Prudential PLC lessened its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 16.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,431,610 shares of the company's stock after selling 3,156,443 shares during the period. Grab comprises approximately 0.4% of Prudential PLC's holdings, making the stock its 23rd largest holding. Prudential PLC owned about 0.41% of Grab worth $77,557,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Baillie Gifford & Co. increased its stake in shares of Grab by 10.0% during the fourth quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company's stock valued at $221,942,000 after purchasing an additional 4,259,537 shares in the last quarter. Tidal Investments LLC grew its stake in shares of Grab by 4,311.8% in the third quarter. Tidal Investments LLC now owns 445,103 shares of the company's stock worth $1,691,000 after acquiring an additional 435,014 shares during the period. Leibman Financial Services Inc. bought a new position in Grab during the fourth quarter valued at approximately $937,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Grab by 2.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,707,627 shares of the company's stock worth $22,220,000 after purchasing an additional 134,243 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Grab by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 20,666,618 shares of the company's stock worth $77,414,000 after purchasing an additional 591,898 shares during the period. Institutional investors own 55.52% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the company. Hsbc Global Res raised Grab from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. HSBC raised shares of Grab from a "hold" rating to a "buy" rating and reduced their price target for the company from $5.50 to $5.45 in a research report on Tuesday, February 4th. Bank of America upgraded shares of Grab from an "underperform" rating to a "neutral" rating and boosted their target price for the company from $4.90 to $5.10 in a research report on Tuesday, January 7th. JPMorgan Chase & Co. raised shares of Grab from a "neutral" rating to an "overweight" rating and set a $5.60 target price for the company in a report on Friday, February 21st. Finally, Citigroup restated a "buy" rating on shares of Grab in a research note on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $5.62.
Get Our Latest Research Report on Grab
Grab Price Performance
GRAB stock traded up $0.01 during midday trading on Wednesday, hitting $3.74. The company's stock had a trading volume of 17,662,085 shares, compared to its average volume of 29,684,273. The firm has a market capitalization of $15.04 billion, a price-to-earnings ratio of -186.75, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. Grab Holdings Limited has a 12 month low of $2.98 and a 12 month high of $5.72. The company has a 50 day moving average of $4.60 and a two-hundred day moving average of $4.55.
Grab (NASDAQ:GRAB - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The company had revenue of $764.00 million during the quarter, compared to analysts' expectations of $762.57 million. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. On average, analysts expect that Grab Holdings Limited will post 0.05 EPS for the current year.
Grab Profile
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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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