Marcho Partners LLP Sells 2,603,442 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Marcho Partners LLP reduced its position in shares of Grab Holdings Limited (NASDAQ:GRAB) by 29.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,204,477 shares of the company’s stock after selling 2,603,442 shares during the quarter. Grab accounts for approximately 6.3% of Marcho Partners LLP’s investment portfolio, making the stock its 5th biggest holding. Marcho Partners LLP owned approximately 0.16% of Grab worth $23,577,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Baillie Gifford & Co. acquired a new stake in shares of Grab in the second quarter valued at about $166,587,000. Coronation Fund Managers Ltd. increased its stake in Grab by 29.7% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 45,452,613 shares of the company’s stock worth $161,357,000 after buying an additional 10,410,574 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Grab by 39.7% in the second quarter. Marshall Wace LLP now owns 30,405,993 shares of the company’s stock valued at $107,941,000 after acquiring an additional 8,635,310 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Grab by 18.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company’s stock worth $76,924,000 after acquiring an additional 3,163,309 shares during the last quarter. Finally, Prudential PLC increased its position in shares of Grab by 13.9% during the second quarter. Prudential PLC now owns 20,226,225 shares of the company’s stock worth $71,803,000 after purchasing an additional 2,461,934 shares in the last quarter. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on GRAB shares. Benchmark restated a “buy” rating and issued a $6.00 price objective on shares of Grab in a report on Tuesday, November 12th. JPMorgan Chase & Co. increased their price target on Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a report on Tuesday, November 12th. China Renaissance lowered Grab from a “buy” rating to a “hold” rating and set a $5.40 price objective on the stock. in a research note on Thursday, November 21st. Bank of America cut shares of Grab from a “buy” rating to an “underperform” rating and set a $4.90 price objective for the company. in a research report on Friday, November 22nd. Finally, Evercore ISI increased their price target on shares of Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $5.42.

Grab Stock Up 2.1 %

Shares of NASDAQ GRAB opened at $5.29 on Wednesday. Grab Holdings Limited has a 52-week low of $2.90 and a 52-week high of $5.72. The business’s 50 day moving average is $4.28 and its two-hundred day moving average is $3.75. The firm has a market cap of $21.30 billion, a price-to-earnings ratio of -264.50 and a beta of 0.90. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04.

Grab (NASDAQ:GRAB) last posted its earnings results on Monday, November 11th. The company reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $716.00 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the company earned ($0.02) EPS. Research analysts predict 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.