Ieq Capital LLC Cuts Stock Holdings in Grab Holdings Limited (NASDAQ:GRAB)

Posted by on Apr 30th, 2023

Ieq Capital LLC trimmed its position in Grab Holdings Limited (NASDAQ:GRAB – Get Rating) by 15.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 113,759 shares of the company’s stock after selling 21,062 shares during the quarter. Ieq Capital LLC’s holdings in Grab were worth $366,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Capital Research Global Investors increased its position in shares of Grab by 50.9% during the first quarter. Capital Research Global Investors now owns 108,322,250 shares of the company’s stock worth $379,128,000 after purchasing an additional 36,542,740 shares in the last quarter. BlackRock Inc. grew its holdings in Grab by 12.3% during the third quarter. BlackRock Inc. now owns 59,537,755 shares of the company’s stock worth $156,584,000 after acquiring an additional 6,530,705 shares during the period. State Street Corp increased its holdings in shares of Grab by 37.7% in the 3rd quarter. State Street Corp now owns 22,248,352 shares of the company’s stock valued at $58,513,000 after purchasing an additional 6,086,110 shares in the last quarter. Capital International Investors increased its holdings in Grab by 0.8% in the first quarter. Capital International Investors now owns 19,097,374 shares of the company’s stock valued at $66,841,000 after buying an additional 145,174 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Grab by 3.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 15,708,534 shares of the company’s stock worth $39,743,000 after purchasing an additional 522,820 shares during the last quarter. 46.57% of the stock is owned by hedge funds and other institutional investors.

Grab Trading Up 4.3 %

Shares of GRAB opened at $2.91 on Friday. The stock’s fifty day simple moving average is $3.00 and its 200 day simple moving average is $3.10. Grab Holdings Limited has a twelve month low of $2.19 and a twelve month high of $4.03. The company has a current ratio of 5.19, a quick ratio of 5.14 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $10.89 billion, a P/E ratio of -6.61 and a beta of 0.77.

Grab (NASDAQ:GRAB – Get Rating) last released its quarterly earnings data on Thursday, February 23rd. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.04). Grab had a negative net margin of 117.45% and a negative return on equity of 23.71%. The firm had revenue of $502.00 million during the quarter, compared to analyst estimates of $405.39 million. The firm’s quarterly revenue was up 311.5% on a year-over-year basis. On average, equities research analysts forecast that Grab Holdings Limited will post -0.17 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lowered Grab from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $3.20 to $2.80 in a research note on Wednesday, February 1st. Macquarie initiated coverage on shares of Grab in a research note on Monday, March 13th. They issued an “outperform” rating and a $4.00 target price for the company. Bank of America raised shares of Grab from a “neutral” rating to a “buy” rating and raised their price target for the stock from $3.60 to $4.20 in a research note on Tuesday, January 17th. Benchmark initiated coverage on shares of Grab in a research report on Thursday, April 20th. They issued a “buy” rating and a $4.00 price objective for the company. Finally, Loop Capital decreased their target price on shares of Grab from $5.00 to $4.00 in a research report on Wednesday, April 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $3.92.

Grab Company Profile

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Grab Holdings Limited provides superapps that allows access to mobility, delivery, financial services, and enterprise offerings through its mobile application in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The company is headquartered in Singapore.

See Also

Institutional Ownership by Quarter for Grab (NASDAQ:GRAB)

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