Barclays PLC Decreases Stake in Grab Holdings Limited (NASDAQ:GRAB)

Barclays PLC trimmed its position in shares of Grab Holdings Limited (NASDAQ:GRAB) by 46.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,445,427 shares of the company’s stock after selling 17,521,112 shares during the period. Barclays PLC owned about 0.52% of Grab worth $77,692,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Sequoia Financial Advisors LLC grew its position in Grab by 8.1% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 40,185 shares of the company’s stock valued at $143,000 after purchasing an additional 3,020 shares during the last quarter. AdvisorNet Financial Inc lifted its holdings in Grab by 40.6% in the 2nd quarter. AdvisorNet Financial Inc now owns 53,856 shares of the company’s stock worth $191,000 after purchasing an additional 15,560 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Grab by 17.1% during the second quarter. Assenagon Asset Management S.A. now owns 3,521,043 shares of the company’s stock worth $12,500,000 after acquiring an additional 514,741 shares during the last quarter. LA Financiere DE L Echiquier purchased a new position in shares of Grab during the second quarter valued at about $2,442,000. Finally, Coronation Fund Managers Ltd. grew its holdings in shares of Grab by 29.7% in the second quarter. Coronation Fund Managers Ltd. now owns 45,452,613 shares of the company’s stock valued at $161,357,000 after purchasing an additional 10,410,574 shares in the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. China Renaissance cut shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 price objective on the stock. in a research report on Thursday, November 21st. HSBC downgraded Grab from a “buy” rating to a “hold” rating and increased their price target for the stock from $4.25 to $5.50 in a research report on Thursday, December 5th. Daiwa Capital Markets started coverage on Grab in a report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 target price for the company. Mizuho boosted their price objective on shares of Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Barclays raised their price target on Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.53.

Grab Stock Performance

Shares of GRAB stock opened at $5.40 on Thursday. The company has a market cap of $21.75 billion, a price-to-earnings ratio of -270.00 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 stock has a 50 day simple moving average of $4.49 and a 200-day simple moving average of $3.83. Grab Holdings Limited has a 12-month low of $2.90 and a 12-month high of $5.72.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Monday, November 11th. The company reported $0.01 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 analyst estimates of $705.40 million. During the same quarter in the prior year, the business posted ($0.02) earnings per share. On average, equities analysts forecast that Grab Holdings Limited will post -0.03 EPS for the current year.

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.