Public Employees Retirement System of Ohio Trims Stock Position in Grab Holdings Limited $GRAB

Public Employees Retirement System of Ohio decreased its position in Grab Holdings Limited (NASDAQ:GRAB) by 44.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 394,793 shares of the company’s stock after selling 315,799 shares during the period. Public Employees Retirement System of Ohio’s holdings in Grab were worth $1,445,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Integrated Wealth Concepts LLC grew its position in Grab by 201.2% in the first quarter. Integrated Wealth Concepts LLC now owns 35,386 shares of the company’s stock worth $160,000 after acquiring an additional 23,639 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Grab by 6.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,231,195 shares of the company’s stock worth $41,817,000 after purchasing an additional 529,433 shares during the period. Empowered Funds LLC increased 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 last quarter. Focus Partners Wealth purchased a new stake in Grab in the 1st quarter valued at about $63,000. Finally, Cetera Investment Advisers lifted its position in Grab by 11.7% in the second quarter. Cetera Investment Advisers now owns 106,710 shares of the company’s stock valued at $537,000 after buying an additional 11,158 shares during the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

Analysts Set New Price Targets

GRAB has been the subject of several research analyst reports. Weiss Ratings raised shares of Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Barclays decreased their price objective on shares of Grab from $7.00 to $5.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. Mizuho lowered their price objective on shares of Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a research report on Tuesday, May 5th. JPMorgan Chase & Co. dropped their target price on shares of Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a report on Tuesday, May 5th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $6.25 target price on shares of Grab in a research 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 issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Grab has an average rating of “Moderate Buy” and an average target price of $6.01.

Insider Transactions at Grab

In other Grab news, insider Philipp Wolfgang Josef Kandal sold 30,000 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $3.53, for a total value of $105,900.00. Following the sale, the insider owned 4,065,430 shares of the company’s stock, valued at $14,350,967.90. This trade represents a 0.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 dated Tuesday, May 26th. The shares were sold at an average price of $3.55, for a total value of $170,400.00. Following the completion of the sale, the insider directly owned 3,781,306 shares in the company, valued at $13,423,636.30. This represents a 1.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,628,093 shares of company stock valued at $5,946,901 in the last 90 days. Insiders own 3.60% of the company’s stock.

Grab Price Performance

Grab stock opened at $3.50 on Monday. 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 Holdings Limited has a 52-week low of $3.18 and a 52-week high of $6.62. The firm has a market cap of $14.34 billion, a PE ratio of 350.35, a price-to-earnings-growth ratio of 1.34 and a beta of 0.89. The company’s 50 day moving average is $3.57 and its two-hundred day moving average is $3.84.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.01) EPS 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 business had revenue of $955.00 million during the quarter, compared to analyst estimates of $921.71 million. On average, research analysts expect that Grab Holdings Limited will post 0.1 EPS for the current fiscal year.

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.