Mirae Asset Global Investments Co. Ltd. Sells 470,747 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Posted by Defense World Staff on May 21st, 2023

Mirae Asset Global Investments Co. Ltd. cut its holdings in Grab Holdings Limited (NASDAQ:GRAB – Get Rating) by 12.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,437,603 shares of the company’s stock after selling 470,747 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.09% of Grab worth $11,069,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GRAB. TD Asset Management Inc. grew its holdings in Grab by 15.2% during the third quarter. TD Asset Management Inc. now owns 273,918 shares of the company’s stock valued at $701,000 after purchasing an additional 36,118 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Grab by 0.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 835,707 shares of the company’s stock valued at $2,198,000 after purchasing an additional 4,267 shares during the period. KBC Group NV grew its holdings in Grab by 22.9% during the third quarter. KBC Group NV now owns 47,965 shares of the company’s stock valued at $126,000 after purchasing an additional 8,932 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Grab by 40.6% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 446,523 shares of the company’s stock valued at $1,174,000 after purchasing an additional 128,914 shares during the period. Finally, BBR Partners LLC grew its holdings in Grab by 116.7% during the third quarter. BBR Partners LLC now owns 71,782 shares of the company’s stock valued at $189,000 after purchasing an additional 38,652 shares during the period. 46.57% of the stock is owned by institutional investors.

Grab Trading Up 0.4 %

Shares of GRAB stock opened at $2.76 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 5.14 and a current ratio of 5.19. Grab Holdings Limited has a 52-week low of $2.19 and a 52-week high of $4.03. The company has a market capitalization of $10.32 billion, a PE ratio of -7.06 and a beta of 0.77. The business’s fifty day moving average is $2.96 and its 200 day moving average is $3.16.

Grab (NASDAQ:GRAB – Get Rating) last issued its quarterly earnings data on Thursday, May 18th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. Grab had a negative return on equity of 21.78% and a negative net margin of 86.94%. The company had revenue of $525.00 million for the quarter, compared to the consensus estimate of $505.00 million. During the same quarter last year, the business posted ($0.11) earnings per share. The firm’s revenue was up 130.3% compared to the same quarter last year. On average, equities research analysts anticipate that Grab Holdings Limited will post -0.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GRAB shares. Benchmark started coverage on Grab in a report on Thursday, April 20th. They set a “buy” rating and a $4.00 price objective for the company. Loop Capital dropped their target price on Grab from $5.00 to $4.00 in a research report on Wednesday, April 12th. Macquarie began coverage on Grab in a research report on Monday, March 13th. They set an “outperform” rating and a $4.00 target price on the stock. HSBC increased their target price on Grab from $4.03 to $4.20 in a research report on Friday. Finally, JPMorgan Chase & Co. downgraded Grab from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $3.20 to $2.80 in a research report on Wednesday, February 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Grab currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.87.

Grab Company Profile

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Grab Holdings Limited provides superapps that allows access to mobility, delivery, financial services, and enterprise offerings through its mobile application in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The company is headquartered in Singapore.