Axiom Investors LLC DE Has $13.22 Million Stock Holdings in Grab Holdings Limited $GRAB

Axiom Investors LLC DE cut its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 28.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,649,033 shares of the company’s stock after selling 1,066,167 shares during the period. Axiom Investors LLC DE owned about 0.07% of Grab worth $13,219,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in Grab during the 4th quarter worth approximately $161,484,000. Assenagon Asset Management S.A. raised its holdings in Grab by 173.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 34,753,836 shares of the company’s stock worth $173,422,000 after purchasing an additional 22,038,961 shares during the last quarter. Citigroup Inc. raised its holdings in Grab by 112.6% during the 3rd quarter. Citigroup Inc. now owns 32,398,782 shares of the company’s stock worth $195,041,000 after purchasing an additional 17,160,661 shares during the last quarter. Invesco Ltd. raised its holdings in Grab by 24.9% during the 3rd quarter. Invesco Ltd. now owns 79,797,848 shares of the company’s stock worth $480,383,000 after purchasing an additional 15,916,063 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in Grab by 327.0% during the 4th quarter. Franklin Resources Inc. now owns 15,701,389 shares of the company’s stock worth $78,350,000 after purchasing an additional 12,024,099 shares during the last quarter. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Grab

In related news, insider Chin Yin Ong sold 38,000 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $3.43, for a total value of $130,340.00. Following the sale, the insider directly owned 3,743,306 shares in the company, valued at approximately $12,839,539.58. The trade was a 1.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Philipp Wolfgang Josef Kandal sold 30,000 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $3.54, for a total value of $106,200.00. Following the completion of the sale, the insider owned 4,095,430 shares in the company, valued at $14,497,822.20. This represents a 0.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 1,156,819 shares of company stock valued at $4,245,017. 3.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GRAB. 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 note on Tuesday, May 5th. Zacks Research upgraded shares of Grab from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. lowered their price objective on shares of Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a research note on Tuesday, May 5th. Benchmark reiterated a “buy” rating on shares of Grab in a research note on Thursday, February 12th. Finally, China Renaissance upgraded shares of Grab from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research note on Wednesday, May 6th. 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 stock. According to MarketBeat, Grab currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.19.

Grab Price Performance

GRAB opened at $3.30 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.67 and a quick ratio of 1.65. The company has a market capitalization of $13.52 billion, a price-to-earnings ratio of 330.33, a P/E/G ratio of 1.51 and a beta of 0.89. The firm’s fifty day moving average price is $3.68 and its two-hundred day moving average price is $4.25. Grab Holdings Limited has a 1 year low of $3.26 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) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The firm had revenue of $955.00 million for the quarter, compared to analysts’ expectations of $921.71 million. Grab had a return on equity of 5.79% and a net margin of 10.67%. As a group, analysts anticipate that Grab Holdings Limited will post 0.08 earnings per share 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.