Mackenzie Financial Corp Sells 51,383 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Mackenzie Financial Corp cut its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 25.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,880 shares of the company’s stock after selling 51,383 shares during the quarter. Mackenzie Financial Corp’s holdings in Grab were worth $683,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Uber Technologies Inc bought a new stake in Grab during the 4th quarter worth about $2,529,462,000. Toyota Motor Corp bought a new stake in Grab during the 4th quarter worth about $1,052,117,000. Baillie Gifford & Co. lifted its position in Grab by 7.3% during the 1st quarter. Baillie Gifford & Co. now owns 50,443,998 shares of the company’s stock worth $228,511,000 after buying an additional 3,422,289 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Grab by 111.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 35,829,032 shares of the company’s stock worth $162,306,000 after buying an additional 18,882,118 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in Grab during the 4th quarter worth about $137,561,000. 55.52% of the stock is owned by institutional investors.

Grab Price Performance

Shares of NASDAQ GRAB opened at $4.77 on Thursday. The firm’s 50-day moving average price is $4.95 and its 200-day moving average price is $4.74. Grab Holdings Limited has a 1-year low of $3.08 and a 1-year high of $5.72. The firm has a market capitalization of $19.21 billion, a P/E ratio of 119.28 and a beta of 0.84. The company has a current ratio of 1.88, a quick ratio of 1.87 and a debt-to-equity ratio of 0.04.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. Grab had a net margin of 3.65% and a return on equity of 1.75%. The firm had revenue of $819.00 million for the quarter, compared to analyst estimates of $809.41 million. Equities research analysts anticipate that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GRAB has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Grab from $5.60 to $5.30 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. CLSA raised shares of Grab to a “moderate buy” rating in a report on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Grab has an average rating of “Moderate Buy” and a consensus target price of $5.82.

About Grab

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.