Coronation Fund Managers Ltd. lessened its stake in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 15.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,591,408 shares of the company's stock after selling 5,144,317 shares during the period. Grab accounts for approximately 7.9% of Coronation Fund Managers Ltd.'s portfolio, making the stock its 2nd biggest position. Coronation Fund Managers Ltd. owned about 0.71% of Grab worth $134,951,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Perpetual Ltd purchased a new stake in Grab in the fourth quarter valued at $213,177,000. Wellington Management Group LLP increased its position in shares of Grab by 13.4% during the 3rd quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company's stock worth $472,394,000 after purchasing an additional 14,671,388 shares during the last quarter. Tree Line Advisors Hong Kong Ltd. purchased a new stake in Grab in the 3rd quarter valued at about $38,000,000. Assenagon Asset Management S.A. lifted its position in Grab by 109.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 16,946,914 shares of the company's stock valued at $79,989,000 after buying an additional 8,868,071 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Grab by 179.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,462,483 shares of the company's stock worth $47,357,000 after buying an additional 8,004,912 shares during the period. Institutional investors and hedge funds own 55.52% of the company's stock.
Analyst Ratings Changes
GRAB has been the topic of a number of research analyst reports. Hsbc Global Res raised shares of Grab from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 4th. Barclays boosted their target price on Grab from $4.70 to $5.50 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. HSBC upgraded Grab from a "hold" rating to a "buy" rating and lowered their price target for the stock from $5.50 to $5.45 in a research report on Tuesday, February 4th. Evercore ISI boosted their price objective on Grab from $7.00 to $8.00 and gave the company an "outperform" rating in a report on Tuesday, November 12th. Finally, China Renaissance cut Grab from a "buy" rating to a "hold" rating and set a $5.40 target price for the company. in a report on Thursday, November 21st. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Grab currently has a consensus rating of "Moderate Buy" and an average price target of $5.54.
Get Our Latest Stock Report on Grab
Grab Stock Down 0.8 %
Grab stock traded down $0.04 during trading on Thursday, reaching $4.96. The stock had a trading volume of 48,233,876 shares, compared to its average volume of 29,864,572. Grab Holdings Limited has a 52-week low of $2.98 and a 52-week high of $5.72. The business has a 50 day moving average price of $4.79 and a 200 day moving average price of $4.21. 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 stock has a market cap of $19.97 billion, a PE ratio of -248.00, a P/E/G ratio of 1.95 and a beta of 0.90.
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. The company had revenue of $716.00 million for the quarter, compared to analysts' expectations of $705.40 million. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. During the same period last year, the firm earned ($0.02) earnings per share. On average, analysts predict that Grab Holdings Limited will post -0.02 EPS for the current year.
About Grab
(
Free Report)
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.
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