JPMorgan Chase & Co. Sells 17,600,261 Shares of Grab Holdings Limited (NASDAQ:GRAB)

JPMorgan Chase & Co. lowered its holdings in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 58.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,714,791 shares of the company's stock after selling 17,600,261 shares during the period. JPMorgan Chase & Co. owned about 0.32% of Grab worth $48,316,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in GRAB. Empowered Funds LLC grew its position in Grab by 7.7% in the third quarter. Empowered Funds LLC now owns 43,788 shares of the company's stock worth $166,000 after buying an additional 3,147 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Grab by 53.6% during the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company's stock worth $35,000 after acquiring an additional 3,408 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in shares of Grab by 37.0% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company's stock worth $50,000 after acquiring an additional 3,795 shares during the last quarter. Asset Management One Co. Ltd. raised its position in shares of Grab by 0.5% during 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 during the period. Finally, First Trust Direct Indexing L.P. lifted its holdings in shares of Grab by 34.5% during the third quarter. First Trust Direct Indexing L.P. now owns 18,435 shares of the company's stock valued at $70,000 after purchasing an additional 4,725 shares during the last quarter. 55.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on GRAB shares. Mizuho lifted their price target on Grab from $5.00 to $6.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. lifted their target price on shares of Grab from $5.00 to $5.70 and gave the stock an "overweight" rating in a research report on Tuesday, November 12th. Barclays upped their price target on shares of Grab from $4.70 to $5.50 and gave the company an "overweight" rating in a research report on Wednesday, November 13th. Benchmark reiterated a "buy" rating and set a $6.00 price objective on shares of Grab in a research report on Tuesday, November 12th. Finally, HSBC lowered Grab from a "buy" rating to a "hold" rating and increased their target price for the company from $4.25 to $5.50 in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $5.53.

Grab Stock Up 1.5 %

Shares of NASDAQ:GRAB traded up $0.07 during midday trading on Friday, hitting $4.81. 16,941,477 shares of the stock were exchanged, compared to its average volume of 16,223,288. The business's fifty day simple moving average is $4.87 and its two-hundred day simple moving average is $3.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. Grab Holdings Limited has a 52-week low of $2.90 and a 52-week high of $5.72. The company has a market capitalization of $19.37 billion, a PE ratio of -240.50 and a beta of 0.90.

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

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.