Point72 Asset Management L.P. Cuts Stake in Grab Holdings Limited (NASDAQ:GRAB)

Point72 Asset Management L.P. lowered its stake in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 97.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 491,687 shares of the company's stock after selling 15,760,753 shares during the quarter. Point72 Asset Management L.P.'s holdings in Grab were worth $1,868,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Ratings Changes

A number of analysts recently issued reports on the company. China Renaissance downgraded Grab from a "buy" rating to a "hold" rating and set a $5.40 price objective for the company. in a research report on Thursday, November 21st. Evercore ISI raised their price objective on Grab from $7.00 to $8.00 and gave the stock an "outperform" rating in a report on Tuesday, November 12th. Mizuho boosted their price target on Grab from $5.00 to $6.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Benchmark reissued a "buy" rating and issued a $6.00 price target on shares of Grab in a report on Tuesday, November 12th. Finally, Barclays upped their target price on Grab from $4.70 to $5.50 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $5.53.

Grab Price Performance

Shares of Grab stock traded up $0.01 on Tuesday, reaching $5.34. 45,211,767 shares of the stock were exchanged, compared to its average volume of 26,139,662. The firm has a market cap of $21.50 billion, a PE ratio of -266.50 and a beta of 0.90. Grab Holdings Limited has a one year low of $2.90 and a one year high of $5.72. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. The firm's 50 day moving average is $4.42 and its 200-day moving average is $3.80.

Grab (NASDAQ:GRAB - Get Free Report) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.01 earnings per share 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 for the quarter, compared to analysts' expectations of $705.40 million. During the same period last year, the business earned ($0.02) EPS. As a group, analysts anticipate that Grab Holdings Limited will post -0.03 EPS for the current fiscal year.

About Grab

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.