Grab Holdings Limited (NASDAQ:GRAB) Shares Sold by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. reduced its position in shares of Grab Holdings Limited (NASDAQ:GRAB) by 34.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,758,757 shares of the company’s stock after selling 3,018,643 shares during the period. Jupiter Asset Management Ltd.’s holdings in Grab were worth $18,082,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in shares of Grab in the fourth quarter valued at approximately $146,995,000. Coronation Fund Managers Ltd. lifted its position in shares of Grab by 116.3% in the first quarter. Coronation Fund Managers Ltd. now owns 35,042,039 shares of the company’s stock valued at $110,032,000 after acquiring an additional 18,839,407 shares in the last quarter. Artisan Partners Limited Partnership lifted its position in shares of Grab by 11.3% in the fourth quarter. Artisan Partners Limited Partnership now owns 24,894,289 shares of the company’s stock valued at $83,894,000 after acquiring an additional 2,523,484 shares in the last quarter. Fullerton Fund Management Co Ltd. lifted its position in shares of Grab by 20.9% in the fourth quarter. Fullerton Fund Management Co Ltd. now owns 17,315,851 shares of the company’s stock valued at $58,354,000 after acquiring an additional 2,997,442 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Grab in the first quarter valued at approximately $52,920,000. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Trading Down 0.9 %

Shares of NASDAQ GRAB traded down $0.03 during trading on Friday, reaching $3.38. The stock had a trading volume of 17,210,239 shares, compared to its average volume of 14,490,939. Grab Holdings Limited has a fifty-two week low of $2.90 and a fifty-two week high of $3.92. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.22 and a current ratio of 3.26. The business’s 50-day moving average price is $3.59 and its 200-day moving average price is $3.38. The company has a market cap of $13.26 billion, a P/E ratio of -48.28 and a beta of 0.81.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Wednesday, May 15th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). Grab had a negative net margin of 11.86% and a negative return on equity of 4.62%. The firm had revenue of $653.00 million during the quarter, compared to analyst estimates of $662.48 million. On average, equities research analysts predict that Grab Holdings Limited will post -0.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GRAB has been the subject of several recent research reports. Mizuho initiated coverage on Grab in a report on Thursday, June 27th. They issued an “outperform” rating and a $5.00 price target for the company. Barclays increased their price target on Grab from $4.30 to $4.70 and gave the company an “overweight” rating in a report on Wednesday, May 22nd. Jefferies Financial Group cut their price target on Grab from $5.00 to $4.70 and set a “buy” rating for the company in a report on Wednesday. HSBC reaffirmed a “buy” rating and issued a $4.30 price target on shares of Grab in a report on Thursday, April 4th. Finally, Benchmark reaffirmed a “buy” rating and issued a $6.00 price target on shares of Grab in a report on Thursday, May 16th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $5.02.

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.