Sumitomo Mitsui Trust Holdings Inc. Sells 103,617 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 2.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,037,203 shares of the company’s stock after selling 103,617 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.11% of Grab worth $13,605,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Barclays PLC boosted its stake in shares of Grab by 21,204.4% during the third quarter. Barclays PLC now owns 37,301,928 shares of the company’s stock valued at $132,048,000 after purchasing an additional 37,126,838 shares during the period. Ward Ferry Management BVI Ltd purchased a new position in shares of Grab in the third quarter valued at about $56,614,000. Artisan Partners Limited Partnership raised its stake in shares of Grab by 94.5% during the third quarter. Artisan Partners Limited Partnership now owns 22,370,805 shares of the company’s stock valued at $79,193,000 after acquiring an additional 10,869,136 shares during the last quarter. Kinetic Partners Management LP purchased a new stake in shares of Grab during the third quarter worth about $23,176,000. Finally, Coronation Fund Managers Ltd. grew its stake in shares of Grab by 37.2% in the third quarter. Coronation Fund Managers Ltd. now owns 17,756,341 shares of the company’s stock worth $62,857,000 after purchasing an additional 4,817,174 shares during the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Grab Price Performance

GRAB opened at $3.35 on Tuesday. Grab Holdings Limited has a 12-month low of $2.67 and a 12-month high of $3.92. The company has a market cap of $13.14 billion, a price-to-earnings ratio of -33.50 and a beta of 0.91. The company has a current ratio of 3.90, a quick ratio of 3.87 and a debt-to-equity ratio of 0.10. The stock has a fifty day simple moving average of $3.24 and a two-hundred day simple moving average of $3.22.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. Grab had a negative net margin of 18.43% and a negative return on equity of 6.77%. The company had revenue of $653.00 million during the quarter, compared to analysts’ expectations of $633.82 million. During the same period last year, the company posted ($0.10) EPS. Grab’s revenue was up 30.1% on a year-over-year basis. Research analysts predict that Grab Holdings Limited will post 0.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GRAB has been the subject of several research analyst reports. HSBC reiterated a “buy” rating and issued a $4.30 price objective on shares of Grab in a report on Thursday, April 4th. JPMorgan Chase & Co. raised shares of Grab from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $3.60 to $3.80 in a research report on Thursday, January 18th. Finally, Barclays dropped their target price on shares of Grab from $4.50 to $4.30 and set an “overweight” rating for the company in a research report on Monday, February 5th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $5.10.

Grab 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.