Park Avenue Securities LLC Sells 980,257 Shares of Grab Holdings Limited $GRAB

Park Avenue Securities LLC reduced its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 91.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 89,426 shares of the company’s stock after selling 980,257 shares during the quarter. Park Avenue Securities LLC’s holdings in Grab were worth $446,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. EverSource Wealth Advisors LLC grew its position in Grab by 15.0% in the third quarter. EverSource Wealth Advisors LLC now owns 13,565 shares of the company’s stock valued at $82,000 after purchasing an additional 1,768 shares in the last quarter. Savant Capital LLC grew its holdings in shares of Grab by 19.3% in the 3rd quarter. Savant Capital LLC now owns 12,093 shares of the company’s stock valued at $73,000 after acquiring an additional 1,957 shares in the last quarter. Miracle Mile Advisors LLC increased its position in shares of Grab by 6.4% in the third quarter. Miracle Mile Advisors LLC now owns 33,290 shares of the company’s stock valued at $200,000 after acquiring an additional 2,007 shares during the last quarter. Centurion Wealth Management LLC increased its position in shares of Grab by 4.4% in the third quarter. Centurion Wealth Management LLC now owns 48,764 shares of the company’s stock valued at $294,000 after acquiring an additional 2,049 shares during the last quarter. Finally, Pitcairn Co. raised its holdings in Grab by 11.0% during the second quarter. Pitcairn Co. now owns 20,964 shares of the company’s stock worth $105,000 after acquiring an additional 2,080 shares in the last quarter. Institutional investors own 55.52% of the company’s stock.

Insider Buying and Selling

In related news, CAO John Pierantoni sold 14,819 shares of the company’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $3.61, for a total value of $53,496.59. Following the transaction, the chief accounting officer owned 569,376 shares in the company, valued at approximately $2,055,447.36. This represents a 2.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.60% of the company’s stock.

Grab Trading Down 3.8%

Shares of Grab stock opened at $3.57 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.73. The business has a fifty day simple moving average of $4.13 and a two-hundred day simple moving average of $5.04. Grab Holdings Limited has a 1 year low of $3.36 and a 1 year high of $6.62. The company has a market capitalization of $14.63 billion, a price-to-earnings ratio of 119.04, a P/E/G ratio of 0.80 and a beta of 0.93.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Wednesday, February 11th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.01 by $0.03. The firm had revenue of $906.00 million for the quarter, compared to the consensus estimate of $942.08 million. Grab had a net margin of 7.92% and a return on equity of 4.09%. Research analysts forecast that Grab Holdings Limited will post 0.05 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on GRAB. Benchmark restated a “buy” rating on shares of Grab in a research note on Thursday, February 12th. HSBC upgraded shares of Grab from a “hold” rating to a “buy” rating and set a $6.20 target price on the stock in a report on Friday, January 16th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $5.80 price target on shares of Grab in a research note on Monday, January 26th. Weiss Ratings restated a “hold (c-)” rating on shares of Grab in a research note on Thursday, January 22nd. Finally, Wall Street Zen upgraded shares of Grab from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $6.47.

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.