Janney Montgomery Scott LLC Reduces Holdings in Grab Holdings Limited $GRAB

Janney Montgomery Scott LLC reduced its position in Grab Holdings Limited (NASDAQ:GRAB) by 52.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 225,739 shares of the company’s stock after selling 248,251 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Grab were worth $826,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. OVERSEA CHINESE BANKING Corp Ltd boosted its position in Grab by 9.8% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 11,821,595 shares of the company’s stock worth $58,928,000 after acquiring an additional 1,050,619 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Grab by 98.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,478,218 shares of the company’s stock valued at $37,316,000 after acquiring an additional 3,711,860 shares during the last quarter. SG Americas Securities LLC raised its holdings in Grab by 49.2% in the 4th quarter. SG Americas Securities LLC now owns 4,640,032 shares of the company’s stock valued at $23,154,000 after acquiring an additional 1,531,017 shares during the last quarter. Tudor Investment Corp ET AL lifted its stake in Grab by 53.0% in the 3rd quarter. Tudor Investment Corp ET AL now owns 2,021,302 shares of the company’s stock worth $12,168,000 after purchasing an additional 700,130 shares in the last quarter. Finally, Jennison Associates LLC purchased a new position in Grab in the 4th quarter worth approximately $18,919,000. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Grab Stock Up 0.3%

Shares of NASDAQ GRAB opened at $3.94 on Tuesday. The company has a 50 day simple moving average of $3.60 and a 200-day simple moving average of $3.99. The company has a market capitalization of $16.14 billion, a P/E ratio of 394.39, a P/E/G ratio of 1.55 and a beta of 0.87. 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 Holdings Limited has a 1 year low of $3.18 and a 1 year high of $6.62.

Grab (NASDAQ:GRAB) last released 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 net margin of 10.67% and a return on equity of 5.79%. The firm had revenue of $955.00 million for the quarter, compared to analysts’ expectations of $921.71 million. On average, equities research analysts predict that Grab Holdings Limited will post 0.1 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on GRAB. 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. Morgan Stanley reiterated an “overweight” rating and set a $6.25 price objective on shares of Grab in a research report on Tuesday, June 30th. China Renaissance raised Grab from a “hold” rating to a “buy” rating and set a $5.00 price objective on the stock in a research note on Wednesday, May 6th. Zacks Research upgraded Grab from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 2nd. Finally, JPMorgan Chase & Co. cut their target price on Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $6.01.

Insider Buying and Selling

In other news, COO Alexander Charles Hungate sold 144,093 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $3.45, for a total transaction of $497,120.85. Following the completion of the transaction, the chief operating officer directly owned 6,254,023 shares in the company, valued at approximately $21,576,379.35. This represents a 2.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 38,000 shares of Grab stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $3.88, for a total transaction of $147,440.00. Following the sale, the insider owned 3,708,611 shares of the company’s stock, valued at approximately $14,389,410.68. This represents a 1.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 1,366,093 shares of company stock valued at $4,912,921. 3.60% of the stock is currently owned by company insiders.

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.