Prudential PLC Has $54.66 Million Holdings in Grab Holdings Limited $GRAB

Prudential PLC cut its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,954,732 shares of the company’s stock after selling 319,456 shares during the period. Grab comprises approximately 0.4% of Prudential PLC’s investment portfolio, making the stock its 28th biggest holding. Prudential PLC’s holdings in Grab were worth $54,664,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisory Services Network LLC acquired a new stake in shares of Grab in the third quarter valued at approximately $38,000. Signaturefd LLC raised its holdings in shares of Grab by 64.6% in the fourth quarter. Signaturefd LLC now owns 6,479 shares of the company’s stock valued at $32,000 after purchasing an additional 2,543 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of Grab by 162,500.0% in the third quarter. Larson Financial Group LLC now owns 6,504 shares of the company’s stock valued at $39,000 after purchasing an additional 6,500 shares during the last quarter. Allworth Financial LP grew its stake in shares of Grab by 70.9% in the third quarter. Allworth Financial LP now owns 8,085 shares of the company’s stock valued at $49,000 after buying an additional 3,354 shares in the last quarter. Finally, Global Retirement Partners LLC grew its stake in shares of Grab by 66.9% in the fourth quarter. Global Retirement Partners LLC now owns 8,516 shares of the company’s stock valued at $42,000 after buying an additional 3,414 shares in the last quarter. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Grab news, insider Philipp Wolfgang Josef Kandal sold 30,000 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $3.92, for a total transaction of $117,600.00. Following the completion of the transaction, the insider owned 4,145,430 shares of the company’s stock, valued at approximately $16,250,085.60. The trade was a 0.72% 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 the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chin Yin Ong sold 48,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $3.55, for a total value of $170,400.00. Following the transaction, the insider directly owned 3,781,306 shares of the company’s stock, valued at approximately $13,423,636.30. The trade was a 1.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,118,819 shares of company stock worth $4,114,677 in the last ninety days. 3.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on GRAB shares. Weiss Ratings raised shares of Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. decreased their target price on shares of Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a research note on Tuesday, May 5th. Zacks Research raised shares of Grab from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Morgan Stanley set a $5.90 target price on shares of Grab in a research note on Wednesday, May 6th. Finally, Mizuho decreased their target price on shares of Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Grab presently has an average rating of “Moderate Buy” and a consensus price target of $6.19.

Grab Stock Up 1.5%

GRAB opened at $3.46 on Friday. Grab Holdings Limited has a fifty-two week low of $3.38 and a fifty-two week high of $6.62. 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 company has a market capitalization of $14.18 billion, a P/E ratio of 346.35, a P/E/G ratio of 1.55 and a beta of 0.89. The stock has a fifty day moving average of $3.70 and a 200-day moving average of $4.29.

Grab (NASDAQ:GRAB) last posted its earnings results 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). Grab had a return on equity of 5.79% and a net margin of 10.67%.The firm had revenue of $955.00 million for the quarter, compared to analyst estimates of $921.71 million. On average, equities analysts expect that Grab Holdings Limited will post 0.08 EPS for the current 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.