SG Americas Securities LLC Sells 2,883,585 Shares of Grab Holdings Limited (NASDAQ:GRAB)

SG Americas Securities LLC lessened its stake in Grab Holdings Limited (NASDAQ:GRAB) by 96.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 114,577 shares of the company’s stock after selling 2,883,585 shares during the period. SG Americas Securities LLC’s holdings in Grab were worth $541,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Perpetual Ltd acquired a new position in shares of Grab in the fourth quarter worth approximately $213,177,000. Assenagon Asset Management S.A. lifted its position in shares of Grab by 109.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 16,946,914 shares of the company’s stock worth $79,989,000 after purchasing an additional 8,868,071 shares during the period. Leibman Financial Services Inc. bought a new stake in shares of Grab in the 4th quarter valued at $937,000. FNY Investment Advisers LLC boosted its stake in shares of Grab by 13.9% in the 4th quarter. FNY Investment Advisers LLC now owns 28,700 shares of the company’s stock valued at $135,000 after purchasing an additional 3,500 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Grab by 15.4% during the fourth quarter. Nordea Investment Management AB now owns 17,181,844 shares of the company’s stock worth $81,356,000 after buying an additional 2,297,932 shares during the period. Institutional investors own 55.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GRAB. HSBC cut shares of Grab from a “buy” rating to a “hold” rating and upped their price target for the company from $4.25 to $5.50 in a research report on Thursday, December 5th. Evercore ISI upped their target price on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Hsbc Global Res cut Grab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. China Renaissance lowered Grab from a “buy” rating to a “hold” rating and set a $5.40 price target on the stock. in a research note on Thursday, November 21st. Finally, Barclays raised their price objective on shares of Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $5.55.

Grab Price Performance

Shares of NASDAQ:GRAB opened at $4.58 on Friday. The stock’s 50 day moving average is $4.86 and its 200-day moving average is $4.12. Grab Holdings Limited has a twelve month low of $2.98 and a twelve month high of $5.72. 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 firm has a market capitalization of $18.44 billion, a price-to-earnings ratio of -229.00, a PEG ratio of 1.99 and a beta of 0.90.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. The firm had revenue of $716.00 million for the quarter, compared to the consensus estimate 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 in the prior year, the company posted ($0.02) earnings per share. Sell-side analysts forecast that Grab Holdings Limited will post -0.02 EPS for the current fiscal year.

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.