Exchange Traded Concepts LLC Cuts Stake in Grab Holdings Limited $GRAB

Exchange Traded Concepts LLC lowered its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 37.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,130,428 shares of the company’s stock after selling 665,907 shares during the period. Exchange Traded Concepts LLC’s holdings in Grab were worth $5,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Invesco Ltd. grew its stake in Grab by 24.9% during the third quarter. Invesco Ltd. now owns 79,797,848 shares of the company’s stock valued at $480,383,000 after acquiring an additional 15,916,063 shares in the last quarter. State Street Corp lifted its stake in Grab by 1.8% in the 2nd quarter. State Street Corp now owns 43,322,397 shares of the company’s stock worth $217,912,000 after purchasing an additional 759,696 shares in the last quarter. Norges Bank purchased a new stake in Grab in the 2nd quarter worth $175,192,000. Assenagon Asset Management S.A. boosted its holdings in shares of Grab by 173.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 34,753,836 shares of the company’s stock valued at $173,422,000 after purchasing an additional 22,038,961 shares during the last quarter. Finally, WFM ASIA BVI Ltd boosted its holdings in shares of Grab by 7.4% during the 3rd quarter. WFM ASIA BVI Ltd now owns 33,481,515 shares of the company’s stock valued at $201,559,000 after purchasing an additional 2,293,000 shares during the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Insiders Place Their Bets

In related news, CAO John Pierantoni sold 14,819 shares of the firm’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $3.61, for a total value of $53,496.59. Following the completion of the sale, the chief accounting officer directly owned 569,376 shares in the company, valued at $2,055,447.36. This trade represents a 2.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GRAB shares. Wall Street Zen raised Grab from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Benchmark reissued a “buy” rating on shares of Grab in a research note on Thursday, February 12th. Weiss Ratings restated a “hold (c-)” rating on shares of Grab in a report on Thursday, January 22nd. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $5.80 price objective on shares of Grab in a research note on Monday, January 26th. Finally, HSBC raised Grab from a “hold” rating to a “buy” rating and set a $6.20 price objective on the stock in a report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $6.47.

Grab Trading Down 1.1%

Shares of NASDAQ GRAB opened at $3.53 on Tuesday. Grab Holdings Limited has a 1-year low of $3.36 and a 1-year high of $6.62. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.73. The business’s 50 day moving average is $4.12 and its two-hundred day moving average is $5.02. The stock has a market capitalization of $14.46 billion, a P/E ratio of 117.71, a PEG ratio of 0.85 and a beta of 0.93.

Grab (NASDAQ:GRAB) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.03. The business had revenue of $906.00 million during the quarter, compared to analyst estimates of $942.08 million. Grab had a return on equity of 4.09% and a net margin of 7.92%. As a group, research analysts expect that Grab Holdings Limited will post 0.05 EPS for the current year.

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.