Daiwa Securities Group Inc. Sells 85,457 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Daiwa Securities Group Inc. decreased its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 22.5% in the third quarter, HoldingsChannel reports. The fund owned 293,826 shares of the company’s stock after selling 85,457 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Grab were worth $1,117,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Sequoia Financial Advisors LLC boosted its holdings in Grab by 8.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 40,185 shares of the company’s stock worth $143,000 after buying an additional 3,020 shares during the period. Empowered Funds LLC boosted its holdings in Grab by 7.7% in the 3rd quarter. Empowered Funds LLC now owns 43,788 shares of the company’s stock worth $166,000 after buying an additional 3,147 shares during the period. Blue Trust Inc. boosted its holdings in Grab by 53.6% in the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after buying an additional 3,408 shares during the period. Dorsey & Whitney Trust CO LLC boosted its holdings in Grab by 37.0% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock worth $50,000 after buying an additional 3,795 shares during the period. Finally, Asset Management One Co. Ltd. boosted its holdings in Grab by 0.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 776,458 shares of the company’s stock worth $2,951,000 after buying an additional 3,941 shares during the period. Institutional investors own 55.52% of the company’s stock.

Grab Stock Down 3.5 %

Shares of NASDAQ GRAB opened at $5.00 on Friday. The firm’s 50-day moving average price is $4.22 and its 200-day moving average price is $3.72. 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 market capitalization of $20.14 billion, a price-to-earnings ratio of -250.00 and a beta of 0.81. Grab Holdings Limited has a 12-month low of $2.90 and a 12-month high of $5.72.

Grab (NASDAQ:GRAB) last announced 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 firm had revenue of $716.00 million for the quarter, compared to analysts’ expectations of $705.40 million. During the same period in the prior year, the company earned ($0.02) EPS. On average, equities research analysts anticipate that Grab Holdings Limited will post -0.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GRAB shares. Evercore ISI upped their target price on shares of Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Benchmark reissued a “buy” rating and set a $6.00 price objective on shares of Grab in a report on Tuesday, November 12th. China Renaissance downgraded shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 price objective for the company. in a report on Thursday, November 21st. Barclays increased their price objective on shares of Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, Bank of America downgraded shares of Grab from a “buy” rating to an “underperform” rating and set a $4.90 price objective for the company. in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $5.42.

About Grab

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.