SG Americas Securities LLC Reduces Holdings in Grab Holdings Limited (NASDAQ:GRAB)

SG Americas Securities LLC trimmed its stake in Grab Holdings Limited (NASDAQ:GRAB) by 21.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,998,162 shares of the company’s stock after selling 798,736 shares during the period. SG Americas Securities LLC owned approximately 0.08% of Grab worth $11,393,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. grew its position in shares of Grab by 1.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 7,648,194 shares of the company’s stock valued at $25,774,000 after buying an additional 126,365 shares during the last quarter. California State Teachers Retirement System increased its position in Grab by 3.8% in the 4th quarter. California State Teachers Retirement System now owns 2,326,539 shares of the company’s stock valued at $7,840,000 after acquiring an additional 85,670 shares during the period. Quadrature Capital Ltd increased its position in Grab by 125.0% in the 1st quarter. Quadrature Capital Ltd now owns 1,062,944 shares of the company’s stock valued at $3,348,000 after acquiring an additional 590,580 shares during the period. Toronto Dominion Bank increased its position in Grab by 43.4% in the 2nd quarter. Toronto Dominion Bank now owns 5,137,591 shares of the company’s stock valued at $18,238,000 after acquiring an additional 1,555,579 shares during the period. Finally, Public Sector Pension Investment Board increased its position in Grab by 17.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 883,205 shares of the company’s stock valued at $3,135,000 after acquiring an additional 133,531 shares during the period. 55.52% of the stock is owned by hedge funds and other institutional investors.

Grab Price Performance

Shares of NASDAQ:GRAB traded down $0.02 during trading on Friday, hitting $3.68. 22,547,933 shares of the stock were exchanged, compared to its average volume of 22,951,559. The company has a fifty day moving average price of $3.40 and a two-hundred day moving average price of $3.45. The company has a market cap of $14.44 billion, a PE ratio of -52.57 and a beta of 0.83. The company has a current ratio of 3.00, a quick ratio of 2.97 and a debt-to-equity ratio of 0.03. Grab Holdings Limited has a 12-month low of $2.90 and a 12-month high of $3.88.

Grab (NASDAQ:GRAB) last announced its quarterly earnings results on Thursday, August 15th. The company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). The business had revenue of $664.00 million for the quarter, compared to analyst estimates of $674.17 million. Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. The company’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.03) EPS. On average, analysts forecast that Grab Holdings Limited will post -0.01 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GRAB. Benchmark restated a “buy” rating and issued a $6.00 price target on shares of Grab in a research report on Wednesday, September 11th. Mizuho began coverage on Grab in a research report on Thursday, June 27th. They issued an “outperform” rating and a $5.00 price target on the stock. Finally, Jefferies Financial Group dropped their price target on Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Grab has a consensus rating of “Buy” and a consensus target price of $4.71.

About Grab

Grab Holdings Limited engages in the provision of superapps in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The company offers its Grab ecosystem, a single platform with superapps for driver- and merchant-partners and consumers, that allows access to mobility, delivery, digital financial services, and enterprise sector offerings.