Polar Capital Holdings Plc Buys 1,341,345 Shares of Grab Holdings Limited $GRAB

Polar Capital Holdings Plc grew its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 10.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 14,388,355 shares of the company’s stock after acquiring an additional 1,341,345 shares during the period. Polar Capital Holdings Plc’s holdings in Grab were worth $71,798,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Parallel Advisors LLC grew its stake in Grab by 305.5% in the fourth quarter. Parallel Advisors LLC now owns 6,107 shares of the company’s stock worth $30,000 after purchasing an additional 4,601 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Grab by 64.6% in the 4th quarter. Signaturefd LLC now owns 6,479 shares of the company’s stock worth $32,000 after buying an additional 2,543 shares during the period. Advocate Investing Services LLC purchased a new stake in shares of Grab in the 4th quarter worth $35,000. Steward Partners Investment Advisory LLC grew its position in shares of Grab by 128.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,525 shares of the company’s stock worth $38,000 after buying an additional 4,225 shares in the last quarter. Finally, Advisory Services Network LLC bought a new position in shares of Grab during the 3rd quarter worth $38,000. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Insider Activity

In related news, insider Philipp Wolfgang Josef Kandal sold 30,000 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $3.54, for a total transaction of $106,200.00. Following the completion of the sale, the insider owned 4,095,430 shares of the company’s stock, valued at $14,497,822.20. This represents a 0.73% 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, CEO Anthony Ping Yeow Tan sold 400,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $3.51, for a total transaction of $1,404,000.00. Following the completion of the sale, the chief executive officer owned 425,193 shares of the company’s stock, valued at approximately $1,492,427.43. This trade represents a 48.47% 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. Insiders have sold a total of 1,556,819 shares of company stock valued at $5,649,017 over the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Grab Trading Up 0.9%

GRAB opened at $3.49 on Wednesday. The company has a current ratio of 1.67, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. The firm has a market cap of $14.30 billion, a price-to-earnings ratio of 349.35, a PEG ratio of 1.57 and a beta of 0.89. Grab Holdings Limited has a 12 month low of $3.18 and a 12 month high of $6.62. The stock has a fifty day moving average price of $3.66 and a 200-day moving average price of $4.19.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The company 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%. As a group, equities research analysts anticipate that Grab Holdings Limited will post 0.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on GRAB. Zacks Research upgraded Grab from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. JPMorgan Chase & Co. cut their target price on shares of Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a research report on Tuesday, May 5th. Morgan Stanley set a $5.90 price target on shares of Grab in a report on Wednesday, May 6th. Weiss Ratings raised shares of Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $6.19.

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.