Baillie Gifford & Co. Sells 4,163,606 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Baillie Gifford & Co. trimmed its position in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 8.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,762,172 shares of the company's stock after selling 4,163,606 shares during the period. Baillie Gifford & Co. owned about 1.09% of Grab worth $162,496,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Sequoia Financial Advisors LLC raised its stake in Grab by 8.1% in the second quarter. Sequoia Financial Advisors LLC now owns 40,185 shares of the company's stock worth $143,000 after buying an additional 3,020 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Grab by 53.6% during the third quarter. Blue Trust Inc. now owns 9,767 shares of the company's stock valued at $35,000 after purchasing an additional 3,408 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its stake in Grab by 37.0% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company's stock worth $50,000 after purchasing an additional 3,795 shares during the period. Asset Management One Co. Ltd. raised its holdings in Grab by 0.5% in the third quarter. Asset Management One Co. Ltd. now owns 776,458 shares of the company's stock worth $2,951,000 after purchasing an additional 3,941 shares in the last quarter. Finally, Cigna Investments Inc. New lifted its position in Grab by 12.9% during the second quarter. Cigna Investments Inc. New now owns 40,269 shares of the company's stock valued at $143,000 after buying an additional 4,595 shares during the period. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Grab Stock Performance

Shares of Grab stock traded up $0.51 during trading on Tuesday, hitting $4.89. 107,895,727 shares of the company's stock traded hands, compared to its average volume of 24,082,408. Grab Holdings Limited has a 1 year low of $2.90 and a 1 year high of $4.93. The business has a 50-day simple moving average of $3.78 and a 200-day simple moving average of $3.58. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.00 and a quick ratio of 2.97. The stock has a market capitalization of $19.18 billion, a P/E ratio of -96.00 and a beta of 0.81.

Grab (NASDAQ:GRAB - Get Free Report) last released its quarterly earnings data on Thursday, August 15th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). Grab had a negative net margin of 8.24% and a negative return on equity of 3.35%. 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 company earned ($0.03) earnings per share. The firm's quarterly revenue was up 17.1% on a year-over-year basis. As a group, analysts forecast that Grab Holdings Limited will post -0.04 EPS for the current year.

Wall Street Analysts Forecast Growth

GRAB has been the subject of several research reports. Benchmark reiterated a "buy" rating and issued a $6.00 price target on shares of Grab in a research note on Tuesday. Evercore ISI lifted their target price on shares of Grab from $7.00 to $8.00 and gave the company an "outperform" rating in a report on Tuesday. Jefferies Financial Group cut their price target on Grab from $5.00 to $4.70 and set a "buy" rating on the stock in a research note on Wednesday, July 17th. Daiwa Capital Markets started coverage on Grab in a research note on Wednesday, October 23rd. They set an "outperform" rating and a $4.60 price objective for the company. Finally, JPMorgan Chase & Co. raised their price target on Grab from $5.00 to $5.70 and gave the company an "overweight" rating in a report on Tuesday. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Grab has an average rating of "Buy" and an average target price of $5.28.

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.