Matthews International Capital Management LLC Sells 1,094,411 Shares of Grab Holdings Limited $GRAB

Matthews International Capital Management LLC lessened its position in Grab Holdings Limited (NASDAQ:GRAB) by 46.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,273,059 shares of the company’s stock after selling 1,094,411 shares during the period. Grab makes up about 1.9% of Matthews International Capital Management LLC’s investment portfolio, making the stock its 20th biggest holding. Matthews International Capital Management LLC’s holdings in Grab were worth $4,659,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in Grab during the 4th quarter worth $25,000. Montag A & Associates Inc. bought a new stake in shares of Grab in the first quarter worth about $27,000. Parallel Advisors LLC raised its position in shares of Grab by 305.5% during the fourth quarter. Parallel Advisors LLC now owns 6,107 shares of the company’s stock worth $30,000 after purchasing an additional 4,601 shares during the period. Signaturefd LLC lifted its holdings in shares of Grab by 64.6% during the 4th quarter. Signaturefd LLC now owns 6,479 shares of the company’s stock valued at $32,000 after purchasing an additional 2,543 shares in the last quarter. Finally, Advocate Investing Services LLC acquired a new position in shares of Grab in the 4th quarter valued at approximately $35,000. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Anthony Ping Yeow Tan sold 400,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $3.67, for a total value of $1,468,000.00. Following the completion of the sale, the chief executive officer owned 25,193 shares of the company’s stock, valued at approximately $92,458.31. This represents a 94.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Peter Henry Oey sold 50,000 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $3.54, for a total transaction of $177,000.00. Following the completion of the transaction, the chief financial officer directly owned 7,000,165 shares of the company’s stock, valued at $24,780,584.10. This represents a 0.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,366,093 shares of company stock valued at $4,912,921. 3.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. China Renaissance raised shares of Grab from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a research note on Wednesday, May 6th. Weiss Ratings raised shares of Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Zacks Research upgraded Grab from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Mizuho cut their price target on Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a report on Tuesday, May 5th. Finally, 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 research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Grab currently has an average rating of “Moderate Buy” and a consensus price target of $6.01.

Grab Price Performance

Shares of GRAB stock opened at $3.93 on Monday. The firm’s fifty day moving average price is $3.60 and its two-hundred day moving average price is $4.00. 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 Holdings Limited has a 1 year low of $3.18 and a 1 year high of $6.62. The firm has a market capitalization of $16.10 billion, a P/E ratio of 393.39, a PEG ratio of 1.55 and a beta of 0.87.

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 business had revenue of $955.00 million for the quarter, compared to analyst estimates of $921.71 million. Grab had a return on equity of 5.79% and a net margin of 10.67%. On average, equities analysts predict that Grab Holdings Limited will post 0.1 EPS 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.