Barclays PLC Sells 8,411,424 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Barclays PLC trimmed its stake in Grab Holdings Limited (NASDAQ:GRAB) by 41.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,034,003 shares of the company’s stock after selling 8,411,424 shares during the period. Barclays PLC owned 0.30% of Grab worth $56,802,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Hanwha Asset Management Co. Ltd. bought a new position in shares of Grab in the 4th quarter worth about $227,718,000. Baillie Gifford & Co. boosted its position in shares of Grab by 10.0% in the 4th quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company’s stock worth $221,942,000 after purchasing an additional 4,259,537 shares in the last quarter. Perpetual Ltd purchased a new stake in shares of Grab in the 4th quarter worth approximately $213,177,000. Arrowstreet Capital Limited Partnership raised its stake in Grab by 5,066.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 33,914,101 shares of the company’s stock valued at $160,075,000 after buying an additional 33,257,610 shares during the last quarter. Finally, Norges Bank bought a new stake in Grab in the fourth quarter worth $145,927,000. Institutional investors own 55.52% of the company’s stock.

Wall Street Analyst Weigh In

GRAB has been the subject of several recent analyst reports. Bank of America raised Grab from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $4.90 to $5.10 in a research report on Tuesday, January 7th. 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 research note on Wednesday. CLSA raised shares of Grab to a “moderate buy” rating in a research report on Wednesday, April 9th. Barclays upped their price objective on Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Finally, Hsbc Global Res raised Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Grab currently has an average rating of “Moderate Buy” and a consensus target price of $5.60.

Grab Trading Down 0.5 %

NASDAQ:GRAB opened at $4.04 on Thursday. The firm has a market capitalization of $16.27 billion, a price-to-earnings ratio of -202.00, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67. The business has a fifty day moving average price of $4.52 and a 200-day moving average price of $4.56. Grab Holdings Limited has a one year low of $2.98 and a one year high of $5.72.

Grab (NASDAQ:GRAB) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $764.00 million for the quarter, compared to the consensus estimate of $762.57 million. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. Sell-side analysts forecast that Grab Holdings Limited will post 0.05 EPS for the current 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.