Grab Holdings Limited (NASDAQ:GRAB) Shares Sold by Quadrature Capital Ltd

Quadrature Capital Ltd reduced its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 37.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 569,238 shares of the company’s stock after selling 335,700 shares during the quarter. Quadrature Capital Ltd’s holdings in Grab were worth $2,157,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Baillie Gifford & Co. purchased a new stake in shares of Grab during the 2nd quarter valued at approximately $166,587,000. Coronation Fund Managers Ltd. raised its position in shares of Grab by 29.7% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 45,452,613 shares of the company’s stock valued at $161,357,000 after buying an additional 10,410,574 shares during the period. Marshall Wace LLP raised its position in shares of Grab by 39.7% during the 2nd quarter. Marshall Wace LLP now owns 30,405,993 shares of the company’s stock valued at $107,941,000 after buying an additional 8,635,310 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of 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 buying an additional 3,163,309 shares during the period. Finally, Prudential PLC raised its position in shares of Grab by 13.9% during the 2nd quarter. Prudential PLC now owns 20,226,225 shares of the company’s stock valued at $71,803,000 after buying an additional 2,461,934 shares during the period. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GRAB has been the topic of several analyst reports. Benchmark reaffirmed a “buy” rating and set a $6.00 price target on shares of Grab in a research report on Tuesday, November 12th. China Renaissance lowered shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 price target on the stock. in a research report on Thursday, November 21st. Hsbc Global Res lowered Grab from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Evercore ISI boosted their target price on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Finally, Daiwa Capital Markets started coverage on Grab in a research report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 target price on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.53.

Grab Stock Performance

NASDAQ:GRAB opened at $5.14 on Friday. The company has a fifty day simple moving average of $4.39 and a two-hundred day simple moving average of $3.79. The company has a market cap of $20.70 billion, a price-to-earnings ratio of -257.00 and a beta of 0.90. 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 Holdings Limited has a 52 week low of $2.90 and a 52 week high of $5.72.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Monday, November 11th. The company reported $0.01 EPS for the quarter. The business had revenue of $716.00 million during the quarter, compared to the consensus estimate of $705.40 million. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. As a group, equities analysts anticipate that Grab Holdings Limited will post -0.03 earnings per share for the current fiscal year.

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.