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

Bank of America Corp DE lessened its holdings in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 32.0% in the 4th quarter, according to the company in 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 period. Bank of America Corp DE owned about 0.28% of Grab worth $53,574,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. BNP Paribas Financial Markets acquired a new stake in Grab during the fourth quarter valued at $137,561,000. Aptus Capital Advisors LLC bought a new position in shares of Grab in the fourth quarter worth about $57,000. Ancora Advisors LLC bought a new position in shares of Grab in the fourth quarter worth about $151,000. Caisse DE Depot ET Placement DU Quebec bought a new position in Grab during the fourth quarter valued at about $67,000. Finally, Uber Technologies Inc acquired a new stake in Grab during the fourth quarter valued at approximately $2,529,462,000. Institutional investors and hedge funds own 55.52% of the company's stock.

Grab Price Performance

Shares of GRAB traded up $0.03 during midday trading on Friday, hitting $5.09. The company's stock had a trading volume of 24,504,073 shares, compared to its average volume of 30,651,288. The stock has a market capitalization of $20.50 billion, a price-to-earnings ratio of -254.50, a price-to-earnings-growth ratio of 2.26 and a beta of 0.86. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. The company's fifty day simple moving average is $4.49 and its two-hundred day simple moving average is $4.69. Grab Holdings Limited has a one year low of $2.98 and a one year high of $5.72.

Grab (NASDAQ:GRAB - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. The firm had revenue of $764.00 million for the quarter, compared to the consensus estimate of $762.57 million. As a group, equities analysts expect that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. CLSA raised Grab to a "moderate buy" rating in a research note on Wednesday, April 9th. Benchmark reaffirmed a "buy" rating and set a $6.00 price target on shares of Grab in a research report on Thursday, February 20th. HSBC upgraded Grab from a "hold" rating to a "buy" rating and decreased their price objective for the stock from $5.50 to $5.45 in a report on Tuesday, February 4th. JPMorgan Chase & Co. decreased their price target on Grab from $5.60 to $5.30 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Finally, Barclays lifted their target price on Grab from $5.50 to $6.50 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Two equities research 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. According to MarketBeat, Grab presently has a consensus rating of "Moderate Buy" and an average price target of $5.60.

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.