NFJ Investment Group LLC Acquires New Position in Grab Holdings Limited $GRAB

NFJ Investment Group LLC acquired a new stake in shares of Grab Holdings Limited (NASDAQ:GRAB) during the fourth quarter, Holdings Channel.com reports. The fund acquired 1,178,918 shares of the company’s stock, valued at approximately $5,883,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OVERSEA CHINESE BANKING Corp Ltd grew its position in Grab by 9.8% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 11,821,595 shares of the company’s stock valued at $58,928,000 after purchasing an additional 1,050,619 shares in the last quarter. Altimeter Capital Management LP purchased a new position in Grab during the third quarter valued at approximately $1,764,000. Citigroup Inc. grew its position in Grab by 112.6% during the third quarter. Citigroup Inc. now owns 32,398,782 shares of the company’s stock valued at $195,041,000 after purchasing an additional 17,160,661 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Grab by 98.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,478,218 shares of the company’s stock valued at $37,316,000 after purchasing an additional 3,711,860 shares in the last quarter. Finally, Oaktree Capital Management LP grew its position in Grab by 4.5% during the third quarter. Oaktree Capital Management LP now owns 12,094,495 shares of the company’s stock valued at $72,809,000 after purchasing an additional 525,200 shares in the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GRAB has been the subject of several recent research reports. Morgan Stanley set a $5.90 target price on shares of Grab in a research report on Wednesday, May 6th. JPMorgan Chase & Co. decreased their target price on shares of Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a research report on Tuesday, May 5th. China Renaissance raised shares of Grab from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a research 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 decreased their target price on shares of Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned 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 a consensus target price of $6.19.

Insider Activity

In related news, CFO Peter Henry Oey sold 50,000 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $3.54, for a total transaction of $177,000.00. Following the completion of the transaction, the chief financial officer directly owned 7,000,165 shares in the company, valued at $24,780,584.10. This represents a 0.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $3.67, for a total transaction of $1,468,000.00. Following the transaction, the chief executive officer owned 25,193 shares of the company’s stock, valued at approximately $92,458.31. The trade was a 94.07% 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. Insiders sold a total of 1,156,819 shares of company stock valued at $4,245,017 in the last quarter. 3.60% of the stock is currently owned by corporate insiders.

Grab Price Performance

NASDAQ GRAB opened at $3.30 on Friday. 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 company has a fifty day simple moving average of $3.66 and a 200 day simple moving average of $4.22. The company has a market cap of $13.52 billion, a P/E ratio of 330.33, a P/E/G ratio of 1.50 and a beta of 0.89. Grab Holdings Limited has a 1 year low of $3.18 and a 1 year high of $6.62.

Grab (NASDAQ:GRAB) last posted its quarterly earnings data 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 the consensus estimate of $921.71 million. Grab had a return on equity of 5.79% and a net margin of 10.67%. On average, sell-side analysts predict that Grab Holdings Limited will post 0.08 EPS for the current year.

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.