Grab Holdings Limited (NASDAQ:GRAB) Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 12.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 727,938 shares of the company's stock after selling 100,508 shares during the period. Bank of Montreal Can's holdings in Grab were worth $2,803,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Baillie Gifford & Co. purchased a new stake in Grab in the second quarter valued at $166,587,000. Point72 Asset Management L.P. purchased a new stake in shares of Grab in the second quarter worth about $57,696,000. Coronation Fund Managers Ltd. grew its holdings in Grab by 29.7% during the second quarter. Coronation Fund Managers Ltd. now owns 45,452,613 shares of the company's stock worth $161,357,000 after acquiring an additional 10,410,574 shares during the period. Marshall Wace LLP raised its position in Grab by 39.7% during the second quarter. Marshall Wace LLP now owns 30,405,993 shares of the company's stock valued at $107,941,000 after acquiring an additional 8,635,310 shares in the last quarter. Finally, Citigroup Inc. lifted its holdings in Grab by 83.6% in the third quarter. Citigroup Inc. now owns 14,277,673 shares of the company's stock valued at $54,255,000 after acquiring an additional 6,503,051 shares during the period. 55.52% of the stock is owned by hedge funds and other institutional investors.

Grab Price Performance

Shares of GRAB traded down $0.07 during trading hours on Thursday, hitting $5.24. 26,145,869 shares of the stock were exchanged, compared to its average volume of 26,013,232. The stock's 50-day moving average price is $4.34 and its two-hundred day moving average price is $3.77. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. The company has a market cap of $21.10 billion, a price-to-earnings ratio of -260.00 and a beta of 0.90. Grab Holdings Limited has a 12-month low of $2.90 and a 12-month high of $5.72.

Grab (NASDAQ:GRAB - Get Free Report) last posted its quarterly earnings results on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The firm had revenue of $716.00 million for the quarter, compared to analyst estimates of $705.40 million. During the same period in the previous year, the business posted ($0.02) earnings per share. Research analysts expect that Grab Holdings Limited will post -0.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GRAB. Benchmark reaffirmed a "buy" rating and set a $6.00 target price on shares of Grab in a report on Tuesday, November 12th. China Renaissance cut shares of Grab from a "buy" rating to a "hold" rating and set a $5.40 price objective for the company. in a report on Thursday, November 21st. Evercore ISI increased their target price on shares of Grab from $7.00 to $8.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 12th. Daiwa Capital Markets started coverage on Grab in a research note on Wednesday, October 23rd. They issued an "outperform" rating and a $4.60 price target for the company. Finally, HSBC downgraded Grab from a "buy" rating to a "hold" rating and increased their price target for the stock from $4.25 to $5.50 in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, Grab currently has an average rating of "Moderate Buy" and a consensus price target of $5.53.

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.