13,314,435 Shares in Grab Holdings Limited $GRAB Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC acquired a new position in shares of Grab Holdings Limited (NASDAQ:GRAB) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 13,314,435 shares of the company’s stock, valued at approximately $48,731,000.

A number of other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in shares of Grab in the fourth quarter valued at approximately $161,484,000. PointState Capital LP boosted its stake in shares of Grab by 411.1% in the fourth quarter. PointState Capital LP now owns 32,555,483 shares of the company’s stock worth $162,452,000 after acquiring an additional 26,186,329 shares during the last quarter. Marshall Wace LLP increased its position in shares of Grab by 49.2% during the fourth quarter. Marshall Wace LLP now owns 72,453,397 shares of the company’s stock worth $361,542,000 after purchasing an additional 23,891,108 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Grab by 58.0% during the first quarter. Assenagon Asset Management S.A. now owns 54,906,371 shares of the company’s stock worth $200,957,000 after purchasing an additional 20,152,535 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Grab by 24.9% in the 3rd quarter. Invesco Ltd. now owns 79,797,848 shares of the company’s stock valued at $480,383,000 after purchasing an additional 15,916,063 shares during the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Peter Henry Oey sold 50,000 shares of Grab 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 transaction, the chief financial officer owned 6,950,165 shares in the company, valued at $24,534,082.45. The trade was a 0.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 business’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $3.91, for a total transaction of $1,564,000.00. Following the transaction, the chief executive officer directly owned 28,498 shares in the company, valued at approximately $111,427.18. The trade was a 93.35% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 1,666,093 shares of company stock worth $6,083,321. 3.60% of the stock is currently owned by company insiders.

Grab Price Performance

NASDAQ:GRAB opened at $3.35 on Tuesday. Grab Holdings Limited has a one year low of $3.18 and a one year high of $6.62. The stock has a market cap of $13.73 billion, a PE ratio of 335.34, a P/E/G ratio of 1.27 and a beta of 0.87. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 1.67. The stock has a 50 day moving average price of $3.57 and a 200 day moving average price of $3.88.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The company had revenue of $955.00 million for the quarter, compared to analyst estimates of $921.71 million. Grab had a return on equity of 5.79% and a net margin of 10.67%. Equities research analysts expect that Grab Holdings Limited will post 0.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GRAB has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their price objective on Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a report on Tuesday, May 5th. Barclays dropped their target price on shares of Grab from $7.00 to $5.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. China Renaissance upgraded 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. Mizuho decreased their price target on shares of Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Finally, Zacks Research upgraded shares of Grab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $6.01.

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.