Aviva PLC Trims Stake in Grab Holdings Limited (NASDAQ:GRAB)

Aviva PLC cut its position in shares of Grab Holdings Limited (NASDAQ:GRAB) by 8.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,744,943 shares of the company’s stock after selling 514,660 shares during the quarter. Aviva PLC’s holdings in Grab were worth $27,116,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Twin Tree Management LP bought a new position in shares of Grab during the fourth quarter valued at approximately $25,000. Global Retirement Partners LLC bought a new position in Grab in the 4th quarter valued at $30,000. Campbell Capital Management Inc. purchased a new stake in Grab in the fourth quarter worth $30,000. TD Private Client Wealth LLC lifted its position in shares of Grab by 7,238.5% during the fourth quarter. TD Private Client Wealth LLC now owns 7,999 shares of the company’s stock worth $38,000 after purchasing an additional 7,890 shares during the last quarter. Finally, Allianz SE purchased a new stake in shares of Grab during the fourth quarter valued at $44,000. 55.52% of the stock is currently owned by institutional investors.

Grab Price Performance

Shares of GRAB stock opened at $3.73 on Monday. The company has a market cap of $15.02 billion, a P/E ratio of -186.50, a PEG ratio of 2.26 and a beta of 0.88. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67. The stock’s 50-day moving average is $4.66 and its 200 day moving average is $4.56. Grab Holdings Limited has a 1-year low of $2.98 and a 1-year high of $5.72.

Grab (NASDAQ:GRAB) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. The firm had revenue of $764.00 million during the quarter, compared to analyst estimates of $762.57 million. Research analysts predict that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Barclays lifted their price objective on shares of Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. upgraded Grab from a “neutral” rating to an “overweight” rating and set a $5.60 price target for the company in a report on Friday, February 21st. Bank of America raised Grab from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $4.90 to $5.10 in a research note on Tuesday, January 7th. HSBC upgraded Grab from a “hold” rating to a “buy” rating and lowered their target price for the stock from $5.50 to $5.45 in a report on Tuesday, February 4th. Finally, Citigroup restated a “buy” rating on shares of Grab in a research note on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Grab has an average rating of “Moderate Buy” and a consensus target price of $5.62.

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.