The Manufacturers Life Insurance Company Reduces Stock Holdings in Grab Holdings Limited (NASDAQ:GRAB)

The Manufacturers Life Insurance Company trimmed its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 23.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,126,876 shares of the company’s stock after selling 1,259,132 shares during the period. The Manufacturers Life Insurance Company’s holdings in Grab were worth $15,682,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Blue Trust Inc. increased its position in Grab by 53.6% during the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after buying an additional 3,408 shares in the last quarter. Traynor Capital Management Inc. acquired a new stake in shares of Grab during the third quarter valued at $41,000. Sage Rhino Capital LLC acquired a new position in Grab in the 2nd quarter valued at about $38,000. Dorsey & Whitney Trust CO LLC lifted its holdings in Grab by 37.0% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock valued at $50,000 after purchasing an additional 3,795 shares in the last quarter. Finally, Prospect Financial Services LLC acquired a new stake in shares of Grab during the 2nd quarter worth about $53,000. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Grab Stock Performance

NASDAQ GRAB opened at $5.00 on Monday. The business’s 50-day simple moving average is $4.25 and its 200-day simple moving average is $3.74. The firm has a market capitalization of $20.14 billion, a P/E ratio of -250.00 and a beta of 0.81. Grab Holdings Limited has a 1-year low of $2.90 and a 1-year high of $5.72. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67.

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Evercore ISI increased their price target on Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. China Renaissance downgraded Grab from a “buy” rating to a “hold” rating and set a $5.40 price objective for the company. in a research report on Thursday, November 21st. Mizuho upped their target price on Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Benchmark reissued a “buy” rating and issued a $6.00 price target on shares of Grab in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Grab has an average rating of “Moderate Buy” and a consensus price target of $5.42.

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.