Grab Holdings Limited (NASDAQ:GRAB) Shares Sold by Deltec Asset Management LLC

Deltec Asset Management LLC reduced its position in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 94.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 115,000 shares of the company's stock after selling 2,156,655 shares during the period. Deltec Asset Management LLC's holdings in Grab were worth $437,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Baillie Gifford & Co. purchased a new stake in shares of Grab during the 2nd quarter valued at approximately $166,587,000. Coronation Fund Managers Ltd. raised its position in Grab by 29.7% in the second quarter. Coronation Fund Managers Ltd. now owns 45,452,613 shares of the company's stock valued at $161,357,000 after purchasing an additional 10,410,574 shares during the period. Marshall Wace LLP grew its holdings in shares of Grab by 39.7% during the 2nd quarter. Marshall Wace LLP now owns 30,405,993 shares of the company's stock worth $107,941,000 after purchasing an additional 8,635,310 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Grab by 18.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company's stock worth $76,924,000 after purchasing an additional 3,163,309 shares during the last quarter. Finally, Prudential PLC raised its holdings in Grab by 13.9% in the 2nd quarter. Prudential PLC now owns 20,226,225 shares of the company's stock valued at $71,803,000 after buying an additional 2,461,934 shares during the period. 55.52% of the stock is owned by hedge funds and other institutional investors.

Grab Stock Performance

GRAB traded down $0.05 during trading on Wednesday, hitting $4.12. 15,852,503 shares of the stock were exchanged, compared to its average volume of 23,639,055. The company has a quick ratio of 2.97, a current ratio of 3.00 and a debt-to-equity ratio of 0.03. Grab Holdings Limited has a 1-year low of $2.90 and a 1-year high of $4.32. The stock has a fifty day moving average price of $3.61 and a two-hundred day moving average price of $3.53. The firm has a market capitalization of $16.16 billion, a P/E ratio of -59.57 and a beta of 0.83.

Grab (NASDAQ:GRAB - Get Free Report) last posted its quarterly earnings data on Thursday, August 15th. The company reported ($0.01) EPS for the quarter, meeting analysts' consensus estimates of ($0.01). The company had revenue of $664.00 million for the quarter, compared to analyst estimates of $674.17 million. Grab had a negative net margin of 8.24% and a negative return on equity of 3.35%. Grab's quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.03) earnings per share. As a group, sell-side analysts predict that Grab Holdings Limited will post -0.04 earnings per share for the current year.

Analyst Ratings Changes

GRAB has been the subject of a number of recent analyst reports. Jefferies Financial Group dropped their price target on shares of Grab from $5.00 to $4.70 and set a "buy" rating for the company in a research report on Wednesday, July 17th. Benchmark reissued a "buy" rating and issued a $6.00 target price on shares of Grab in a research report on Wednesday, September 11th. Finally, Daiwa Capital Markets initiated coverage on Grab in a research report on Wednesday, October 23rd. They issued an "outperform" rating and a $4.60 target price on the stock. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Grab has a consensus rating of "Buy" and a consensus target price of $4.70.

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.