Canada Pension Plan Investment Board Sells 2,228,900 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Canada Pension Plan Investment Board decreased its position in shares of Grab Holdings Limited (NASDAQ:GRAB) by 89.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 259,370 shares of the company’s stock after selling 2,228,900 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Grab were worth $921,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Baillie Gifford & Co. bought a new position in Grab in the 2nd quarter valued at approximately $166,587,000. Coronation Fund Managers Ltd. increased its holdings in Grab by 116.3% in the 1st quarter. Coronation Fund Managers Ltd. now owns 35,042,039 shares of the company’s stock worth $110,032,000 after buying an additional 18,839,407 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Grab in the 1st quarter worth about $52,920,000. Wellington Management Group LLP lifted its stake in Grab by 21,347.2% during the 4th quarter. Wellington Management Group LLP now owns 6,724,121 shares of the company’s stock valued at $22,660,000 after acquiring an additional 6,692,769 shares during the period. Finally, Jupiter Asset Management Ltd. lifted its stake in Grab by 69.5% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 9,759,357 shares of the company’s stock valued at $34,646,000 after acquiring an additional 4,000,600 shares during the period. Institutional investors own 55.52% of the company’s stock.

Grab Stock Up 1.3 %

GRAB stock opened at $3.85 on Friday. The business’s 50-day moving average price is $3.36 and its 200-day moving average price is $3.43. The stock has a market cap of $15.10 billion, a P/E ratio of -55.00 and a beta of 0.81. The company has a quick ratio of 2.97, a current ratio of 3.00 and a debt-to-equity ratio of 0.03. Grab Holdings Limited has a twelve month low of $2.90 and a twelve month high of $3.88.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GRAB. Benchmark reiterated a “buy” rating and set a $6.00 target price on shares of Grab in a research note on Wednesday, September 11th. Jefferies Financial Group dropped their target price on Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Finally, Mizuho assumed coverage on shares of Grab in a research report on Thursday, June 27th. They set an “outperform” rating and a $5.00 price target for the company. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $4.71.

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.