Grab Holdings Limited (NASDAQ:GRAB) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in Grab Holdings Limited (NASDAQ:GRAB) by 57.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 8,306,165 shares of the company’s stock after selling 11,324,761 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Grab were worth $29,487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Baillie Gifford & Co. purchased a new stake in shares of Grab in the second quarter valued at about $166,587,000. Coronation Fund Managers Ltd. raised its holdings in shares of Grab by 29.7% in the second quarter. Coronation Fund Managers Ltd. now owns 45,452,613 shares of the company’s stock valued at $161,357,000 after buying an additional 10,410,574 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Grab by 39.7% in the second quarter. Marshall Wace LLP now owns 30,405,993 shares of the company’s stock valued at $107,941,000 after buying an additional 8,635,310 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Grab by 11.3% in the fourth quarter. Artisan Partners Limited Partnership now owns 24,894,289 shares of the company’s stock valued at $83,894,000 after buying an additional 2,523,484 shares during the last quarter. Finally, Prudential PLC raised its holdings in Grab by 13.9% during the second quarter. Prudential PLC now owns 20,226,225 shares of the company’s stock worth $71,803,000 after purchasing an additional 2,461,934 shares in the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on GRAB shares. Jefferies Financial Group cut their price target on shares of Grab from $5.00 to $4.70 and set a “buy” rating for the company in a report on Wednesday, July 17th. Mizuho started coverage on shares of Grab in a report on Thursday, June 27th. They set an “outperform” rating and a $5.00 price target for the company. Finally, Benchmark reissued a “buy” rating and set a $6.00 price target on shares of Grab in a report on Wednesday, September 11th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Grab currently has an average rating of “Buy” and a consensus price target of $4.71.

Grab Trading Up 1.4 %

Shares of Grab stock opened at $3.70 on Wednesday. Grab Holdings Limited has a 12-month low of $2.90 and a 12-month high of $3.77. The company has a current ratio of 3.00, a quick ratio of 2.97 and a debt-to-equity ratio of 0.03. The stock has a market cap of $14.52 billion, a PE ratio of -52.86 and a beta of 0.81. The company has a 50-day moving average of $3.34 and a two-hundred day moving average of $3.42.

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