XTX Topco Ltd Trims Holdings in Grab Holdings Limited (NASDAQ:GRAB)

XTX Topco Ltd reduced its stake in Grab Holdings Limited (NASDAQ:GRAB) by 91.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 30,716 shares of the company’s stock after selling 314,650 shares during the quarter. XTX Topco Ltd’s holdings in Grab were worth $109,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GRAB. Goldman Sachs Group Inc. lifted its stake in Grab by 1.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 7,648,194 shares of the company’s stock worth $25,774,000 after purchasing an additional 126,365 shares in the last quarter. California State Teachers Retirement System boosted its holdings in Grab by 3.8% during the 4th quarter. California State Teachers Retirement System now owns 2,326,539 shares of the company’s stock valued at $7,840,000 after acquiring an additional 85,670 shares during the period. Quadrature Capital Ltd boosted its holdings in Grab by 125.0% during the 1st quarter. Quadrature Capital Ltd now owns 1,062,944 shares of the company’s stock valued at $3,348,000 after acquiring an additional 590,580 shares during the period. Prudential PLC grew its position in Grab by 1.9% in the 4th quarter. Prudential PLC now owns 15,176,454 shares of the company’s stock valued at $51,145,000 after acquiring an additional 279,196 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in Grab by 30.1% during the second quarter. SG Americas Securities LLC now owns 3,796,898 shares of the company’s stock worth $13,479,000 after purchasing an additional 878,375 shares during the period. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Jefferies Financial Group lowered their price objective on shares of Grab from $5.00 to $4.70 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Mizuho started coverage on shares of Grab in a research note on Thursday, June 27th. They issued an “outperform” rating and a $5.00 price target for the company. Finally, Benchmark reiterated a “buy” rating and issued a $6.00 price objective on shares of Grab in a research note on Wednesday, September 11th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $4.71.

Grab Stock Down 0.3 %

Shares of NASDAQ GRAB opened at $3.79 on Wednesday. The business has a 50-day moving average of $3.38 and a two-hundred day moving average of $3.44. The company has a market capitalization of $14.87 billion, a price-to-earnings ratio of -54.14 and a beta of 0.81. Grab Holdings Limited has a 1 year low of $2.90 and a 1 year high of $3.88. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.00 and a quick ratio of 2.97.

Grab (NASDAQ:GRAB) last posted its earnings results on Thursday, August 15th. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). The business had revenue of $664.00 million for the quarter, compared to analysts’ expectations of $674.17 million. Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. The business’s revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. On average, analysts forecast that Grab Holdings Limited will post -0.01 earnings per share 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.