Millennium Management LLC Has $18.65 Million Stake in Grab Holdings Limited (NASDAQ:GRAB)

Millennium Management LLC cut its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 57.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,253,332 shares of the company’s stock after selling 7,156,695 shares during the quarter. Millennium Management LLC owned approximately 0.13% of Grab worth $18,649,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sequoia Financial Advisors LLC increased its holdings in Grab by 8.1% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 40,185 shares of the company’s stock valued at $143,000 after purchasing an additional 3,020 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in shares of Grab by 37.0% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock valued at $50,000 after buying an additional 3,795 shares during the last quarter. Cigna Investments Inc. New lifted its position in Grab by 12.9% during the 2nd quarter. Cigna Investments Inc. New now owns 40,269 shares of the company’s stock worth $143,000 after buying an additional 4,595 shares in the last quarter. Lake Street Advisors Group LLC grew its holdings in Grab by 0.7% during the 2nd quarter. Lake Street Advisors Group LLC now owns 700,455 shares of the company’s stock worth $2,487,000 after acquiring an additional 5,131 shares during the last quarter. Finally, Forsta AP Fonden increased its position in Grab by 1.1% in the 1st quarter. Forsta AP Fonden now owns 552,100 shares of the company’s stock valued at $1,734,000 after acquiring an additional 6,100 shares in the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

Wall Street Analyst Weigh In

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

Grab Trading Down 0.5 %

Shares of NASDAQ GRAB opened at $3.68 on Friday. Grab Holdings Limited has a twelve month low of $2.90 and a twelve month high of $3.88. The stock has a market cap of $14.44 billion, a price-to-earnings ratio of -52.57 and a beta of 0.83. The company has a quick ratio of 2.97, a current ratio of 3.00 and a debt-to-equity ratio of 0.03. The company’s fifty day moving average is $3.40 and its 200-day moving average is $3.45.

Grab (NASDAQ:GRAB) last posted its earnings results on Thursday, August 15th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. The firm had revenue of $664.00 million during the quarter, compared to analysts’ expectations of $674.17 million. During the same period in the previous year, the firm earned ($0.03) earnings per share. The company’s revenue was up 17.1% on a year-over-year basis. Equities research analysts predict that Grab Holdings Limited will post -0.01 EPS for the current year.

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.