BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 5,705,835 Shares of Grab Holdings Limited (NASDAQ:GRAB)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 66.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,899,684 shares of the company's stock after selling 5,705,835 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.07% of Grab worth $13,687,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Twin Tree Management LP acquired a new stake in Grab during the 4th quarter worth approximately $25,000. Global Retirement Partners LLC acquired a new stake in Grab during the 4th quarter worth approximately $30,000. Campbell Capital Management Inc. acquired a new stake in Grab during the 4th quarter worth approximately $30,000. TD Private Client Wealth LLC lifted its holdings in Grab by 7,238.5% during the 4th 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 acquired a new stake in Grab during the 4th quarter worth approximately $44,000. 55.52% of the stock is currently owned by institutional investors.

Grab Trading Up 3.1%

Shares of GRAB opened at $4.96 on Friday. Grab Holdings Limited has a 52-week low of $2.98 and a 52-week high of $5.72. The business's fifty day moving average is $4.54 and its 200-day moving average is $4.72. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. The firm has a market cap of $19.97 billion, a price-to-earnings ratio of -248.00, a PEG ratio of 2.26 and a beta of 0.86.

Grab (NASDAQ:GRAB - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting 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 company had revenue of $764.00 million for the quarter, compared to analyst estimates of $762.57 million. Equities analysts anticipate that Grab Holdings Limited will post 0.05 EPS for the current fiscal year.

Analysts Set New Price Targets

GRAB has been the subject of several research reports. Hsbc Global Res raised Grab from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. Citigroup reaffirmed a "buy" rating on shares of Grab in a report on Tuesday, February 4th. HSBC raised Grab from a "hold" rating to a "buy" rating and dropped their price objective for the company from $5.50 to $5.45 in a report on Tuesday, February 4th. Barclays lifted their price objective on Grab from $5.50 to $6.50 and gave the company an "overweight" rating in a report on Thursday, February 20th. Finally, Benchmark reaffirmed a "buy" rating and issued a $6.00 price objective on shares of Grab in a report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $5.71.

Grab Company 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.

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