Grab Holdings Limited (NASDAQ:GRAB) Shares Sold by XTX Topco Ltd

XTX Topco Ltd lowered its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 91.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,716 shares of the company’s stock after selling 314,650 shares during the quarter. XTX Topco Ltd’s holdings in Grab were worth $109,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GRAB. Baillie Gifford & Co. purchased a new position in shares of Grab in the 2nd quarter valued at approximately $166,587,000. Coronation Fund Managers Ltd. increased its stake in Grab by 29.7% in the 2nd 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 period. Prudential PLC increased its stake in Grab by 13.9% in the 2nd quarter. Prudential PLC now owns 20,226,225 shares of the company’s stock valued at $71,803,000 after buying an additional 2,461,934 shares during the period. Fullerton Fund Management Co Ltd. raised its position in Grab by 20.9% during the 4th quarter. Fullerton Fund Management Co Ltd. now owns 17,315,851 shares of the company’s stock worth $58,354,000 after buying an additional 2,997,442 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Grab by 1.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 17,079,853 shares of the company’s stock valued at $60,633,000 after acquiring an additional 226,455 shares in the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Price Performance

GRAB stock opened at $3.79 on Wednesday. The firm has a 50 day moving average of $3.38 and a 200-day moving average of $3.44. The company has a market cap of $14.87 billion, a price-to-earnings ratio of -54.14 and a beta of 0.81. The company has a current ratio of 3.00, a quick ratio of 2.97 and a debt-to-equity ratio of 0.03. Grab Holdings Limited has a 12-month low of $2.90 and a 12-month high of $3.88.

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

Analyst Ratings Changes

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

Grab Company 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.