Axiom Investors LLC DE Sells 1,066,167 Shares of Grab Holdings Limited $GRAB

Axiom Investors LLC DE trimmed its stake in Grab Holdings Limited (NASDAQ:GRAB) by 28.7% during the 4th quarter, Holdings Channel reports. The firm owned 2,649,033 shares of the company’s stock after selling 1,066,167 shares during the quarter. Axiom Investors LLC DE’s holdings in Grab were worth $13,219,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Allianz Asset Management GmbH boosted its stake in 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 in the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in 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 in the last quarter. Altimeter Capital Management LP purchased a new stake in Grab in the third quarter worth approximately $1,764,000. Citigroup Inc. boosted its stake in 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in 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 in the last quarter. 55.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on GRAB shares. Mizuho cut their target price on Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. Morgan Stanley set a $5.90 target price on Grab in a research note on Wednesday, May 6th. Zacks Research raised Grab from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. China Renaissance raised Grab from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a research note on Wednesday, May 6th. Finally, Benchmark reaffirmed a “buy” rating on shares of Grab in a research note on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Grab presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.19.

Grab Stock Performance

Shares of GRAB stock opened at $3.30 on Wednesday. The stock has a fifty day moving average of $3.68 and a 200 day moving average of $4.25. Grab Holdings Limited has a 52 week low of $3.26 and a 52 week high of $6.62. The firm has a market capitalization of $13.52 billion, a price-to-earnings ratio of 330.33, a PEG ratio of 1.51 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 (NASDAQ:GRAB) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). Grab had a return on equity of 5.79% and a net margin of 10.67%.The business had revenue of $955.00 million during the quarter, compared to analysts’ expectations of $921.71 million. As a group, research analysts expect that Grab Holdings Limited will post 0.08 earnings per share for the current year.

Insider Transactions at Grab

In other Grab news, insider Philipp Wolfgang Josef Kandal sold 30,000 shares of the 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 completion of the transaction, the insider owned 4,145,430 shares in the company, valued at approximately $16,250,085.60. This represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chin Yin Ong sold 48,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $3.55, for a total value of $170,400.00. Following the completion of the transaction, the insider owned 3,781,306 shares of the company’s stock, valued at approximately $13,423,636.30. This trade represents a 1.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,156,819 shares of company stock worth $4,245,017 in the last ninety days. 3.60% of the stock is owned by company insiders.

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.