DnB Asset Management AS decreased its position in shares of Grab Holdings Limited (NASDAQ:GRAB – Free Report) by 90.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 320,278 shares of the company’s stock after selling 2,932,966 shares during the period. DnB Asset Management AS’s holdings in Grab were worth $1,099,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also bought and sold shares of GRAB. BlackRock Inc. bought a new position in Grab during the first quarter valued at $161,045,000. Capital Research Global Investors grew its holdings in shares of Grab by 50.9% in 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 during the last quarter. Contrarius Investment Management Ltd bought a new position in shares of Grab in the first quarter worth about $89,142,000. Fullerton Fund Management Co Ltd. grew its holdings in shares of Grab by 683.0% in the first quarter. Fullerton Fund Management Co Ltd. now owns 22,247,260 shares of the company’s stock worth $66,964,000 after purchasing an additional 19,405,959 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Grab in the fourth quarter worth about $56,535,000. Institutional investors own 52.50% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on GRAB shares. Benchmark upped their price target on shares of Grab from $4.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, August 24th. Evercore ISI upped their price target on shares of Grab from $5.00 to $7.00 and gave the stock an “outperform” rating in a report on Thursday, August 24th. Citigroup upped their price target on shares of Grab from $4.80 to $5.20 and gave the stock a “buy” rating in a report on Thursday, August 24th. JPMorgan Chase & Co. raised shares of Grab from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $2.55 to $3.10 in a research note on Wednesday, June 21st. Finally, Barclays raised shares of Grab from an “equal weight” rating to an “overweight” rating and set a $4.50 price objective for the company in a research note on Thursday, August 24th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $4.69.
Grab Stock Performance
GRAB stock opened at $3.49 on Wednesday. The firm has a market cap of $13.08 billion, a price-to-earnings ratio of -12.93 and a beta of 0.91. The firm has a 50-day simple moving average of $3.61 and a two-hundred day simple moving average of $3.27. Grab Holdings Limited has a one year low of $2.19 and a one year high of $4.03. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.81 and a current ratio of 4.85.
Grab (NASDAQ:GRAB – Get Free Report) last released its quarterly earnings results on Wednesday, August 23rd. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. The business had revenue of $567.00 million during the quarter, compared to analyst estimates of $549.33 million. Grab had a negative net margin of 55.26% and a negative return on equity of 16.50%. The company’s quarterly revenue was up 76.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.15) earnings per share. On average, equities analysts forecast that Grab Holdings Limited will post -0.11 EPS for the current fiscal year.
Grab Company 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.
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