Grab Holdings Limited $GRAB Stock Position Increased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its position in shares of Grab Holdings Limited (NASDAQ:GRAB) by 58.0% in the first quarter, HoldingsChannel reports. The firm owned 54,906,371 shares of the company’s stock after acquiring an additional 20,152,535 shares during the period. Assenagon Asset Management S.A.’s holdings in Grab were worth $200,957,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling

In other Grab news, insider Chin Yin Ong sold 48,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $3.55, for a total value of $170,400.00. Following the sale, the insider directly owned 3,781,306 shares in the company, valued at approximately $13,423,636.30. The trade was a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Anthony Ping Yeow Tan sold 400,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was 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 trade represents a 94.07% 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. Insiders have sold a total of 1,622,000 shares of company stock valued at $5,877,920 over the last three months. Company insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GRAB shares. China Renaissance upgraded Grab from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a research report on Wednesday, May 6th. JPMorgan Chase & Co. lowered their price target on Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a report on Tuesday, May 5th. Weiss Ratings upgraded shares of Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Mizuho cut their price objective on shares of Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Finally, Zacks Research raised shares of Grab from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. One research 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. Based on data from MarketBeat.com, Grab has an average rating of “Moderate Buy” and an average price target of $6.19.

Grab Stock Performance

Shares of NASDAQ GRAB opened at $3.49 on Thursday. The stock has a fifty day moving average price of $3.64 and a two-hundred day moving average price of $4.11. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 1.67. The firm has a market cap of $14.30 billion, a P/E ratio of 349.35, a PEG ratio of 1.57 and a beta of 0.89. Grab Holdings Limited has a 1 year low of $3.18 and a 1 year high of $6.62.

Grab (NASDAQ:GRAB) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The firm had revenue of $955.00 million during the quarter, compared to the consensus estimate of $921.71 million. Grab had a return on equity of 5.79% and a net margin of 10.67%. Research analysts forecast that Grab Holdings Limited will post 0.08 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.