Wellington Management Group LLP Trims Stock Position in Grab Holdings Limited (NASDAQ:GRAB)

Wellington Management Group LLP trimmed its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 45.7% in the fourth quarter, HoldingsChannel reports. The firm owned 67,533,320 shares of the company’s stock after selling 56,780,966 shares during the period. Wellington Management Group LLP’s holdings in Grab were worth $318,757,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Baillie Gifford & Co. grew its holdings in Grab by 10.0% during the 4th quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company’s stock valued at $221,942,000 after buying an additional 4,259,537 shares during the last quarter. Tidal Investments LLC boosted its stake in shares of Grab by 4,311.8% during the third quarter. Tidal Investments LLC now owns 445,103 shares of the company’s stock valued at $1,691,000 after acquiring an additional 435,014 shares during the last quarter. Leibman Financial Services Inc. purchased a new stake in Grab during the 4th quarter worth about $937,000. Sumitomo Mitsui Trust Group Inc. raised its stake in Grab by 2.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,707,627 shares of the company’s stock valued at $22,220,000 after purchasing an additional 134,243 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Grab by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 20,666,618 shares of the company’s stock valued at $77,414,000 after purchasing an additional 591,898 shares in the last quarter. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Grab Trading Up 0.4 %

NASDAQ GRAB opened at $4.55 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. Grab Holdings Limited has a one year low of $2.98 and a one year high of $5.72. The company’s 50 day moving average price is $4.68 and its 200 day moving average price is $4.54. The firm has a market capitalization of $18.32 billion, a price-to-earnings ratio of -227.50, a PEG ratio of 2.26 and a beta of 0.88.

Grab (NASDAQ:GRAB) last posted its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. The business had revenue of $764.00 million for the quarter, compared to analyst estimates of $762.57 million. On average, sell-side analysts predict that Grab Holdings Limited will post 0.05 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Citigroup reiterated a “buy” rating on shares of Grab in a report on Tuesday, February 4th. HSBC upgraded Grab from a “hold” rating to a “buy” rating and cut their price target for the company from $5.50 to $5.45 in a report on Tuesday, February 4th. Benchmark reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Grab in a research report on Thursday, February 20th. Bank of America upgraded Grab from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $4.90 to $5.10 in a research report on Tuesday, January 7th. Finally, Barclays lifted their price target on Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.62.

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.