Jennison Associates LLC Makes New Investment in Grab Holdings Limited $GRAB

Jennison Associates LLC bought a new position in Grab Holdings Limited (NASDAQ:GRAB) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 3,791,286 shares of the company’s stock, valued at approximately $18,919,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GRAB. Integrated Wealth Concepts LLC grew its stake in Grab by 201.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 35,386 shares of the company’s stock worth $160,000 after acquiring an additional 23,639 shares during the period. Goldman Sachs Group Inc. grew its stake in Grab by 6.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,231,195 shares of the company’s stock worth $41,817,000 after acquiring an additional 529,433 shares during the period. Empowered Funds LLC grew its stake in Grab by 6.2% in the 1st quarter. Empowered Funds LLC now owns 52,698 shares of the company’s stock worth $239,000 after acquiring an additional 3,090 shares during the period. Focus Partners Wealth acquired a new position in shares of Grab in the 1st quarter valued at $63,000. Finally, Cetera Investment Advisers boosted its holdings in shares of Grab by 11.7% in the 2nd quarter. Cetera Investment Advisers now owns 106,710 shares of the company’s stock valued at $537,000 after purchasing an additional 11,158 shares during the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Grab

In related news, CFO Peter Henry Oey sold 50,000 shares of Grab stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $3.92, for a total transaction of $196,000.00. Following the transaction, the chief financial officer owned 7,050,165 shares in the company, valued at approximately $27,636,646.80. The trade was a 0.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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 Grab stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $3.92, for a total transaction of $117,600.00. Following the transaction, the insider owned 4,145,430 shares in the company, valued at $16,250,085.60. The trade was 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. In the last three months, insiders have sold 552,819 shares of company stock worth $2,056,657. Corporate insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

GRAB has been the topic of a number of research analyst reports. Sanford C. Bernstein reiterated an “outperform” rating and issued a $5.80 price target on shares of Grab in a report on Monday, January 26th. JPMorgan Chase & Co. decreased their price target on shares of Grab from $6.10 to $5.90 and set an “overweight” rating on the stock in a report on Monday, April 20th. HSBC upgraded shares of Grab from a “hold” rating to a “buy” rating and set a $6.20 price target on the stock in a report on Friday, January 16th. Benchmark reiterated a “buy” rating on shares of Grab in a report on Thursday, February 12th. Finally, Weiss Ratings lowered shares of Grab from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $6.56.

Grab Stock Down 3.9%

Shares of GRAB opened at $3.67 on Friday. The firm has a market cap of $15.04 billion, a PE ratio of 122.37, a price-to-earnings-growth ratio of 0.90 and a beta of 0.93. The company’s fifty day moving average is $3.87 and its two-hundred day moving average is $4.65. Grab Holdings Limited has a fifty-two week low of $3.48 and a fifty-two week high of $6.62. The company has a quick ratio of 1.73, a current ratio of 1.75 and a debt-to-equity ratio of 0.06.

Grab (NASDAQ:GRAB) last posted its earnings results on Wednesday, February 11th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.03. The business had revenue of $906.00 million for the quarter, compared to analyst estimates of $942.08 million. Grab had a net margin of 7.92% and a return on equity of 4.09%. Analysts forecast that Grab Holdings Limited will post 0.08 earnings per share 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.