Polymer Capital Management HK LTD Cuts Stock Position in Grab Holdings Limited $GRAB

Polymer Capital Management HK LTD lessened its stake in Grab Holdings Limited (NASDAQ:GRAB) by 88.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 148,974 shares of the company’s stock after selling 1,158,890 shares during the period. Polymer Capital Management HK LTD’s holdings in Grab were worth $743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Parallel Advisors LLC grew its stake in shares of Grab by 305.5% during the fourth quarter. Parallel Advisors LLC now owns 6,107 shares of the company’s stock worth $30,000 after acquiring an additional 4,601 shares during the last quarter. Signaturefd LLC grew its stake in shares of Grab by 64.6% during the fourth 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 last quarter. Advocate Investing Services LLC purchased a new stake in shares of Grab during the fourth quarter worth about $35,000. Steward Partners Investment Advisory LLC grew its stake in shares of Grab by 128.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,525 shares of the company’s stock worth $38,000 after acquiring an additional 4,225 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new stake in shares of Grab during the third quarter worth about $38,000. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Insider Transactions at Grab

In related news, insider Philipp Wolfgang Josef Kandal sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $3.54, for a total value of $106,200.00. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony Ping Yeow Tan sold 400,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $3.67, for a total value 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 represents a 94.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,156,819 shares of company stock worth $4,245,017 in the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GRAB. JPMorgan Chase & Co. dropped their price target on Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a research note on Tuesday, May 5th. China Renaissance upgraded Grab from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a research note on Wednesday, May 6th. Zacks Research upgraded Grab from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Morgan Stanley set a $5.90 price target on Grab in a research note on Wednesday, May 6th. Finally, Mizuho dropped their price target on Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. 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 data from MarketBeat, Grab has an average rating of “Moderate Buy” and an average target price of $6.19.

Grab Price Performance

Shares of NASDAQ GRAB opened at $3.30 on Friday. The business’s 50 day moving average price is $3.66 and its 200 day moving average price is $4.22. The firm has a market cap of $13.52 billion, a P/E ratio of 330.33, a P/E/G ratio of 1.52 and a beta of 0.89. Grab Holdings Limited has a 52 week low of $3.18 and a 52 week high of $6.62. The company has a quick ratio of 1.65, a current ratio of 1.67 and a debt-to-equity ratio of 0.06.

Grab (NASDAQ:GRAB) last issued its earnings results 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 analysts’ expectations of $921.71 million. Grab had a net margin of 10.67% and a return on equity of 5.79%. On average, sell-side analysts expect that Grab Holdings Limited will post 0.08 earnings per share for the current year.

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.