JPMorgan Chase & Co. Sells 17,600,261 Shares of Grab Holdings Limited (NASDAQ:GRAB)

JPMorgan Chase & Co. decreased its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 58.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,714,791 shares of the company’s stock after selling 17,600,261 shares during the quarter. JPMorgan Chase & Co.’s holdings in Grab were worth $48,316,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GRAB. Blue Trust Inc. boosted its holdings in shares of Grab by 53.6% during the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after buying an additional 3,408 shares during the period. Traynor Capital Management Inc. bought a new stake in shares of Grab during the third quarter worth approximately $41,000. Glenmede Trust Co. NA bought a new stake in shares of Grab during the third quarter worth approximately $53,000. Dorsey & Whitney Trust CO LLC grew its position in shares of Grab by 37.0% in the second 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 during the last quarter. Finally, Wedbush Securities Inc. bought a new position in shares of Grab during the second quarter worth approximately $65,000. 55.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on GRAB shares. Mizuho upped their price objective on Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Benchmark reaffirmed a “buy” rating and set a $6.00 price target on shares of Grab in a research report on Tuesday, November 12th. Evercore ISI lifted their price objective on shares of Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Hsbc Global Res lowered shares of Grab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Finally, China Renaissance downgraded shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 price target for the company. in a research report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Grab currently has an average rating of “Moderate Buy” and a consensus price target of $5.53.

Grab Stock Performance

Shares of GRAB stock opened at $4.81 on Friday. The firm has a market capitalization of $19.37 billion, a price-to-earnings ratio of -240.50 and a beta of 0.90. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. The business’s 50-day moving average price is $4.87 and its 200-day moving average price is $3.98. Grab Holdings Limited has a 12 month low of $2.90 and a 12 month high of $5.72.

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 company had revenue of $716.00 million during the quarter, compared to the consensus estimate 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 period last year, the company earned ($0.02) earnings per share. Equities research analysts forecast that Grab Holdings Limited will post -0.03 EPS for the current year.

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.