Wellington Management Group LLP lowered its position in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 45.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 67,533,320 shares of the company's stock after selling 56,780,966 shares during the quarter. Wellington Management Group LLP owned 1.68% of Grab worth $318,757,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the business. Hanwha Asset Management Co. Ltd. acquired a new position in Grab during the fourth quarter valued at approximately $227,718,000. Baillie Gifford & Co. boosted its holdings in shares of Grab by 10.0% in the 4th quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company's stock valued at $221,942,000 after buying an additional 4,259,537 shares during the last quarter. Perpetual Ltd acquired a new stake in shares of Grab in the 4th quarter valued at approximately $213,177,000. State Street Corp grew its stake in shares of Grab by 2.3% in the third quarter. State Street Corp now owns 43,570,388 shares of the company's stock valued at $165,567,000 after buying an additional 967,233 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Grab by 5,066.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 33,914,101 shares of the company's stock worth $160,075,000 after buying an additional 33,257,610 shares during the last quarter. 55.52% of the stock is owned by institutional investors.
Grab Price Performance
Grab stock traded down $0.53 during midday trading on Friday, reaching $3.73. The company's stock had a trading volume of 87,059,443 shares, compared to its average volume of 29,240,202. The stock has a market cap of $15.02 billion, a PE ratio of -186.50, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. Grab Holdings Limited has a 52 week low of $2.98 and a 52 week high of $5.72. The business has a 50-day moving average price of $4.66 and a 200-day moving average price of $4.56.
Grab (NASDAQ:GRAB - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.01. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. The business had revenue of $764.00 million during the quarter, compared to analysts' expectations of $762.57 million. On average, sell-side analysts predict that Grab Holdings Limited will post 0.05 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. raised shares of Grab from a "neutral" rating to an "overweight" rating and set a $5.60 price objective for the company in a research report on Friday, February 21st. Bank of America upgraded Grab from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $4.90 to $5.10 in a research note on Tuesday, January 7th. Hsbc Global Res raised Grab from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. Barclays raised their price target on Grab from $5.50 to $6.50 and gave the company an "overweight" rating in a report on Thursday, February 20th. Finally, Benchmark reiterated a "buy" rating and issued a $6.00 price objective on shares of Grab in a report on Thursday, February 20th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.62.
Get Our Latest Research Report on Grab
Grab Company Profile
(
Free Report)
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.
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