Massachusetts Financial Services Co. MA Has $68.20 Million Stock Position in Grab Holdings Limited $GRAB

Massachusetts Financial Services Co. MA increased its position in shares of Grab Holdings Limited (NASDAQ:GRAB) by 16.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,687,253 shares of the company’s stock after buying an additional 2,486,750 shares during the period. Massachusetts Financial Services Co. MA owned 0.43% of Grab worth $68,200,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GRAB. Handelsbanken Fonder AB raised its holdings in Grab by 4.4% in the 2nd quarter. Handelsbanken Fonder AB now owns 1,318,982 shares of the company’s stock worth $4,973,000 after acquiring an additional 55,534 shares during the period. Rathbones Group PLC lifted its position in Grab by 74.4% during the 1st quarter. Rathbones Group PLC now owns 32,172 shares of the company’s stock worth $118,000 after acquiring an additional 13,728 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Grab by 277.1% during the first quarter. Parallel Advisors LLC now owns 23,032 shares of the company’s stock valued at $84,000 after acquiring an additional 16,925 shares during the period. NewEdge Advisors LLC boosted its holdings in Grab by 80.1% during the first quarter. NewEdge Advisors LLC now owns 62,924 shares of the company’s stock valued at $230,000 after acquiring an additional 27,976 shares during the period. Finally, Serenity Investment Advisors acquired a new stake in shares of Grab in the first quarter valued at about $58,000. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GRAB has been the topic of a number of recent analyst reports. Zacks Research upgraded Grab from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Barclays decreased their target price on Grab from $7.00 to $5.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Grab in a report on Monday, August 3rd. China Renaissance raised Grab from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a report on Wednesday, May 6th. Finally, 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 report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.01.

Grab Price Performance

Shares of Grab stock opened at $3.62 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.52 and a quick ratio of 1.51. Grab Holdings Limited has a fifty-two week low of $3.18 and a fifty-two week high of $6.62. The firm has a fifty day moving average price of $3.60 and a two-hundred day moving average price of $3.79. The company has a market cap of $14.83 billion, a PE ratio of 60.34, a price-to-earnings-growth ratio of 0.97 and a beta of 0.89.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. The company had revenue of $997.00 million for the quarter, compared to analyst estimates of $994.97 million. Grab had a net margin of 15.97% and a return on equity of 8.83%. Analysts expect that Grab Holdings Limited will post 0.13 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Peter Henry Oey sold 50,000 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 $176,500.00. Following the transaction, the chief financial officer directly owned 6,950,165 shares in the company, valued at $24,534,082.45. The trade was a 0.71% decrease in their ownership of the stock. The sale 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 Philipp Wolfgang Josef Kandal sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $3.53, for a total value of $105,900.00. Following the completion of the transaction, the insider directly owned 4,065,430 shares of the company’s stock, valued at approximately $14,350,967.90. This trade represents a 0.73% 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 1,586,093 shares of company stock valued at $5,780,881 in the last quarter. 3.60% of the stock is currently owned by 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.