32,361,499 Shares in Grab Holdings Limited $GRAB Bought by Norges Bank

Norges Bank purchased a new position in shares of Grab Holdings Limited (NASDAQ:GRAB) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 32,361,499 shares of the company’s stock, valued at approximately $161,484,000.

Other hedge funds have also recently modified their holdings of the company. Advisory Services Network LLC acquired a new stake in shares of Grab during the third quarter worth $38,000. Signaturefd LLC lifted its holdings 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 purchasing an additional 2,543 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Grab by 162,500.0% during the third quarter. Larson Financial Group LLC now owns 6,504 shares of the company’s stock worth $39,000 after purchasing an additional 6,500 shares during the period. Allworth Financial LP lifted its holdings in shares of Grab by 70.9% during the third quarter. Allworth Financial LP now owns 8,085 shares of the company’s stock worth $49,000 after purchasing an additional 3,354 shares during the period. Finally, Global Retirement Partners LLC lifted its holdings in shares of Grab by 66.9% during the fourth quarter. Global Retirement Partners LLC now owns 8,516 shares of the company’s stock worth $42,000 after purchasing an additional 3,414 shares during the period. 55.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GRAB. China Renaissance raised Grab from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a report on Wednesday, May 6th. Benchmark reaffirmed a “buy” rating on shares of Grab in a report on Thursday, February 12th. JPMorgan Chase & Co. decreased their price target on Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a report on Tuesday, May 5th. Weiss Ratings raised Grab from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Finally, Mizuho reduced their target price on Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $6.19.

Grab Trading Down 5.3%

NASDAQ:GRAB opened at $3.41 on Thursday. The company has a market capitalization of $13.97 billion, a PE ratio of 341.34, a price-to-earnings-growth ratio of 1.63 and a beta of 0.89. 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 Holdings Limited has a 52-week low of $3.38 and a 52-week high of $6.62. The stock has a fifty day simple moving average of $3.71 and a 200-day simple moving average of $4.30.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). The firm had revenue of $955.00 million for the quarter, compared to analyst estimates of $921.71 million. Grab had a return on equity of 5.79% and a net margin of 10.67%. On average, equities research analysts expect that Grab Holdings Limited will post 0.08 earnings per share for the current fiscal year.

Insider Transactions at Grab

In other news, CFO Peter Henry Oey sold 50,000 shares of Grab stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $3.92, for a total transaction of $196,000.00. Following the completion of the transaction, the chief financial officer owned 7,050,165 shares of the company’s stock, valued at $27,636,646.80. The trade was a 0.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through 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 Grab stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $3.92, for a total value of $117,600.00. Following the transaction, the insider directly owned 4,145,430 shares of the company’s stock, valued at $16,250,085.60. This trade represents a 0.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 1,118,819 shares of company stock worth $4,114,677. Corporate insiders own 3.60% of the company’s stock.

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.