Barclays PLC Sells 17,521,112 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Barclays PLC trimmed its holdings in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 46.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,445,427 shares of the company's stock after selling 17,521,112 shares during the quarter. Barclays PLC owned about 0.52% of Grab worth $77,692,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in shares of Grab by 53.6% in the third quarter. Blue Trust Inc. now owns 9,767 shares of the company's stock worth $35,000 after purchasing an additional 3,408 shares in the last quarter. Sage Rhino Capital LLC bought a new position in Grab in the 2nd quarter valued at about $38,000. Traynor Capital Management Inc. acquired a new position in Grab during the 3rd quarter valued at about $41,000. Dorsey & Whitney Trust CO LLC increased its stake in Grab by 37.0% during the 2nd 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 period. Finally, Glenmede Trust Co. NA bought a new stake in shares of Grab during the 3rd quarter worth about $53,000. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on GRAB. Benchmark reiterated a "buy" rating and issued a $6.00 price objective on shares of Grab in a report on Tuesday, November 12th. Mizuho lifted their price target on Grab from $5.00 to $6.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. China Renaissance cut Grab from a "buy" rating to a "hold" rating and set a $5.40 target price for the company. in a research note on Thursday, November 21st. Daiwa Capital Markets assumed coverage on Grab in a report on Wednesday, October 23rd. They set an "outperform" rating and a $4.60 target price on the stock. Finally, HSBC downgraded 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 report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $5.53.

Grab Trading Down 4.1 %

Shares of GRAB traded down $0.22 during midday trading on Thursday, hitting $5.18. The stock had a trading volume of 34,737,847 shares, compared to its average volume of 26,277,107. Grab Holdings Limited has a fifty-two week low of $2.90 and a fifty-two week high of $5.72. The business has a 50-day simple moving average of $4.49 and a two-hundred day simple moving average of $3.83. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. The firm has a market cap of $20.86 billion, a P/E ratio of -270.00 and a beta of 0.90.

Grab (NASDAQ:GRAB - Get Free Report) last posted 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 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 period in the previous year, the company posted ($0.02) EPS. As a group, equities analysts forecast that Grab Holdings Limited will post -0.03 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.