Grab Holdings Limited (NASDAQ:GRAB) Shares Sold by Atreides Management LP

Atreides Management LP trimmed its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 33.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,677,707 shares of the company’s stock after selling 3,335,057 shares during the period. Atreides Management LP’s holdings in Grab were worth $25,375,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake in Grab by 18.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company’s stock valued at $76,924,000 after acquiring an additional 3,163,309 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Grab in the 3rd quarter valued at $22,434,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Grab in the 3rd quarter valued at $2,757,000. Caz Investments LP lifted its stake in shares of Grab by 100.0% in the 3rd quarter. Caz Investments LP now owns 3,700,232 shares of the company’s stock valued at $13,598,000 after purchasing an additional 1,850,116 shares during the period. Finally, Thompson Siegel & Walmsley LLC acquired a new position in shares of Grab in the 3rd quarter valued at $1,986,000. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GRAB shares. Mizuho boosted their target price on shares of Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. China Renaissance cut shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 target price for the company. in a research note on Thursday, November 21st. JPMorgan Chase & Co. boosted their target price on shares of Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Benchmark reiterated a “buy” rating and issued a $6.00 target price on shares of Grab in a research note on Tuesday, November 12th. Finally, Barclays boosted their price target on shares of Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Grab presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.42.

Grab Price Performance

Grab stock opened at $5.00 on Monday. Grab Holdings Limited has a 52-week low of $2.90 and a 52-week high of $5.72. The firm has a market capitalization of $20.14 billion, a price-to-earnings ratio of -250.00 and a beta of 0.81. The company has a fifty day simple moving average of $4.25 and a 200-day simple moving average of $3.74. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04.

Grab (NASDAQ:GRAB) last released its earnings results on Monday, November 11th. The company reported $0.01 earnings per share (EPS) for the quarter. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The business 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 firm earned ($0.02) earnings per share. On average, equities analysts anticipate that Grab Holdings Limited will post -0.03 EPS for the current fiscal 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.