KBC Group NV Sells 361,327 Shares of Grab Holdings Limited (NASDAQ:GRAB)

KBC Group NV cut its stake in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 23.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,203,170 shares of the company's stock after selling 361,327 shares during the quarter. KBC Group NV's holdings in Grab were worth $4,572,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Baillie Gifford & Co. acquired a new stake in shares of Grab in the second quarter valued at approximately $166,587,000. Point72 Asset Management L.P. purchased a new position in Grab during the second quarter worth about $57,696,000. Coronation Fund Managers Ltd. raised its stake in shares of Grab by 29.7% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 45,452,613 shares of the company's stock worth $161,357,000 after buying an additional 10,410,574 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Grab by 39.7% in the 2nd quarter. Marshall Wace LLP now owns 30,405,993 shares of the company's stock valued at $107,941,000 after buying an additional 8,635,310 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Grab by 129.4% in the third quarter. Assenagon Asset Management S.A. now owns 8,078,843 shares of the company's stock valued at $30,700,000 after buying an additional 4,557,800 shares in the last quarter. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on GRAB shares. Daiwa Capital Markets assumed coverage on Grab in a research note on Wednesday, October 23rd. They set an "outperform" rating and a $4.60 price target on the stock. Barclays increased their target price on Grab from $4.70 to $5.50 and gave the stock an "overweight" rating in a research report on Wednesday, November 13th. Benchmark restated a "buy" rating and issued a $6.00 price target on shares of Grab in a report on Tuesday, November 12th. Mizuho increased their target price on Grab from $5.00 to $6.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Finally, Evercore ISI lifted their price target 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. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Grab currently has a consensus rating of "Buy" and an average target price of $5.48.

Grab Stock Up 5.1 %

NASDAQ GRAB traded up $0.24 during trading on Monday, hitting $4.97. 50,023,363 shares of the company traded hands, compared to its average volume of 24,862,086. The company has a current ratio of 2.70, a quick ratio of 2.97 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $19.50 billion, a P/E ratio of -236.50 and a beta of 0.81. The business has a fifty day simple moving average of $3.90 and a 200 day simple moving average of $3.62. Grab Holdings Limited has a 12 month low of $2.90 and a 12 month high of $4.99.

Grab (NASDAQ:GRAB - Get Free Report) last announced its quarterly earnings results on Monday, November 11th. The company reported $0.01 EPS for the quarter. The company had revenue of $716.00 million for the quarter, compared to the consensus estimate 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 quarter last year, the company posted ($0.02) earnings per share. As a group, sell-side analysts predict that Grab Holdings Limited will post -0.03 EPS for the current year.

Grab 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.