Point72 Asset Management L.P. Trims Stock Position in Grab Holdings Limited (NASDAQ:GRAB)

Point72 Asset Management L.P. decreased its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 97.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 491,687 shares of the company’s stock after selling 15,760,753 shares during the quarter. Point72 Asset Management L.P.’s holdings in Grab were worth $1,868,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in GRAB. Allspring Global Investments Holdings LLC boosted its stake in shares of Grab by 18.5% during the 3rd 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. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Grab in the 3rd quarter worth $22,434,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Grab during the third quarter valued at $2,757,000. Caz Investments LP grew its holdings in Grab by 100.0% during the third quarter. Caz Investments LP now owns 3,700,232 shares of the company’s stock valued at $13,598,000 after purchasing an additional 1,850,116 shares during the period. Finally, Public Sector Pension Investment Board increased its position in Grab by 24.0% in the third quarter. Public Sector Pension Investment Board now owns 1,095,005 shares of the company’s stock worth $4,161,000 after buying an additional 211,800 shares in the last quarter. 55.52% of the stock is currently owned by institutional investors.

Grab Price Performance

Shares of Grab stock opened at $5.33 on Tuesday. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. Grab Holdings Limited has a 12 month low of $2.90 and a 12 month high of $5.72. The stock has a 50 day moving average of $4.42 and a 200 day moving average of $3.80. The firm has a market cap of $21.46 billion, a PE ratio of -266.50 and a beta of 0.90.

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. HSBC downgraded Grab from a “buy” rating to a “hold” rating and boosted their price objective for the company from $4.25 to $5.50 in a research note on Thursday, December 5th. Barclays increased their price objective on shares of Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. China Renaissance downgraded shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 target price for the company. in a report on Thursday, November 21st. Bank of America cut Grab from a “buy” rating to an “underperform” rating and set a $4.90 price target on the stock. in a report on Friday, November 22nd. Finally, Benchmark reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Grab in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $5.53.

Grab Company 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.