California Public Employees Retirement System Reduces Stake in Grab Holdings Limited $GRAB

California Public Employees Retirement System reduced its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 20.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,841,232 shares of the company’s stock after selling 1,016,282 shares during the period. California Public Employees Retirement System owned about 0.09% of Grab worth $14,059,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in Grab in the fourth quarter valued at approximately $25,000. Parallel Advisors LLC increased its position in Grab by 305.5% in the fourth 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 last quarter. Advisory Services Network LLC bought a new stake in shares of Grab in the third quarter valued at $38,000. Signaturefd LLC raised its stake in shares of Grab by 64.6% in the fourth quarter. Signaturefd LLC now owns 6,479 shares of the company’s stock valued at $32,000 after buying an additional 2,543 shares during the period. Finally, Larson Financial Group LLC raised its position in shares of Grab by 162,500.0% in the third quarter. Larson Financial Group LLC now owns 6,504 shares of the company’s stock valued at $39,000 after purchasing an additional 6,500 shares during the period. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Grab Price Performance

Shares of NASDAQ:GRAB opened at $3.31 on Friday. The business has a fifty day moving average price of $3.58 and a 200-day moving average price of $3.90. 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. The company has a market capitalization of $13.56 billion, a PE ratio of 331.33, a PEG ratio of 1.27 and a beta of 0.87.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on GRAB shares. Mizuho lowered their price objective on Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. Barclays cut their target price on shares of Grab from $7.00 to $5.00 and set an “overweight” rating on the stock in a research note on Thursday, July 9th. JPMorgan Chase & Co. reduced their price target on shares of Grab from $5.90 to $5.80 and set an “overweight” rating on the stock in a research 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 note on Wednesday, May 6th. Finally, Morgan Stanley restated an “overweight” rating and issued a $6.25 price objective on shares of Grab in a report on Tuesday, June 30th. One investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $6.01.

Insider Buying and Selling at Grab

In other news, insider Philipp Wolfgang Josef Kandal sold 30,000 shares of Grab stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $3.53, for a total transaction of $105,900.00. Following the transaction, the insider directly owned 4,065,430 shares of the company’s stock, valued at $14,350,967.90. The trade was a 0.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony Ping Yeow Tan sold 400,000 shares of the stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $3.91, for a total value of $1,564,000.00. Following the sale, the chief executive officer owned 28,498 shares of the company’s stock, valued at $111,427.18. This represents a 93.35% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,666,093 shares of company stock valued at $6,083,321 in the last quarter. Insiders own 3.60% of the company’s stock.

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.