Exchange Traded Concepts LLC Trims Stock Holdings in Grab Holdings Limited (NASDAQ:GRAB)

Exchange Traded Concepts LLC lessened its position in shares of Grab Holdings Limited (NASDAQ:GRABFree Report) by 18.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 272,142 shares of the company’s stock after selling 62,986 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Grab were worth $1,285,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Blue Trust Inc. boosted its position in Grab by 53.6% in the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after buying an additional 3,408 shares during the last quarter. Traynor Capital Management Inc. purchased a new stake in shares of Grab in the 3rd quarter valued at $41,000. Glenmede Trust Co. NA purchased a new position in shares of Grab during the third quarter worth $53,000. First Trust Direct Indexing L.P. lifted its position in Grab by 34.5% during the third quarter. First Trust Direct Indexing L.P. now owns 18,435 shares of the company’s stock valued at $70,000 after purchasing an additional 4,725 shares during the period. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in Grab in the second quarter valued at $73,000. 55.52% of the stock is owned by institutional investors and hedge funds.

Grab Trading Down 3.0 %

Shares of Grab stock opened at $4.44 on Tuesday. Grab Holdings Limited has a twelve month low of $2.98 and a twelve month high of $5.72. The firm’s 50-day moving average price is $4.93 and its 200 day moving average price is $4.10. 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 firm has a market capitalization of $17.86 billion, a PE ratio of -221.75, a P/E/G ratio of 1.84 and a beta of 0.90.

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on GRAB. Barclays boosted their price objective on Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Evercore ISI boosted their price target on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Mizuho raised their price objective on shares of Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. increased 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, China Renaissance cut shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 price objective for the company. in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $5.55.

Get Our Latest Research Report on Grab

Grab Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Grab (NASDAQ:GRAB)

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