Grab Holdings Limited $GRAB Shares Sold by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership lessened its stake in Grab Holdings Limited (NASDAQ:GRAB) by 33.1% in the 3rd quarter, Holdings Channel reports. The firm owned 26,637,704 shares of the company’s stock after selling 13,207,714 shares during the period. Artisan Partners Limited Partnership’s holdings in Grab were worth $160,359,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AlphaCore Capital LLC purchased a new position in shares of Grab during the second quarter worth $33,000. Prospera Financial Services Inc purchased a new stake in shares of Grab in the 2nd quarter valued at $50,000. Savant Capital LLC acquired a new position in Grab during the 2nd quarter worth about $51,000. Orion Porfolio Solutions LLC purchased a new position in Grab during the 2nd quarter valued at about $54,000. Finally, EverSource Wealth Advisors LLC grew its position in Grab by 98.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 11,797 shares of the company’s stock valued at $59,000 after acquiring an additional 5,866 shares in the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Grab Stock Up 2.4%

GRAB stock opened at $4.31 on Friday. The stock has a market cap of $17.36 billion, a P/E ratio of 143.71, a PEG ratio of 0.95 and a beta of 0.92. The company has a current ratio of 1.75, a quick ratio of 1.73 and a debt-to-equity ratio of 0.06. Grab Holdings Limited has a twelve month low of $3.36 and a twelve month high of $6.62. The company’s 50 day moving average is $4.60 and its two-hundred day moving average is $5.21.

Grab (NASDAQ:GRAB) last issued its earnings results on Wednesday, February 11th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.03. Grab had a net margin of 7.92% and a return on equity of 4.09%. The business had revenue of $906.00 million during the quarter, compared to analysts’ expectations of $942.08 million. Research analysts expect that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. HSBC raised shares of Grab from a “hold” rating to a “buy” rating and set a $6.20 price target on the stock in a research report on Friday, January 16th. Benchmark reiterated a “buy” rating on shares of Grab in a report on Thursday, February 12th. Wall Street Zen upgraded shares of Grab from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Barclays increased their price objective on Grab from $6.50 to $7.00 and gave the company an “overweight” rating in a research note on Tuesday, November 11th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $7.00 target price on shares of Grab in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $6.47.

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.