Victory Capital Management Inc. Sells 396,890 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Victory Capital Management Inc. trimmed its position in Grab Holdings Limited (NASDAQ:GRAB) by 91.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,250 shares of the company’s stock after selling 396,890 shares during the quarter. Victory Capital Management Inc.’s holdings in Grab were worth $131,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in GRAB. Arena Capital Advisors LLC CA bought a new stake in Grab during the first quarter worth approximately $35,000. Commerce Bank bought a new stake in Grab during the first quarter worth approximately $31,000. Stifel Financial Corp bought a new stake in Grab during the first quarter worth approximately $33,000. Dimensional Fund Advisors LP bought a new stake in Grab during the first quarter worth approximately $40,000. Finally, Kore Private Wealth LLC bought a new stake in Grab during the second quarter worth approximately $29,000. 52.50% of the stock is owned by institutional investors.

Grab Stock Up 1.0 %

Shares of NASDAQ GRAB opened at $3.16 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.81 and a current ratio of 4.85. The firm has a market capitalization of $11.84 billion, a price-to-earnings ratio of -11.70 and a beta of 0.92. The stock has a 50 day moving average price of $3.46 and a 200 day moving average price of $3.36. Grab Holdings Limited has a 52-week low of $2.51 and a 52-week high of $4.03.

Grab (NASDAQ:GRAB) last announced its quarterly earnings results on Wednesday, August 23rd. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The firm had revenue of $567.00 million during the quarter, compared to analyst estimates of $549.33 million. Grab had a negative return on equity of 16.50% and a negative net margin of 55.26%. Grab’s quarterly revenue was up 76.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.15) earnings per share. Sell-side analysts expect that Grab Holdings Limited will post -0.1 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Citigroup boosted their price objective on Grab from $4.80 to $5.20 and gave the stock a “buy” rating in a research note on Thursday, August 24th. Benchmark boosted their target price on Grab from $4.00 to $6.00 and gave the company a “buy” rating in a research report on Thursday, August 24th. Evercore ISI boosted their target price on Grab from $5.00 to $7.00 and gave the company an “outperform” rating in a research report on Thursday, August 24th. Finally, Barclays upgraded Grab from an “equal weight” rating to an “overweight” rating and set a $4.50 target price for the company in a research report on Thursday, August 24th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $4.69.

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.