SEB Asset Management AB Buys New Position in Grab Holdings Limited $GRAB

SEB Asset Management AB bought a new position in shares of Grab Holdings Limited (NASDAQ:GRAB) in the 1st quarter, Holdings Channel reports. The fund bought 497,103 shares of the company’s stock, valued at approximately $1,819,000.

A number of other hedge funds have also added to or reduced their stakes in GRAB. Swiss National Bank boosted its holdings in shares of Grab by 28.2% during the 1st quarter. Swiss National Bank now owns 8,710,000 shares of the company’s stock worth $31,879,000 after buying an additional 1,913,800 shares in the last quarter. Mediolanum International Funds Ltd increased its stake in shares of Grab by 29.4% in the 1st quarter. Mediolanum International Funds Ltd now owns 2,653,055 shares of the company’s stock valued at $9,365,000 after acquiring an additional 602,374 shares in the last quarter. Euro Pacific Asset Management LLC increased its stake in shares of Grab by 73.0% in the 1st quarter. Euro Pacific Asset Management LLC now owns 653,429 shares of the company’s stock valued at $2,408,000 after acquiring an additional 275,684 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Grab by 3.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 15,891,298 shares of the company’s stock valued at $58,321,000 after acquiring an additional 467,000 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of Grab by 62.6% during the 1st quarter. Principal Financial Group Inc. now owns 21,422,123 shares of the company’s stock valued at $78,405,000 after acquiring an additional 8,244,732 shares during the period. 55.52% of the stock is currently owned by institutional investors.

Grab Trading Down 1.5%

NASDAQ:GRAB opened at $3.30 on Friday. Grab Holdings Limited has a 52 week low of $3.18 and a 52 week high of $6.62. The firm has a 50-day moving average price of $3.58 and a two-hundred day moving average price of $3.91. 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 firm has a market cap of $13.52 billion, a price-to-earnings ratio of 330.33, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87.

Grab (NASDAQ:GRAB) last announced its earnings results 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 business had revenue of $955.00 million during the quarter, compared to analysts’ expectations of $921.71 million. Grab had a return on equity of 5.79% and a net margin of 10.67%. On average, equities analysts expect that Grab Holdings Limited will post 0.1 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Anthony Ping Yeow Tan sold 400,000 shares of Grab stock in a transaction on Friday, July 10th. The stock was sold at an average price of $3.91, for a total transaction of $1,564,000.00. Following the sale, the chief executive officer directly owned 28,498 shares in the company, valued at $111,427.18. The trade was a 93.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Philipp Wolfgang Josef Kandal sold 30,000 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $3.53, for a total transaction of $105,900.00. Following the completion of the transaction, the insider directly owned 4,065,430 shares in the company, valued at $14,350,967.90. This trade represents a 0.73% 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. Over the last quarter, insiders sold 1,666,093 shares of company stock worth $6,083,321. 3.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on GRAB. Zacks Research upgraded shares of Grab from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Morgan Stanley reissued an “overweight” rating and issued a $6.25 price objective on shares of Grab in a research note on Tuesday, June 30th. JPMorgan Chase & Co. decreased their price target on shares of Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a research note on Tuesday, May 5th. Barclays dropped their price target on shares of Grab from $7.00 to $5.00 and set an “overweight” rating on the stock in a research report on Thursday, July 9th. Finally, China Renaissance upgraded Grab from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Grab has a consensus rating of “Moderate Buy” and an average price target of $6.01.

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.