The Manufacturers Life Insurance Company Sells 549,240 Shares of Grab Holdings Limited $GRAB

The Manufacturers Life Insurance Company decreased its position in shares of Grab Holdings Limited (NASDAQ:GRAB) by 4.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,848,655 shares of the company’s stock after selling 549,240 shares during the period. The Manufacturers Life Insurance Company’s holdings in Grab were worth $43,366,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of Grab during the fourth quarter worth $25,000. Parallel Advisors LLC boosted its position in shares of Grab by 305.5% in the 4th quarter. Parallel Advisors LLC now owns 6,107 shares of the company’s stock worth $30,000 after purchasing an additional 4,601 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Grab in the 3rd quarter worth $38,000. Signaturefd LLC grew its stake in Grab by 64.6% during the 4th quarter. Signaturefd LLC now owns 6,479 shares of the company’s stock worth $32,000 after buying an additional 2,543 shares during the last quarter. Finally, Larson Financial Group LLC grew its stake in Grab by 162,500.0% during the 3rd quarter. Larson Financial Group LLC now owns 6,504 shares of the company’s stock worth $39,000 after buying an additional 6,500 shares during the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Zacks Research upgraded Grab from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Morgan Stanley restated an “overweight” rating and set a $6.25 price target on shares of Grab in a research note on Tuesday, June 30th. China Renaissance upgraded shares of Grab from a “hold” rating to a “buy” rating and set a $5.00 price objective on the stock in a report on Wednesday, May 6th. JPMorgan Chase & Co. decreased their price objective on shares of Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a research report on Tuesday, May 5th. Finally, Barclays lowered their target price on shares of Grab from $7.00 to $5.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $6.01.

Grab Price Performance

NASDAQ GRAB opened at $3.40 on Friday. The company has a market cap of $13.93 billion, a price-to-earnings ratio of 340.34, a PEG ratio of 1.29 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. The stock’s fifty day moving average price is $3.57 and its 200 day moving average price is $3.85. Grab Holdings Limited has a 1 year low of $3.18 and a 1 year high of $6.62.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The firm 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%. As a group, equities research analysts forecast that Grab Holdings Limited will post 0.1 earnings per share for the current year.

Insider Transactions at Grab

In related news, CEO Anthony Ping Yeow Tan sold 400,000 shares of Grab stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $3.51, for a total transaction of $1,404,000.00. Following the completion of the sale, the chief executive officer owned 425,193 shares of the company’s stock, valued at $1,492,427.43. The trade was a 48.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Alexander Charles Hungate sold 144,093 shares of Grab stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $3.45, for a total value of $497,120.85. Following the sale, the chief operating officer directly owned 6,254,023 shares of the company’s stock, valued at $21,576,379.35. This trade represents a 2.25% 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. In the last ninety days, insiders have sold 1,666,093 shares of company stock valued at $6,083,321. 3.60% of the stock is owned by company insiders.

Grab Company 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.