SG Americas Securities LLC Sells 2,883,585 Shares of Grab Holdings Limited (NASDAQ:GRAB)

SG Americas Securities LLC decreased its stake in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 96.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 114,577 shares of the company's stock after selling 2,883,585 shares during the period. SG Americas Securities LLC's holdings in Grab were worth $541,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of GRAB. Blue Trust Inc. boosted its position in Grab by 53.6% during the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company's stock valued at $35,000 after acquiring an additional 3,408 shares in the last quarter. Traynor Capital Management Inc. purchased a new stake in shares of Grab in the 3rd quarter worth about $41,000. Glenmede Trust Co. NA purchased a new position in shares of Grab during the third quarter valued at approximately $53,000. First Trust Direct Indexing L.P. increased its position in Grab by 34.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 18,435 shares of the company's stock valued at $70,000 after buying an additional 4,725 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in Grab during the second quarter valued at $73,000. Hedge funds and other institutional investors own 55.52% of the company's stock.

Grab Stock Performance

NASDAQ GRAB traded up $0.57 during trading hours on Tuesday, hitting $5.11. 77,105,956 shares of the company's stock traded hands, compared to its average volume of 26,601,377. Grab Holdings Limited has a 52 week low of $2.98 and a 52 week high of $5.72. The firm has a market capitalization of $20.58 billion, a P/E ratio of -255.50, a P/E/G ratio of 1.91 and a beta of 0.90. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. The business's fifty day moving average price is $4.85 and its two-hundred day moving average price is $4.15.

Grab (NASDAQ:GRAB - Get Free Report) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.01 earnings per share (EPS) for the quarter. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The firm had revenue of $716.00 million during the quarter, compared to the consensus estimate of $705.40 million. During the same quarter in the previous year, the firm posted ($0.02) EPS. Equities research analysts predict that Grab Holdings Limited will post -0.02 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GRAB. China Renaissance downgraded Grab from a "buy" rating to a "hold" rating and set a $5.40 price target for the company. in a report on Thursday, November 21st. Daiwa Capital Markets assumed coverage on shares of Grab in a research note on Wednesday, October 23rd. They set an "outperform" rating and a $4.60 price objective for the company. Bank of America upgraded shares of Grab from an "underperform" rating to a "neutral" rating and upped their target price for the stock from $4.90 to $5.10 in a research note on Tuesday, January 7th. JPMorgan Chase & Co. boosted their price objective on shares of Grab from $5.00 to $5.70 and gave the stock an "overweight" rating in a report on Tuesday, November 12th. Finally, HSBC upgraded Grab from a "hold" rating to a "buy" rating and cut their target price for the company from $5.50 to $5.45 in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Grab presently has an average rating of "Moderate Buy" and an average target price of $5.54.

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.