transaction, the chief financial officer owned 7,050,165 shares in the company, valued at $27,636,646.80. This trade represents a 0.70% decrease in their ownership of the stock. 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 have sold 1,622,000 shares of company stock worth $5,877,920. 3.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GRAB has been the topic of a number of recent analyst reports. 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. Weiss Ratings raised shares of Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Morgan Stanley set a $5.90 price objective on shares of Grab in a research note on Wednesday, May 6th. Zacks Research raised Grab from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Finally, Mizuho cut their target price on Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $6.19.

Grab Stock Performance

Shares of GRAB opened at $3.46 on Wednesday. The company has a current ratio of 1.67, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. The firm has a market cap of $14.18 billion, a PE ratio of 346.35, a price-to-earnings-growth ratio of 1.58 and a beta of 0.89. The company’s 50 day simple moving average is $3.64 and its 200-day simple moving average is $4.12. Grab Holdings Limited has a 12-month low of $3.18 and a 12-month high of $6.62.

Grab (NASDAQ:GRAB) last announced its earnings results on Tuesday, May 5th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The business had revenue of $955.00 million during the quarter, compared to analyst estimates of $921.71 million. Grab had a net margin of 10.67% and a return on equity of 5.79%. As a group, equities analysts predict that Grab Holdings Limited will post 0.08 EPS for the current year.

Grab Company 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.