KBC Group NV Sells 361,327 Shares of Grab Holdings Limited (NASDAQ:GRAB)

KBC Group NV reduced its position in shares of Grab Holdings Limited (NASDAQ:GRAB) by 23.1% during the third quarter, Holdings Channel reports. The firm owned 1,203,170 shares of the company’s stock after selling 361,327 shares during the period. KBC Group NV’s holdings in Grab were worth $4,572,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC bought a new position in shares of Grab during the 1st quarter worth approximately $111,000. Vanguard Group Inc. lifted its holdings in Grab by 2.3% during the first quarter. Vanguard Group Inc. now owns 7,505,636 shares of the company’s stock worth $23,568,000 after acquiring an additional 166,063 shares during the period. Acadian Asset Management LLC boosted its position in Grab by 14.7% in the first quarter. Acadian Asset Management LLC now owns 70,088 shares of the company’s stock worth $219,000 after purchasing an additional 8,970 shares during the last quarter. Lake Street Advisors Group LLC grew its stake in Grab by 4,415.1% in the 1st quarter. Lake Street Advisors Group LLC now owns 695,324 shares of the company’s stock valued at $2,183,000 after purchasing an additional 679,924 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in Grab by 155.1% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,000,000 shares of the company’s stock valued at $6,280,000 after purchasing an additional 1,216,000 shares during the period. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Grab Price Performance

Grab stock opened at $4.73 on Monday. The firm has a 50 day simple moving average of $3.90 and a 200 day simple moving average of $3.62. The company has a current ratio of 2.70, a quick ratio of 2.97 and a debt-to-equity ratio of 0.04. Grab Holdings Limited has a 1-year low of $2.90 and a 1-year high of $4.93. The firm has a market capitalization of $18.56 billion, a price-to-earnings ratio of -236.50 and a beta of 0.81.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $716.00 million for the quarter, compared to analysts’ expectations of $705.40 million. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. During the same quarter in the prior year, the firm posted ($0.02) EPS. On average, analysts predict that Grab Holdings Limited will post -0.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Mizuho boosted their price target on shares of Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Benchmark reiterated a “buy” rating and issued a $6.00 target price on shares of Grab in a research note on Tuesday, November 12th. Barclays raised their price target on shares of Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. lifted their price target on shares of Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Finally, Daiwa Capital Markets started coverage on Grab in a report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price objective for the company. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $5.48.

About Grab

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.