Private Advisor Group LLC Sells 2,741 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Private Advisor Group LLC lowered its position in Grab Holdings Limited (NASDAQ:GRAB) by 11.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,619 shares of the company’s stock after selling 2,741 shares during the period. Private Advisor Group LLC’s holdings in Grab were worth $78,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. GFG Capital LLC purchased a new position in Grab in the third quarter worth about $149,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Grab by 18.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company’s stock worth $76,924,000 after purchasing an additional 3,163,309 shares during the period. Blue Trust Inc. grew its position in Grab by 53.6% during the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after buying an additional 3,408 shares during the period. Harbour Capital Advisors LLC bought a new stake in Grab during the third quarter valued at approximately $313,000. Finally, CX Institutional purchased a new stake in Grab during the third quarter valued at approximately $342,000. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GRAB. Daiwa Capital Markets started coverage on shares of Grab in a research report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price objective for the company. Benchmark reissued a “buy” rating and set a $6.00 price target on shares of Grab in a report on Wednesday, September 11th. Finally, Jefferies Financial Group decreased their price objective on Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $4.70.

Grab Stock Performance

NASDAQ GRAB opened at $4.23 on Friday. The company has a quick ratio of 2.97, a current ratio of 3.00 and a debt-to-equity ratio of 0.03. Grab Holdings Limited has a twelve month low of $2.90 and a twelve month high of $4.44. The business has a 50-day moving average price of $3.76 and a 200-day moving average price of $3.57. The firm has a market cap of $16.59 billion, a price-to-earnings ratio of -84.60 and a beta of 0.81.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data on Thursday, August 15th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). Grab had a negative net margin of 8.24% and a negative return on equity of 3.35%. The business had revenue of $664.00 million during the quarter, compared to analyst estimates of $674.17 million. During the same period last year, the firm posted ($0.03) EPS. The company’s revenue was up 17.1% on a year-over-year basis. As a group, equities research analysts predict that Grab Holdings Limited will post -0.04 EPS 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.