Squarepoint Ops LLC Sells 917,471 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Squarepoint Ops LLC cut its stake in Grab Holdings Limited (NASDAQ:GRAB) by 44.3% during the second quarter, HoldingsChannel reports. The fund owned 1,154,319 shares of the company’s stock after selling 917,471 shares during the quarter. Squarepoint Ops LLC’s holdings in Grab were worth $4,098,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its stake in Grab by 1.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 7,648,194 shares of the company’s stock valued at $25,774,000 after purchasing an additional 126,365 shares during the last quarter. California State Teachers Retirement System grew its position in shares of Grab by 3.8% in the 4th quarter. California State Teachers Retirement System now owns 2,326,539 shares of the company’s stock worth $7,840,000 after buying an additional 85,670 shares during the last quarter. Quadrature Capital Ltd raised its stake in shares of Grab by 125.0% during the 1st quarter. Quadrature Capital Ltd now owns 1,062,944 shares of the company’s stock worth $3,348,000 after acquiring an additional 590,580 shares in the last quarter. Prudential PLC lifted its position in Grab by 1.9% during the fourth quarter. Prudential PLC now owns 15,176,454 shares of the company’s stock valued at $51,145,000 after acquiring an additional 279,196 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in Grab by 30.1% in the second quarter. SG Americas Securities LLC now owns 3,796,898 shares of the company’s stock valued at $13,479,000 after acquiring an additional 878,375 shares in the last quarter. 55.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Grab Stock Down 1.3 %

Grab stock opened at $3.80 on Tuesday. Grab Holdings Limited has a fifty-two week low of $2.90 and a fifty-two week high of $3.88. The company has a market cap of $14.91 billion, a PE ratio of -54.29 and a beta of 0.81. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.97 and a current ratio of 3.00. The business’s 50-day simple moving average is $3.37 and its two-hundred day simple moving average is $3.44.

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