Bank of America Corp DE Sells 5,338,175 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Bank of America Corp DE lowered its stake in Grab Holdings Limited (NASDAQ:GRAB) by 32.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,350,392 shares of the company’s stock after selling 5,338,175 shares during the quarter. Bank of America Corp DE owned about 0.28% of Grab worth $53,574,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and 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 4th quarter valued at about $25,000. Global Retirement Partners LLC bought a new position in shares of Grab during the 4th quarter valued at approximately $30,000. Campbell Capital Management Inc. bought a new stake in Grab in the fourth quarter worth $30,000. TD Private Client Wealth LLC increased its position in Grab by 7,238.5% in 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 Grab during the fourth quarter valued at $44,000. Institutional investors own 55.52% of the company’s stock.

Grab Trading Up 0.8%

GRAB stock opened at $5.03 on Wednesday. Grab Holdings Limited has a 12 month low of $2.98 and a 12 month high of $5.72. The firm’s 50-day moving average is $4.45 and its 200 day moving average is $4.68. The company has a market capitalization of $20.26 billion, a PE ratio of -251.50, a P/E/G ratio of 2.26 and a beta of 0.86. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67.

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

Analysts Set New Price Targets

A number of equities analysts have commented on GRAB shares. Citigroup reissued a “buy” rating on shares of Grab in a research note on Tuesday, February 4th. HSBC raised Grab from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $5.50 to $5.45 in a research note on Tuesday, February 4th. CLSA upgraded Grab to a “moderate buy” rating in a report on Wednesday, April 9th. JPMorgan Chase & Co. cut their target price on Grab from $5.60 to $5.30 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Finally, Hsbc Global Res upgraded Grab from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $5.60.

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.