Russell Investments Group Ltd. Sells 38,448 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Russell Investments Group Ltd. lessened its stake in Grab Holdings Limited (NASDAQ:GRAB) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,188,243 shares of the company’s stock after selling 38,448 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.09% of Grab worth $10,744,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Sage Rhino Capital LLC purchased a new position in Grab in the 3rd quarter valued at approximately $38,000. Optas LLC purchased a new position in Grab in the 4th quarter valued at approximately $36,000. Jump Financial LLC purchased a new position in Grab in the 3rd quarter valued at approximately $41,000. Cable Hill Partners LLC purchased a new position in Grab in the 3rd quarter valued at approximately $48,000. Finally, Meiji Yasuda Asset Management Co Ltd. purchased a new position in Grab in the 3rd quarter valued at approximately $51,000. Institutional investors own 55.52% of the company’s stock.

Grab Stock Up 0.9 %

GRAB opened at $3.53 on Monday. Grab Holdings Limited has a one year low of $2.67 and a one year high of $3.92. The company has a fifty day moving average price of $3.26 and a 200-day moving average price of $3.23. The firm has a market capitalization of $13.85 billion, a P/E ratio of -35.30 and a beta of 0.81. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.90 and a quick ratio of 3.87.

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

Analyst Upgrades and Downgrades

GRAB has been the subject of a number of recent research reports. Barclays reduced their price objective on shares of Grab from $4.50 to $4.30 and set an “overweight” rating for the company in a research note on Monday, February 5th. HSBC restated a “buy” rating and set a $4.30 price target on shares of Grab in a research report on Thursday, April 4th. Finally, JPMorgan Chase & Co. upgraded shares of Grab from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $3.60 to $3.80 in a research report on Thursday, January 18th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price 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.