Artisan Partners Limited Partnership Sells 3,938,469 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Artisan Partners Limited Partnership trimmed its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 10.2% during the fourth quarter, HoldingsChannel reports. The fund owned 34,831,319 shares of the company’s stock after selling 3,938,469 shares during the period. Artisan Partners Limited Partnership’s holdings in Grab were worth $164,404,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Hanwha Asset Management Co. Ltd. bought a new stake in shares of Grab in the fourth quarter valued at about $227,718,000. Perpetual Ltd bought a new stake in Grab in the 4th quarter valued at approximately $213,177,000. Wellington Management Group LLP boosted its position in Grab by 13.4% during the 3rd quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock worth $472,394,000 after acquiring an additional 14,671,388 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Grab by 109.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 16,946,914 shares of the company’s stock valued at $79,989,000 after purchasing an additional 8,868,071 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Grab by 179.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,462,483 shares of the company’s stock worth $47,357,000 after purchasing an additional 8,004,912 shares in the last quarter. 55.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GRAB has been the topic of several recent research reports. JPMorgan Chase & Co. upgraded shares of Grab from a “neutral” rating to an “overweight” rating and set a $5.60 price target on the stock in a research note on Friday, February 21st. Benchmark reaffirmed a “buy” rating and set a $6.00 price objective on shares of Grab in a research report on Thursday, February 20th. Hsbc Global Res upgraded Grab from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. HSBC raised shares of Grab from a “hold” rating to a “buy” rating and cut their price objective for the company from $5.50 to $5.45 in a report on Tuesday, February 4th. Finally, Barclays lifted their price target on shares of Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $5.62.

Grab Trading Up 5.3 %

Shares of GRAB opened at $4.78 on Thursday. 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 52-week low of $2.98 and a 52-week high of $5.72. The firm has a market cap of $19.25 billion, a price-to-earnings ratio of -239.00, a PEG ratio of 2.26 and a beta of 0.88. The business’s fifty day moving average is $4.68 and its 200-day moving average is $4.50.

Grab (NASDAQ:GRAB) last released its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. The firm had revenue of $764.00 million for the quarter, compared to analysts’ expectations of $762.57 million. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. Equities analysts anticipate that Grab Holdings Limited will post 0.05 EPS for the current fiscal year.

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.