Rakuten Investment Management Inc. Buys 157,000 Shares of Grab Holdings Limited $GRAB

Rakuten Investment Management Inc. bought a new position in shares of Grab Holdings Limited (NASDAQ:GRAB) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 157,000 shares of the company’s stock, valued at approximately $490,000.

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in Grab by 13.4% in the 2nd quarter. Principal Financial Group Inc. now owns 24,289,581 shares of the company’s stock worth $91,572,000 after purchasing an additional 2,867,458 shares in the last quarter. ANTIPODES PARTNERS Ltd bought a new position in shares of Grab during the 2nd quarter valued at about $10,119,000. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Grab by 17.0% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,041,490 shares of the company’s stock valued at $7,696,000 after purchasing an additional 296,256 shares during the last quarter. Hsbc Holdings PLC grew its position in shares of Grab by 20.9% during the second quarter. Hsbc Holdings PLC now owns 17,877,290 shares of the company’s stock valued at $67,475,000 after purchasing an additional 3,090,656 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Grab by 16.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 17,687,253 shares of the company’s stock valued at $68,200,000 after purchasing an additional 2,486,750 shares in the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

Grab Price Performance

Grab stock opened at $3.41 on Monday. Grab Holdings Limited has a 52-week low of $2.67 and a 52-week high of $6.24. The company has a quick ratio of 1.37, a current ratio of 1.38 and a debt-to-equity ratio of 0.06. The firm’s fifty day moving average is $3.07 and its 200 day moving average is $3.61. The company has a market cap of $13.97 billion, a price-to-earnings ratio of 68.21, a PEG ratio of 0.72 and a beta of 0.83.

Insider Transactions at Grab

In other Grab news, CEO Ping Tan bought 10,350,000 shares of the firm’s stock in a transaction dated Monday, September 21st. The shares were purchased at an average cost of $2.89 per share, for a total transaction of $29,911,500.00. Following the transaction, the chief executive officer owned 10,778,498 shares of the company’s stock, valued at $31,149,859.22. This represents a 2,415.41% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Peter Oey sold 50,000 shares of the stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $2.98, for a total transaction of $149,000.00. Following the completion of the transaction, the chief financial officer directly owned 6,753,470 shares of the company’s stock, valued at approximately $20,125,340.60. The trade was a 0.73% decrease in their position. 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 sold 499,349 shares of company stock worth $1,641,155. 3.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Barclays reduced their target price on Grab from $5.00 to $4.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Benchmark reissued a “buy” rating on shares of Grab in a research note on Tuesday, August 4th. Zacks Research cut Grab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 4th. KeyCorp set a $7.00 price target on Grab in a report on Wednesday, September 16th. Finally, Weiss Ratings raised Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, November 3rd. One equities research 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.67.

About Grab

Grab Holdings Limited operates a digital platform that connects consumers, driver- and merchant-partners across Southeast Asia. Its services include ride-hailing and other mobility options, food and grocery delivery, and parcel delivery, offered through the Grab app.

The company also provides digital financial services, including payments and lending, and works with partners on products such as insurance and digital banking. Its offerings and availability vary by market.

Grab began in Malaysia in 2012 as MyTeksi, a taxi-booking service founded by Anthony Tan and Tan Hooi Ling, and later expanded across the region.