Shell Asset Management Co. lowered its stake in Grab Holdings Limited (NASDAQ:GRAB – Get Rating) by 19.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 59,630 shares of the company’s stock after selling 14,473 shares during the period. Shell Asset Management Co.’s holdings in Grab were worth $192,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of GRAB. SVB Wealth LLC bought a new position in Grab in the third quarter valued at approximately $27,000. Kore Private Wealth LLC acquired a new stake in shares of Grab in the second quarter valued at approximately $29,000. Eaton Vance Management acquired a new stake in shares of Grab in the third quarter valued at approximately $30,000. Arena Capital Advisors LLC CA acquired a new stake in shares of Grab in the first quarter valued at approximately $35,000. Finally, Ellevest Inc. raised its holdings in shares of Grab by 7,116.9% in the third quarter. Ellevest Inc. now owns 14,506 shares of the company’s stock valued at $38,000 after purchasing an additional 14,305 shares during the last quarter. Institutional investors own 46.57% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on GRAB shares. JPMorgan Chase & Co. downgraded shares of Grab from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $3.20 to $2.80 in a report on Wednesday, February 1st. Citigroup reduced their target price on shares of Grab from $5.00 to $4.80 and set a “buy” rating for the company in a research report on Friday, April 21st. Bank of America raised shares of Grab from a “neutral” rating to a “buy” rating and boosted their target price for the company from $3.60 to $4.20 in a research report on Tuesday, January 17th. Benchmark began coverage on shares of Grab in a research report on Thursday, April 20th. They set a “buy” rating and a $4.00 price objective for the company. Finally, Macquarie began coverage on shares of Grab in a research report on Monday, March 13th. They set an “outperform” rating and a $4.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $3.92.
Grab Stock Performance
Grab (NASDAQ:GRAB – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.04). Grab had a negative net margin of 117.45% and a negative return on equity of 23.71%. The firm had revenue of $502.00 million for the quarter, compared to analysts’ expectations of $405.39 million. The business’s revenue was up 311.5% on a year-over-year basis. On average, sell-side analysts predict that Grab Holdings Limited will post -0.17 EPS for the current year.
Grab Holdings Limited provides superapps that allows access to mobility, delivery, financial services, and enterprise offerings through its mobile application in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The company is headquartered in Singapore.
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