California Public Employees Retirement System Cuts Stake in Grab Holdings Limited $GRAB

California Public Employees Retirement System cut its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 20.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 3,841,232 shares of the company’s stock after selling 1,016,282 shares during the quarter. California Public Employees Retirement System’s holdings in Grab were worth $14,059,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in Grab in the 4th quarter worth $25,000. Parallel Advisors LLC raised its stake in shares of Grab by 305.5% in the fourth quarter. Parallel Advisors LLC now owns 6,107 shares of the company’s stock worth $30,000 after purchasing an additional 4,601 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Grab during the third quarter worth about $38,000. Signaturefd LLC increased its holdings in Grab by 64.6% in the 4th quarter. Signaturefd LLC now owns 6,479 shares of the company’s stock worth $32,000 after buying an additional 2,543 shares during the period. Finally, Larson Financial Group LLC raised its position in Grab by 162,500.0% during the 3rd quarter. Larson Financial Group LLC now owns 6,504 shares of the company’s stock worth $39,000 after buying an additional 6,500 shares during the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GRAB. Barclays dropped their price objective on shares of Grab from $7.00 to $5.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. Morgan Stanley reaffirmed an “overweight” rating and set a $6.25 price target on shares of Grab in a research report on Tuesday, June 30th. Zacks Research raised Grab from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. 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. 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. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $6.01.

Grab Stock Up 0.3%

Grab stock opened at $3.31 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.67 and a quick ratio of 1.65. The stock has a market capitalization of $13.56 billion, a PE ratio of 331.33, a price-to-earnings-growth ratio of 1.27 and a beta of 0.87. Grab Holdings Limited has a 12 month low of $3.18 and a 12 month high of $6.62. The business has a 50 day simple moving average of $3.58 and a 200-day simple moving average of $3.90.

Grab (NASDAQ:GRAB) last announced its 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 company had revenue of $955.00 million during the quarter, compared to analyst estimates of $921.71 million. Grab had a net margin of 10.67% and a return on equity of 5.79%. On average, analysts anticipate that Grab Holdings Limited will post 0.1 EPS for the current fiscal year.

Insider Transactions at Grab

In other Grab news, insider Chin Yin Ong sold 38,000 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $3.88, for a total value of $147,440.00. Following the transaction, the insider owned 3,708,611 shares in the company, valued at approximately $14,389,410.68. This trade represents a 1.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Peter Henry Oey sold 50,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $3.53, for a total transaction of $176,500.00. Following the sale, the chief financial officer directly owned 6,950,165 shares of the company’s stock, valued at $24,534,082.45. The trade was a 0.71% 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 three months, insiders sold 1,666,093 shares of company stock valued at $6,083,321. 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.