Massachusetts Financial Services Co. MA Has $68.20 Million Position in Grab Holdings Limited $GRAB

Massachusetts Financial Services Co. MA raised its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 16.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 17,687,253 shares of the company’s stock after purchasing an additional 2,486,750 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Grab were worth $68,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Invesco Ltd. boosted its position in shares of Grab by 24.9% during the 3rd quarter. Invesco Ltd. now owns 79,797,848 shares of the company’s stock valued at $480,383,000 after acquiring an additional 15,916,063 shares in the last quarter. Marshall Wace LLP increased its stake in Grab by 49.2% in the fourth quarter. Marshall Wace LLP now owns 72,453,397 shares of the company’s stock valued at $361,542,000 after acquiring an additional 23,891,108 shares during the period. JPMorgan Chase & Co. raised its position in Grab by 1.6% in the fourth quarter. JPMorgan Chase & Co. now owns 56,669,014 shares of the company’s stock worth $282,778,000 after purchasing an additional 878,966 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Grab by 58.0% in the first quarter. Assenagon Asset Management S.A. now owns 54,906,371 shares of the company’s stock worth $200,957,000 after purchasing an additional 20,152,535 shares in the last quarter. Finally, State Street Corp lifted its stake in Grab by 5.7% during the fourth quarter. State Street Corp now owns 45,938,139 shares of the company’s stock worth $229,231,000 after purchasing an additional 2,466,572 shares during the period. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Trading Down 2.2%

Shares of Grab stock opened at $3.62 on Friday. Grab Holdings Limited has a 12-month low of $3.18 and a 12-month high of $6.62. The stock has a market capitalization of $14.83 billion, a P/E ratio of 60.34, a price-to-earnings-growth ratio of 0.97 and a beta of 0.89. The company has a 50-day simple moving average of $3.60 and a 200 day simple moving average of $3.79. The company has a quick ratio of 1.51, a current ratio of 1.52 and a debt-to-equity ratio of 0.06.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The firm had revenue of $997.00 million for the quarter, compared to analyst estimates of $994.97 million. Grab had a net margin of 15.97% and a return on equity of 8.83%. Research analysts expect that Grab Holdings Limited will post 0.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on GRAB. China Renaissance raised 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. Morgan Stanley reissued an “overweight” rating and issued a $6.25 target price on shares of Grab in a report on Tuesday, June 30th. Zacks Research upgraded Grab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. Mizuho decreased their price target on Grab from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Grab in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.01.

Insider Activity at Grab

In other news, COO Alexander Charles Hungate sold 144,093 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $3.45, for a total value of $497,120.85. Following the transaction, the chief operating officer directly owned 6,254,023 shares of the company’s stock, valued at $21,576,379.35. The trade was a 2.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Philipp Wolfgang Josef Kandal sold 30,000 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $3.53, for a total value of $105,900.00. Following the sale, the insider owned 4,065,430 shares in the company, valued at approximately $14,350,967.90. This trade represents a 0.73% decrease in their ownership of the stock. 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 quarter, insiders have sold 1,586,093 shares of company stock valued at $5,780,881. Insiders own 3.60% of the company’s stock.

About Grab

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.