Coronation Fund Managers Ltd. Has $119.32 Million Stock Holdings in Grab Holdings Limited $GRAB

Coronation Fund Managers Ltd. lifted its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 74.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 32,601,355 shares of the company’s stock after acquiring an additional 13,919,053 shares during the period. Grab accounts for about 5.4% of Coronation Fund Managers Ltd.’s portfolio, making the stock its 5th largest position. Coronation Fund Managers Ltd.’s holdings in Grab were worth $119,321,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of Grab during the fourth quarter valued at about $25,000. Montag A & Associates Inc. bought a new stake in Grab in the 1st quarter valued at about $27,000. Parallel Advisors LLC raised its stake in Grab by 305.5% during the 4th quarter. Parallel Advisors LLC now owns 6,107 shares of the company’s stock worth $30,000 after buying an additional 4,601 shares during the period. Signaturefd LLC boosted its holdings in Grab by 64.6% in the fourth quarter. Signaturefd LLC now owns 6,479 shares of the company’s stock worth $32,000 after acquiring an additional 2,543 shares in the last quarter. Finally, Advocate Investing Services LLC bought a new position in Grab in the fourth quarter worth approximately $35,000. 55.52% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Grab news, CFO Peter Henry Oey sold 50,000 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $3.53, for a total transaction of $176,500.00. Following the transaction, the chief financial officer directly owned 6,950,165 shares in the company, valued at approximately $24,534,082.45. This trade represents a 0.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 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 transaction, the chief operating officer directly owned 6,254,023 shares in the company, valued at $21,576,379.35. This represents a 2.25% 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. Insiders sold a total of 1,666,093 shares of company stock worth $6,083,321 in the last three months. 3.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GRAB. Mizuho decreased their price objective on Grab from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. China Renaissance raised shares of Grab from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a research report on Wednesday, May 6th. Zacks Research upgraded shares of Grab from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Barclays lowered their price objective on shares of Grab from $7.00 to $5.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $6.25 price objective on shares of Grab in a research note on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.01.

Grab Stock Performance

Shares of GRAB opened at $3.35 on Thursday. The firm has a market capitalization of $13.73 billion, a P/E ratio of 335.34, a P/E/G ratio of 1.34 and a beta of 0.87. Grab Holdings Limited has a 52 week low of $3.18 and a 52 week high of $6.62. The stock has a 50 day moving average price of $3.59 and a two-hundred day moving average price of $3.92. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 1.67.

Grab (NASDAQ:GRAB) last posted its earnings results on Tuesday, May 5th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The company had revenue of $955.00 million during the quarter, compared to the consensus estimate of $921.71 million. Grab had a net margin of 10.67% and a return on equity of 5.79%. Equities analysts forecast that Grab Holdings Limited will post 0.1 earnings per share for the current fiscal year.

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.