Twenty Acre Capital LP Sells 220,100 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Twenty Acre Capital LP lowered its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 10.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,811,700 shares of the company’s stock after selling 220,100 shares during the quarter. Grab accounts for about 6.1% of Twenty Acre Capital LP’s holdings, making the stock its 7th biggest position. Twenty Acre Capital LP’s holdings in Grab were worth $6,884,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Grab by 2.3% during the first quarter. Vanguard Group Inc. now owns 7,505,636 shares of the company’s stock worth $23,568,000 after buying an additional 166,063 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Grab by 32.2% in the 1st quarter. Advisors Asset Management Inc. now owns 29,739 shares of the company’s stock worth $93,000 after acquiring an additional 7,239 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Grab by 20.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 364,983 shares of the company’s stock valued at $1,147,000 after purchasing an additional 61,183 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Grab by 5.3% in the first quarter. California State Teachers Retirement System now owns 2,449,429 shares of the company’s stock valued at $7,691,000 after purchasing an additional 122,890 shares during the last quarter. Finally, DNB Asset Management AS lifted its position in shares of Grab by 87.6% during the second quarter. DNB Asset Management AS now owns 515,020 shares of the company’s stock valued at $1,828,000 after purchasing an additional 240,482 shares in the last quarter. Institutional investors own 55.52% of the company’s stock.

Wall Street Analysts Forecast Growth

GRAB has been the subject of a number of recent analyst reports. Barclays upped their price objective on shares of Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. China Renaissance downgraded Grab from a “buy” rating to a “hold” rating and set a $5.40 price target for the company. in a research report on Thursday, November 21st. Mizuho boosted their price objective on Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their price objective on shares of Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Finally, Daiwa Capital Markets started coverage on shares of Grab in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 target price on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.42.

Grab Stock Performance

Shares of GRAB opened at $5.00 on Friday. The stock’s 50-day simple moving average is $4.22 and its 200 day simple moving average is $3.72. Grab Holdings Limited has a 52-week low of $2.90 and a 52-week high of $5.72. The stock has a market capitalization of $20.14 billion, a price-to-earnings ratio of -250.00 and a beta of 0.81. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70.

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

Grab 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.