KBC Group NV Sells 361,327 Shares of Grab Holdings Limited (NASDAQ:GRAB)

KBC Group NV reduced its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 23.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,203,170 shares of the company’s stock after selling 361,327 shares during the period. KBC Group NV’s holdings in Grab were worth $4,572,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Baillie Gifford & Co. bought a new stake in Grab in the second quarter valued at approximately $166,587,000. Point72 Asset Management L.P. acquired a new position in shares of Grab in the 2nd quarter worth approximately $57,696,000. Coronation Fund Managers Ltd. boosted its stake in shares of Grab by 29.7% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 45,452,613 shares of the company’s stock valued at $161,357,000 after purchasing an additional 10,410,574 shares during the last quarter. Marshall Wace LLP increased its position in shares of Grab by 39.7% during the second quarter. Marshall Wace LLP now owns 30,405,993 shares of the company’s stock worth $107,941,000 after buying an additional 8,635,310 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in Grab by 129.4% during the third quarter. Assenagon Asset Management S.A. now owns 8,078,843 shares of the company’s stock worth $30,700,000 after buying an additional 4,557,800 shares during the last quarter. 55.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GRAB shares. Benchmark reaffirmed a “buy” rating and set a $6.00 price target on shares of Grab in a research report on Tuesday, November 12th. Evercore ISI raised their target price on Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Barclays boosted their price target on Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Daiwa Capital Markets assumed 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Grab has a consensus rating of “Buy” and an average price target of $5.48.

Grab Stock Performance

Shares of GRAB stock opened at $4.73 on Monday. The company has a current ratio of 2.70, a quick ratio of 2.97 and a debt-to-equity ratio of 0.04. The firm has a fifty day simple moving average of $3.90 and a two-hundred day simple moving average of $3.62. Grab Holdings Limited has a 12 month low of $2.90 and a 12 month high of $4.93. The firm has a market capitalization of $18.56 billion, a PE ratio of -236.50 and a beta of 0.81.

Grab (NASDAQ:GRAB) last posted its earnings results on Monday, November 11th. The company reported $0.01 EPS for the quarter. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The company had revenue of $716.00 million during the quarter, compared to the consensus estimate of $705.40 million. During the same period in the previous year, the firm posted ($0.02) earnings per share. Analysts forecast that Grab Holdings Limited will post -0.03 EPS for the current fiscal year.

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.