Hsbc Holdings PLC Decreases Stake in Grab Holdings Limited $GRAB

Hsbc Holdings PLC cut its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 14.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,455,148 shares of the company’s stock after selling 1,072,141 shares during the quarter. Hsbc Holdings PLC’s holdings in Grab were worth $32,218,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in GRAB. Integrated Wealth Concepts LLC boosted its holdings in Grab by 201.2% during the first quarter. Integrated Wealth Concepts LLC now owns 35,386 shares of the company’s stock worth $160,000 after buying an additional 23,639 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Grab by 6.1% in the first quarter. Goldman Sachs Group Inc. now owns 9,231,195 shares of the company’s stock valued at $41,817,000 after buying an additional 529,433 shares in the last quarter. Empowered Funds LLC lifted 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 valued at $239,000 after acquiring an additional 3,090 shares during the period. Focus Partners Wealth acquired a new stake in shares of Grab during the 1st quarter valued at approximately $63,000. Finally, Cetera Investment Advisers boosted its stake 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 acquiring an additional 11,158 shares in the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Insider Activity

In other news, insider Chin Yin Ong sold 48,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider 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. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Peter Henry Oey sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $3.92, for a total transaction of $196,000.00. Following the transaction, the chief financial officer directly owned 7,050,165 shares in the company, valued at $27,636,646.80. The trade was a 0.70% 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. Insiders sold a total of 1,622,000 shares of company stock valued at $5,877,920 over the last 90 days. Insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Weiss Ratings upgraded Grab from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. reduced their price objective on Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a report on Tuesday, May 5th. Zacks Research upgraded Grab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. China Renaissance raised Grab from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a report on Wednesday, May 6th. Finally, Mizuho dropped their price target on Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a research report 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 assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $6.19.

Grab Trading Down 0.9%

Grab stock opened at $3.46 on Wednesday. The stock has a 50-day moving average price of $3.64 and a 200 day moving average price of $4.12. Grab Holdings Limited has a 52 week low of $3.18 and a 52 week high of $6.62. The stock has a market cap of $14.18 billion, a PE ratio of 346.35, a P/E/G ratio of 1.58 and a beta of 0.89. The company has a current ratio of 1.67, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06.

Grab (NASDAQ:GRAB) last released its earnings results on Tuesday, May 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). Grab had a net margin of 10.67% and a return on equity of 5.79%. The firm had revenue of $955.00 million during the quarter, compared to analysts’ expectations of $921.71 million. Equities research analysts predict that Grab Holdings Limited will post 0.08 earnings per share for the current fiscal year.

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.