OVERSEA CHINESE BANKING Corp Ltd Buys 1,050,619 Shares of Grab Holdings Limited $GRAB

OVERSEA CHINESE BANKING Corp Ltd lifted its position in Grab Holdings Limited (NASDAQ:GRAB) by 9.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,821,595 shares of the company’s stock after purchasing an additional 1,050,619 shares during the period. Grab accounts for about 1.5% of OVERSEA CHINESE BANKING Corp Ltd’s investment portfolio, making the stock its 17th biggest position. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Grab were worth $58,928,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of GRAB. Invesco Ltd. raised its position in Grab by 24.9% during the 3rd 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. State Street Corp grew its position in shares of Grab by 1.8% during the 2nd quarter. State Street Corp now owns 43,322,397 shares of the company’s stock worth $217,912,000 after buying an additional 759,696 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Grab by 173.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 34,753,836 shares of the company’s stock valued at $173,422,000 after buying an additional 22,038,961 shares during the period. WFM ASIA BVI Ltd increased its stake in shares of Grab by 7.4% during the third quarter. WFM ASIA BVI Ltd now owns 33,481,515 shares of the company’s stock valued at $201,559,000 after buying an additional 2,293,000 shares during the period. Finally, Citigroup Inc. raised its holdings in shares of Grab by 112.6% in the third quarter. Citigroup Inc. now owns 32,398,782 shares of the company’s stock valued at $195,041,000 after acquiring an additional 17,160,661 shares in the last quarter. Institutional investors own 55.52% of the company’s stock.

Insider Transactions at Grab

In related news, CFO Peter Henry Oey sold 50,000 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $3.92, for a total transaction of $196,000.00. Following the completion of the sale, the chief financial officer owned 7,050,165 shares of the company’s stock, valued at $27,636,646.80. This represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chin Yin Ong sold 38,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $3.62, for a total transaction of $137,560.00. Following the completion of the sale, the insider owned 2,116,051 shares of the company’s stock, valued at approximately $7,660,104.62. This trade represents a 1.76% 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 552,819 shares of company stock worth $2,056,657. 3.60% of the stock is owned by corporate insiders.

Grab Trading Down 3.1%

Shares of NASDAQ GRAB opened at $4.08 on Wednesday. Grab Holdings Limited has a 1-year low of $3.48 and a 1-year high of $6.62. The business has a fifty day moving average price of $3.92 and a 200 day moving average price of $4.76. The stock has a market capitalization of $16.72 billion, a P/E ratio of 136.05, a price-to-earnings-growth ratio of 1.00 and a beta of 0.99. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.73.

Grab (NASDAQ:GRAB) last posted its earnings results on Wednesday, February 11th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.03. The company had revenue of $906.00 million for the quarter, compared to analyst estimates of $942.08 million. Grab had a return on equity of 4.09% and a net margin of 7.92%. Equities research analysts expect that Grab Holdings Limited will post 0.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GRAB. HSBC raised shares of Grab from a “hold” rating to a “buy” rating and set a $6.20 price objective for the company in a research note on Friday, January 16th. Weiss Ratings restated a “hold (c-)” rating on shares of Grab in a report on Thursday, January 22nd. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $5.80 price target on shares of Grab in a research report on Monday, January 26th. Wall Street Zen upgraded shares of Grab from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, Benchmark reissued a “buy” rating on shares of Grab in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Grab currently has an average rating of “Buy” and an average target price of $6.56.

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.