Grab Holdings Limited $GRAB Shares Acquired by Ardmore Road Asset Management LP

Ardmore Road Asset Management LP lifted its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 119.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,575,000 shares of the company’s stock after purchasing an additional 2,491,417 shares during the period. Ardmore Road Asset Management LP owned about 0.11% of Grab worth $16,744,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Integrated Wealth Concepts LLC boosted its holdings in shares of Grab by 201.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 35,386 shares of the company’s stock valued at $160,000 after buying an additional 23,639 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Grab by 6.1% during the first quarter. Goldman Sachs Group Inc. now owns 9,231,195 shares of the company’s stock valued at $41,817,000 after purchasing an additional 529,433 shares during the last quarter. Empowered Funds LLC raised its position in shares of Grab by 6.2% during the 1st quarter. Empowered Funds LLC now owns 52,698 shares of the company’s stock worth $239,000 after purchasing an additional 3,090 shares during the period. Focus Partners Wealth acquired a new stake in shares of Grab during the 1st quarter worth approximately $63,000. Finally, Cetera Investment Advisers raised its position in shares of Grab by 11.7% during the 2nd quarter. Cetera Investment Advisers now owns 106,710 shares of the company’s stock worth $537,000 after purchasing an additional 11,158 shares during the period. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Grab Stock Performance

Shares of GRAB stock opened at $3.31 on Monday. The business has a 50 day simple moving average of $3.58 and a 200 day simple moving average of $3.90. The firm has a market capitalization of $13.56 billion, a price-to-earnings 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 company has a debt-to-equity ratio of 0.06, a current ratio of 1.67 and a quick ratio of 1.65.

Grab (NASDAQ:GRAB) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.01) EPS 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 net margin of 10.67% and a return on equity of 5.79%. On average, equities research analysts anticipate that Grab Holdings Limited will post 0.1 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on GRAB. Barclays reduced their price objective on Grab from $7.00 to $5.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. Mizuho dropped their target price on Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. Weiss Ratings upgraded Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. China Renaissance raised shares of Grab from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a report on Wednesday, May 6th. Finally, Morgan Stanley reissued an “overweight” rating and set a $6.25 price target on shares of Grab in a report on Tuesday, June 30th. 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 MarketBeat.com, Grab has an average rating of “Moderate Buy” and a consensus price target of $6.01.

Insider Transactions at Grab

In other Grab news, CEO Anthony Ping Yeow Tan sold 400,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $3.51, for a total value of $1,404,000.00. Following the sale, the chief executive officer directly owned 425,193 shares in the company, valued at approximately $1,492,427.43. The trade was a 48.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 completion of the sale, the insider directly owned 3,781,306 shares of the company’s stock, valued at $13,423,636.30. The trade was a 1.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,666,093 shares of company stock valued at $6,083,321 in the last quarter. Company insiders own 3.60% of the company’s stock.

About Grab

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.