California Public Employees Retirement System Decreases Stock Holdings in Grab Holdings Limited (NASDAQ:GRAB)

California Public Employees Retirement System cut its stake in Grab Holdings Limited (NASDAQ:GRAB) by 3.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,262,985 shares of the company’s stock after selling 187,314 shares during the quarter. California Public Employees Retirement System’s holdings in Grab were worth $17,736,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Sage Rhino Capital LLC acquired a new stake in shares of Grab in the 3rd quarter worth approximately $38,000. Optas LLC acquired a new stake in Grab in the fourth quarter valued at $36,000. Jump Financial LLC purchased a new position in shares of Grab in the third quarter valued at $41,000. Cable Hill Partners LLC acquired a new position in shares of Grab during the 3rd quarter worth $48,000. Finally, Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of Grab in the 3rd quarter worth about $51,000. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Grab Stock Performance

Shares of GRAB opened at $3.50 on Tuesday. Grab Holdings Limited has a 1 year low of $2.67 and a 1 year high of $3.92. The company’s 50 day simple moving average is $3.24 and its 200 day simple moving average is $3.22. The company has a market capitalization of $13.73 billion, a price-to-earnings ratio of -35.00 and a beta of 0.91. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.87 and a current ratio of 3.90.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. The company had revenue of $653.00 million for the quarter, compared to analyst estimates of $633.82 million. Grab had a negative return on equity of 6.77% and a negative net margin of 18.43%. The business’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.10) EPS. On average, sell-side analysts predict that Grab Holdings Limited will post 0.01 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GRAB. JPMorgan Chase & Co. upgraded shares of Grab from a “neutral” rating to an “overweight” rating and raised their target price for the company from $3.60 to $3.80 in a report on Thursday, January 18th. HSBC restated a “buy” rating and set a $4.30 price objective on shares of Grab in a research report on Thursday, April 4th. Finally, Barclays dropped their price target on Grab from $4.50 to $4.30 and set an “overweight” rating for the company in a research report on Monday, February 5th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $5.10.

Grab 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.