Baillie Gifford & Co. Sells 506,436 Shares of Grab Holdings Limited $GRAB

Baillie Gifford & Co. reduced its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 1.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 47,625,480 shares of the company’s stock after selling 506,436 shares during the period. Baillie Gifford & Co.’s holdings in Grab were worth $286,705,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GRAB. Invesco Ltd. lifted its position in shares of Grab by 11.8% during the 2nd quarter. Invesco Ltd. now owns 63,881,785 shares of the company’s stock worth $321,325,000 after buying an additional 6,767,182 shares during the period. JPMorgan Chase & Co. raised its stake in Grab by 20.8% during the second quarter. JPMorgan Chase & Co. now owns 60,455,589 shares of the company’s stock worth $304,092,000 after acquiring an additional 10,428,014 shares in the last quarter. State Street Corp lifted its holdings in shares of Grab by 1.8% during the second quarter. State Street Corp now owns 43,322,397 shares of the company’s stock valued at $217,912,000 after acquiring an additional 759,696 shares during the period. Artisan Partners Limited Partnership boosted its stake in shares of Grab by 13.4% in the 2nd quarter. Artisan Partners Limited Partnership now owns 39,845,418 shares of the company’s stock valued at $200,422,000 after purchasing an additional 4,710,420 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Grab in the 2nd quarter worth about $175,192,000. Institutional investors and hedge funds own 55.52% of the company’s stock.

Wall Street Analysts Forecast Growth

GRAB has been the subject of several analyst reports. Jefferies Financial Group reissued a “buy” rating and set a $7.00 price target on shares of Grab in a report on Tuesday, November 4th. Hsbc Global Res upgraded shares of Grab from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 16th. Barclays boosted their target price on Grab from $6.50 to $7.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Grab in a report on Wednesday, October 8th. Finally, HSBC upgraded Grab from a “hold” rating to a “buy” rating and set a $6.20 price objective for the company in a research report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Grab has a consensus rating of “Buy” and an average target price of $6.58.

Grab Stock Performance

Shares of Grab stock opened at $4.58 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.83 and a quick ratio of 1.81. The firm has a 50 day simple moving average of $5.02 and a 200 day simple moving average of $5.35. Grab Holdings Limited has a fifty-two week low of $3.36 and a fifty-two week high of $6.62. The firm has a market cap of $18.44 billion, a P/E ratio of 114.53 and a beta of 0.90.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.02). The firm had revenue of $873.00 million during the quarter, compared to the consensus estimate of $870.44 million. Grab had a net margin of 3.81% and a return on equity of 1.91%. Sell-side analysts predict that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

About Grab

Grab Holdings Inc is a Singapore-based technology company that operates a consumer-facing “super app” across Southeast Asia offering services spanning ride-hailing, food and package delivery, and digital payments. Its platform connects consumers, drivers, merchants and delivery partners through mobile applications and supports on-demand mobility (taxi and private car), last-mile logistics, and on-demand food delivery under brands such as GrabFood and GrabExpress. The company has also developed a merchant-facing ecosystem that supports ordering, payment acceptance and loyalty functions.

Beyond transportation and delivery, Grab has expanded into financial services through Grab Financial Group, which provides digital payments via GrabPay, consumer lending, insurance distribution and small-business financial solutions.