Russell Investments Group Ltd. Sells 38,448 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Russell Investments Group Ltd. decreased its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 1.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,188,243 shares of the company’s stock after selling 38,448 shares during the period. Russell Investments Group Ltd.’s holdings in Grab were worth $10,744,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Barclays PLC lifted its holdings in Grab by 21,204.4% during the 3rd quarter. Barclays PLC now owns 37,301,928 shares of the company’s stock valued at $132,048,000 after buying an additional 37,126,838 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in Grab by 94.5% during the 3rd quarter. Artisan Partners Limited Partnership now owns 22,370,805 shares of the company’s stock valued at $79,193,000 after buying an additional 10,869,136 shares in the last quarter. Ward Ferry Management BVI Ltd bought a new stake in Grab during the 3rd quarter valued at about $56,614,000. Prudential PLC lifted its holdings in Grab by 5.2% during the 3rd quarter. Prudential PLC now owns 14,897,258 shares of the company’s stock valued at $52,736,000 after buying an additional 732,033 shares in the last quarter. Finally, Kaizen Capital Partners Ltd raised its holdings in shares of Grab by 10.2% in the 3rd quarter. Kaizen Capital Partners Ltd now owns 12,400,161 shares of the company’s stock valued at $43,897,000 after purchasing an additional 1,147,715 shares in the last quarter. Institutional investors own 55.52% of the company’s stock.

Grab Trading Up 0.9 %

NASDAQ:GRAB opened at $3.53 on Monday. Grab Holdings Limited has a 52 week low of $2.67 and a 52 week high of $3.92. The firm has a 50 day moving average of $3.26 and a 200 day moving average of $3.23. The company has a quick ratio of 3.87, a current ratio of 3.90 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $13.85 billion, a price-to-earnings ratio of -35.30 and a beta of 0.81.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Barclays reduced their price target on shares of Grab from $4.50 to $4.30 and set an “overweight” rating for the company in a report on Monday, February 5th. HSBC restated a “buy” rating and issued a $4.30 price target on shares of Grab in a report on Thursday, April 4th. Finally, JPMorgan Chase & Co. upgraded shares of Grab from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $3.60 to $3.80 in a report on Thursday, January 18th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $5.10.

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.