Ardmore Road Asset Management LP Has $16.74 Million Stock Position in Grab Holdings Limited $GRAB

Ardmore Road Asset Management LP increased its stake in Grab Holdings Limited (NASDAQ:GRAB) by 119.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,575,000 shares of the company’s stock after purchasing an additional 2,491,417 shares during the quarter. Ardmore Road Asset Management LP’s holdings in Grab were worth $16,744,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of Grab in the fourth quarter worth $25,000. Parallel Advisors LLC lifted its stake in Grab by 305.5% in the 4th quarter. Parallel Advisors LLC now owns 6,107 shares of the company’s stock worth $30,000 after acquiring an additional 4,601 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Grab in the 3rd quarter worth about $38,000. Signaturefd LLC boosted its position in Grab by 64.6% during the 4th quarter. Signaturefd LLC now owns 6,479 shares of the company’s stock worth $32,000 after acquiring an additional 2,543 shares during the period. Finally, Larson Financial Group LLC boosted its position 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 acquiring an additional 6,500 shares during the period. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Price Performance

NASDAQ GRAB opened at $3.31 on Monday. Grab Holdings Limited has a twelve month low of $3.18 and a twelve month high of $6.62. 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 market capitalization of $13.56 billion, a PE ratio of 331.33, a P/E/G ratio of 1.27 and a beta of 0.87. The stock has a 50-day simple moving average of $3.58 and a 200 day simple moving average of $3.90.

Grab (NASDAQ:GRAB) last announced its earnings results on Tuesday, May 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). The business had revenue of $955.00 million for the quarter, compared to the consensus estimate of $921.71 million. Grab had a net margin of 10.67% and a return on equity of 5.79%. Research analysts anticipate that Grab Holdings Limited will post 0.1 EPS for the current year.

Analyst Upgrades and Downgrades

GRAB has been the topic of several research reports. Mizuho dropped 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. Weiss Ratings upgraded shares of Grab from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Barclays lowered their price target on shares of Grab from $7.00 to $5.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. Morgan Stanley reiterated an “overweight” rating and set a $6.25 price objective on shares of Grab in a report on Tuesday, June 30th. Finally, JPMorgan Chase & Co. reduced their price objective on Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Grab presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.01.

Insiders Place Their Bets

In other news, insider Chin Yin Ong sold 48,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $3.55, for a total value of $170,400.00. Following the completion of the sale, the insider directly owned 3,781,306 shares of the company’s stock, valued at approximately $13,423,636.30. This represents a 1.25% decrease in their ownership of the stock. The transaction 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 stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $3.51, for a total value of $1,404,000.00. Following the completion of the sale, the chief executive officer directly owned 425,193 shares of the company’s stock, valued at $1,492,427.43. This represents a 48.47% 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 1,666,093 shares of company stock valued at $6,083,321 in the last three months. 3.60% of the stock is owned by corporate insiders.

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.