Grab Holdings Limited $GRAB Stake Decreased by Hsbc Holdings PLC

Hsbc Holdings PLC cut its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 14.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,455,148 shares of the company’s stock after selling 1,072,141 shares during the period. Hsbc Holdings PLC’s holdings in Grab were worth $32,218,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pitcairn Co. raised its stake in Grab by 11.0% during the 2nd quarter. Pitcairn Co. now owns 20,964 shares of the company’s stock valued at $105,000 after acquiring an additional 2,080 shares in the last quarter. Adalta Capital Management LLC boosted its position in Grab by 2.2% during the 3rd quarter. Adalta Capital Management LLC now owns 100,880 shares of the company’s stock worth $607,000 after acquiring an additional 2,200 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Grab by 7.7% in the second quarter. Thrivent Financial for Lutherans now owns 32,099 shares of the company’s stock worth $161,000 after purchasing an additional 2,300 shares in the last quarter. Soros Fund Management LLC grew its stake in shares of Grab by 19.7% in the second quarter. Soros Fund Management LLC now owns 14,677 shares of the company’s stock worth $74,000 after purchasing an additional 2,419 shares in the last quarter. Finally, Corient Private Wealth LLC increased its holdings in shares of Grab by 1.9% during the fourth quarter. Corient Private Wealth LLC now owns 129,144 shares of the company’s stock valued at $643,000 after purchasing an additional 2,469 shares during the period. 55.52% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Grab news, COO Alexander Charles Hungate sold 144,093 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $3.45, for a total transaction of $497,120.85. Following the completion of the sale, the chief operating officer directly owned 6,254,023 shares of the company’s stock, valued at approximately $21,576,379.35. This represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chin Yin Ong sold 48,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $3.55, for a total transaction of $170,400.00. Following the sale, the insider directly owned 3,781,306 shares of the company’s stock, valued at $13,423,636.30. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 1,766,093 shares of company stock worth $6,384,921. Company insiders own 3.60% of the company’s stock.

Grab Price Performance

Shares of NASDAQ:GRAB opened at $3.89 on Tuesday. The company has a market capitalization of $15.94 billion, a PE ratio of 389.49, a price-to-earnings-growth ratio of 1.54 and a beta of 0.87. 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 stock has a fifty day moving average of $3.59 and a 200-day moving average of $4.03. Grab Holdings Limited has a one year low of $3.18 and a one year high of $6.62.

Grab (NASDAQ:GRAB) last issued its earnings results 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 company had revenue of $955.00 million during the quarter, compared to analyst estimates of $921.71 million. Grab had a return on equity of 5.79% and a net margin of 10.67%. As a group, equities analysts anticipate that Grab Holdings Limited will post 0.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GRAB has been the topic of a number of recent analyst reports. Morgan Stanley restated an “overweight” rating and set a $6.25 price objective on shares of Grab in a research note on Tuesday, June 30th. China Renaissance upgraded shares of Grab from a “hold” rating to a “buy” rating and set a $5.00 target price for the company 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 note on Wednesday, May 6th. JPMorgan Chase & Co. lowered their target price on shares of Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a research note on Tuesday, May 5th. Finally, Zacks Research upgraded shares of Grab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $6.23.

About Grab

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.