Fmr LLC Decreases Stake in Grab Holdings Limited (NASDAQ:GRAB)

Fmr LLC lowered its position in shares of Grab Holdings Limited (NASDAQ:GRAB) by 31.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 348,177 shares of the company’s stock after selling 158,061 shares during the quarter. Fmr LLC’s holdings in Grab were worth $1,323,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Baillie Gifford & Co. purchased a new position in Grab in the second quarter worth $166,587,000. Point72 Asset Management L.P. bought a new stake in shares of Grab during the 2nd quarter worth $57,696,000. Marshall Wace LLP raised its stake in shares of Grab by 39.7% during the 2nd quarter. Marshall Wace LLP now owns 30,405,993 shares of the company’s stock worth $107,941,000 after purchasing an additional 8,635,310 shares during the period. Citigroup Inc. boosted its holdings in shares of Grab by 83.6% in the 3rd quarter. Citigroup Inc. now owns 14,277,673 shares of the company’s stock worth $54,255,000 after buying an additional 6,503,051 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Grab by 129.4% during the third quarter. Assenagon Asset Management S.A. now owns 8,078,843 shares of the company’s stock valued at $30,700,000 after buying an additional 4,557,800 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 $5.13 on Tuesday. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. The company has a market cap of $20.66 billion, a P/E ratio of -256.50 and a beta of 0.90. Grab Holdings Limited has a 52 week low of $2.90 and a 52 week high of $5.72. The business has a 50-day simple moving average of $4.58 and a two-hundred day simple moving average of $3.86.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Monday, November 11th. The company reported $0.01 EPS for the quarter. The company had revenue of $716.00 million during the quarter, compared to analyst estimates of $705.40 million. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. During the same period last year, the business earned ($0.02) earnings per share. Research analysts anticipate that Grab Holdings Limited will post -0.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. HSBC lowered shares of Grab from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $4.25 to $5.50 in a research report on Thursday, December 5th. JPMorgan Chase & Co. lifted their price target on shares of Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Benchmark reissued a “buy” rating and set a $6.00 price objective on shares of Grab in a report on Tuesday, November 12th. China Renaissance lowered Grab from a “buy” rating to a “hold” rating and set a $5.40 target price on the stock. in a research note on Thursday, November 21st. Finally, Evercore ISI upped their price target on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $5.53.

Grab Profile

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.