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

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

Other institutional investors have also added to or reduced their stakes in the company. Uber Technologies Inc bought a new position in shares of Grab during the 4th quarter worth about $2,529,462,000. Toyota Motor Corp bought a new position in Grab in the fourth quarter worth approximately $1,052,117,000. Hanwha Asset Management Co. Ltd. acquired a new stake in Grab in the fourth quarter valued at approximately $227,718,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Grab by 5,066.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 33,914,101 shares of the company's stock valued at $160,075,000 after acquiring an additional 33,257,610 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Grab during the fourth quarter worth approximately $145,927,000. 55.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on GRAB shares. Citigroup reissued a "buy" rating on shares of Grab in a research report on Tuesday, February 4th. Barclays upped their price objective on shares of Grab from $5.50 to $6.50 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. HSBC raised Grab from a "hold" rating to a "buy" rating and reduced their target price for the company from $5.50 to $5.45 in a report on Tuesday, February 4th. JPMorgan Chase & Co. decreased their price objective on shares of Grab from $5.60 to $5.30 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, Benchmark reaffirmed a "buy" rating and issued a $6.00 price target on shares of Grab in a report on Thursday, February 20th. Two investment 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 stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $5.71.

Grab Price Performance

NASDAQ GRAB traded up $0.02 during trading hours on Wednesday, hitting $4.99. The company had a trading volume of 9,723,167 shares, compared to its average volume of 30,560,351. 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 capitalization of $20.07 billion, a price-to-earnings ratio of -249.25, a PEG ratio of 2.26 and a beta of 0.86. Grab Holdings Limited has a 52 week low of $2.98 and a 52 week high of $5.72. The firm has a 50 day simple moving average of $4.56 and a 200 day simple moving average of $4.74.

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