Bank of America Corp DE Grows Position in Grab Holdings Limited $GRAB

Bank of America Corp DE grew its position in Grab Holdings Limited (NASDAQ:GRAB) by 80.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,993,894 shares of the company’s stock after acquiring an additional 10,681,810 shares during the period. Bank of America Corp DE’s holdings in Grab were worth $87,818,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Janus Henderson Group PLC increased its stake in shares of Grab by 50.0% in the 1st quarter. Janus Henderson Group PLC now owns 922,797 shares of the company’s stock valued at $3,373,000 after purchasing an additional 307,399 shares in the last quarter. MSA Advisors LLC acquired a new stake in shares of Grab in the first quarter worth approximately $62,000. Amundi grew its holdings in shares of Grab by 13.2% during the first quarter. Amundi now owns 11,712,223 shares of the company’s stock worth $42,867,000 after buying an additional 1,368,365 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Grab by 35.4% in the first quarter. EverSource Wealth Advisors LLC now owns 20,715 shares of the company’s stock valued at $76,000 after buying an additional 5,415 shares during the last quarter. Finally, Regal Partners Ltd lifted its stake in shares of Grab by 240.2% in the first quarter. Regal Partners Ltd now owns 729,615 shares of the company’s stock worth $2,670,000 after buying an additional 515,153 shares in the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

Grab Trading Down 0.3%

Shares of GRAB opened at $3.66 on Friday. The company has a current ratio of 1.52, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. Grab Holdings Limited has a 12-month low of $3.18 and a 12-month high of $6.62. The firm has a 50-day moving average price of $3.58 and a 200 day moving average price of $3.82. The firm has a market capitalization of $15.00 billion, a P/E ratio of 61.01, a P/E/G ratio of 0.91 and a beta of 0.89.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. Grab had a net margin of 15.97% and a return on equity of 8.83%. The firm had revenue of $997.00 million during the quarter, compared to analysts’ expectations of $994.97 million. Sell-side analysts forecast that Grab Holdings Limited will post 0.13 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GRAB. Zacks Research raised shares of Grab from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. lowered their target price on Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a report on Tuesday, May 5th. 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. Barclays cut their price target on Grab from $7.00 to $5.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. Finally, China Renaissance upgraded Grab from a “hold” rating to a “buy” rating and set a $5.00 price objective on the stock in a research report on Wednesday, May 6th. 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. According to MarketBeat.com, Grab currently has an average rating of “Moderate Buy” and a consensus target price of $6.01.

Insiders Place Their Bets

In other news, COO Alexander Charles Hungate sold 144,093 shares of Grab stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $3.45, for a total transaction of $497,120.85. Following the sale, the chief operating officer owned 6,254,023 shares of the company’s stock, valued at approximately $21,576,379.35. The trade was a 2.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Philipp Wolfgang Josef Kandal sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $3.53, for a total value of $105,900.00. Following the completion of the transaction, the insider owned 4,065,430 shares in the company, valued at $14,350,967.90. This represents a 0.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 1,666,093 shares of company stock worth $6,084,081. 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.