Dover Advisors LLC Decreases Stock Holdings in Grab Holdings Limited (NASDAQ:GRAB)

Dover Advisors LLC lessened its stake in Grab Holdings Limited (NASDAQ:GRAB) by 31.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,000 shares of the company’s stock after selling 6,328 shares during the quarter. Dover Advisors LLC’s holdings in Grab were worth $53,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Baillie Gifford & Co. acquired a new position in Grab in the 2nd quarter valued at $166,587,000. Coronation Fund Managers Ltd. raised its holdings in Grab by 29.7% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 45,452,613 shares of the company’s stock valued at $161,357,000 after acquiring an additional 10,410,574 shares during the last quarter. Marshall Wace LLP lifted its stake in Grab by 39.7% in the 2nd quarter. Marshall Wace LLP now owns 30,405,993 shares of the company’s stock worth $107,941,000 after purchasing an additional 8,635,310 shares in the last quarter. Prudential PLC boosted its holdings in shares of Grab by 13.9% during the 2nd quarter. Prudential PLC now owns 20,226,225 shares of the company’s stock worth $71,803,000 after purchasing an additional 2,461,934 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Grab by 1.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 17,079,853 shares of the company’s stock valued at $60,633,000 after purchasing an additional 226,455 shares in the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Wall Street Analysts Forecast Growth

GRAB has been the topic of a number of recent research reports. Benchmark reissued a “buy” rating and set a $6.00 price objective on shares of Grab in a research note on Wednesday, September 11th. Jefferies Financial Group dropped their price objective on shares of Grab from $5.00 to $4.70 and set a “buy” rating for the company in a report on Wednesday, July 17th. Finally, Mizuho started coverage on shares of Grab in a report on Thursday, June 27th. They issued an “outperform” rating and a $5.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $4.71.

Grab Stock Down 0.6 %

Grab stock traded down $0.02 during mid-day trading on Tuesday, reaching $3.61. 32,692,742 shares of the company’s stock were exchanged, compared to its average volume of 23,057,195. The company has a fifty day moving average of $3.46 and a 200-day moving average of $3.48. The company has a market cap of $14.16 billion, a P/E ratio of -51.57 and a beta of 0.83. The company has a quick ratio of 2.97, a current ratio of 3.00 and a debt-to-equity ratio of 0.03. Grab Holdings Limited has a twelve month low of $2.90 and a twelve month high of $3.88.

Grab (NASDAQ:GRAB) last posted its earnings results on Thursday, August 15th. The company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). Grab had a negative net margin of 8.24% and a negative return on equity of 3.35%. The firm had revenue of $664.00 million for the quarter, compared to the consensus estimate of $674.17 million. During the same period last year, the firm posted ($0.03) EPS. The company’s revenue was up 17.1% on a year-over-year basis. Sell-side analysts expect that Grab Holdings Limited will post -0.04 EPS for the current year.

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.