Gulf International Bank UK Ltd Sells 5,215 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Gulf International Bank UK Ltd decreased its position in shares of Grab Holdings Limited (NASDAQ:GRAB) by 3.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 160,781 shares of the company’s stock after selling 5,215 shares during the period. Gulf International Bank UK Ltd’s holdings in Grab were worth $610,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dorsey & Whitney Trust CO LLC purchased a new stake in Grab in the 1st quarter worth about $32,000. Blue Trust Inc. raised its holdings in shares of Grab by 53.6% in 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 during the period. Sage Rhino Capital LLC bought a new stake in shares of Grab during the 2nd quarter worth approximately $38,000. Traynor Capital Management Inc. purchased a new position in Grab during the 3rd quarter valued at $41,000. Finally, Prospect Financial Services LLC bought a new position in Grab in the 2nd quarter valued at $53,000. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Grab Trading Down 0.9 %

NASDAQ GRAB opened at $4.23 on Friday. Grab Holdings Limited has a one year low of $2.90 and a one year high of $4.44. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.97 and a current ratio of 3.00. The company has a market capitalization of $16.59 billion, a price-to-earnings ratio of -84.60 and a beta of 0.81. The company’s 50-day simple moving average is $3.76 and its two-hundred day simple moving average is $3.57.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Thursday, August 15th. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). The company had revenue of $664.00 million during the quarter, compared to the consensus estimate of $674.17 million. Grab had a negative net margin of 8.24% and a negative return on equity of 3.35%. Grab’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. Equities analysts forecast that Grab Holdings Limited will post -0.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GRAB has been the subject of several research analyst reports. Benchmark reiterated a “buy” rating and set a $6.00 target price on shares of Grab in a research report on Wednesday, September 11th. Daiwa Capital Markets initiated coverage on shares of Grab in a research report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price objective for the company. Finally, Jefferies Financial Group reduced their target price on shares of Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Grab has a consensus rating of “Buy” and a consensus price target of $4.70.

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.