Prudential PLC Sells 319,456 Shares of Grab Holdings Limited $GRAB

Prudential PLC trimmed its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 2.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,954,732 shares of the company’s stock after selling 319,456 shares during the period. Grab accounts for approximately 0.4% of Prudential PLC’s holdings, making the stock its 28th largest position. Prudential PLC owned about 0.27% of Grab worth $54,664,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GRAB. Allianz Asset Management GmbH lifted its stake in shares of Grab by 83.3% in the third quarter. Allianz Asset Management GmbH now owns 967,530 shares of the company’s stock worth $5,825,000 after buying an additional 439,748 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of Grab by 9.8% in the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 11,821,595 shares of the company’s stock worth $58,928,000 after buying an additional 1,050,619 shares during the last quarter. Altimeter Capital Management LP acquired a new stake in shares of Grab in the third quarter worth $1,764,000. Citigroup Inc. lifted its stake in shares of Grab by 112.6% in the third quarter. Citigroup Inc. now owns 32,398,782 shares of the company’s stock worth $195,041,000 after buying an additional 17,160,661 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Grab by 98.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,478,218 shares of the company’s stock worth $37,316,000 after buying an additional 3,711,860 shares during the last quarter. 55.52% of the stock is owned by institutional investors.

Grab Stock Up 1.5%

GRAB opened at $3.46 on Friday. The firm’s 50-day simple moving average is $3.70 and its 200-day simple moving average is $4.29. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 1.67. Grab Holdings Limited has a twelve month low of $3.38 and a twelve month high of $6.62. The firm has a market cap of $14.18 billion, a price-to-earnings ratio of 346.35, a PEG ratio of 1.55 and a beta of 0.89.

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

Analyst Ratings Changes

Several research firms recently commented on GRAB. Weiss Ratings upgraded shares of Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. cut their target price on shares of Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a research note on Tuesday, May 5th. Zacks Research upgraded shares of Grab from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Mizuho cut their target price on shares of Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. Finally, Benchmark reiterated a “buy” rating on shares of Grab in a research note on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $6.19.

Insider Activity at Grab

In other Grab news, insider Chin Yin Ong sold 48,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $3.55, for a total transaction of $170,400.00. Following the transaction, the insider directly owned 3,781,306 shares in the company, valued at approximately $13,423,636.30. This represents a 1.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Anthony Ping Yeow Tan sold 400,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 25,193 shares in the company, valued at $92,458.31. This represents a 94.07% decrease in their ownership of the stock. 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. Insiders sold 1,118,819 shares of company stock worth $4,114,677 in the last quarter. Insiders own 3.60% of the company’s stock.

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.