JPMorgan Chase & Co. Sells 17,600,261 Shares of Grab Holdings Limited (NASDAQ:GRAB)

JPMorgan Chase & Co. trimmed its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 58.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,714,791 shares of the company’s stock after selling 17,600,261 shares during the quarter. JPMorgan Chase & Co. owned about 0.32% of Grab worth $48,316,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GRAB. Tidal Investments LLC lifted its position in shares of Grab by 4,311.8% during the third quarter. Tidal Investments LLC now owns 445,103 shares of the company’s stock worth $1,691,000 after purchasing an additional 435,014 shares in the last quarter. Toronto Dominion Bank raised its position in Grab by 20.2% in the 3rd quarter. Toronto Dominion Bank now owns 6,172,860 shares of the company’s stock worth $23,457,000 after purchasing an additional 1,035,269 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Grab by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 20,666,618 shares of the company’s stock worth $77,414,000 after buying an additional 591,898 shares in the last quarter. M&T Bank Corp boosted its position in Grab by 1.7% in the 3rd quarter. M&T Bank Corp now owns 335,179 shares of the company’s stock valued at $1,274,000 after buying an additional 5,545 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Grab in the 3rd quarter valued at $696,000. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Stock Up 1.5 %

NASDAQ:GRAB opened at $4.81 on Friday. The firm has a market capitalization of $19.37 billion, a price-to-earnings ratio of -240.50 and a beta of 0.90. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. Grab Holdings Limited has a twelve month low of $2.90 and a twelve month high of $5.72. The stock’s 50 day moving average price is $4.87 and its two-hundred day moving average price is $3.98.

Grab (NASDAQ:GRAB) last announced its quarterly earnings results on Monday, November 11th. The company reported $0.01 EPS for the quarter. The firm had revenue of $716.00 million during the quarter, compared to analysts’ expectations 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 quarter last year, the company posted ($0.02) earnings per share. Equities research analysts expect that Grab Holdings Limited will post -0.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GRAB shares. Bank of America lowered Grab from a “buy” rating to an “underperform” rating and set a $4.90 price target on the stock. in a research note on Friday, November 22nd. Daiwa Capital Markets began coverage on shares of Grab in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 target price on the stock. Hsbc Global Res downgraded shares of Grab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Evercore ISI raised their price objective on shares of Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, Benchmark reaffirmed a “buy” rating and set a $6.00 target price on shares of Grab in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Grab has an average rating of “Moderate Buy” and a consensus target price of $5.53.

Grab Company 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.