Headlands Technologies LLC Lowers Stake in Grab Holdings Limited (NASDAQ:GRAB)

Key Points

• Headlands Technologies LLC significantly reduced its investment in Grab Holdings Limited by 92.5%, selling over 1 million shares, leaving it with approximately 87,703 shares valued at $397,000.
• Multiple investors, including Garde Capital and Proficio Capital Partners, established new positions in Grab during the first quarter, highlighting ongoing interest despite Headlands' divestiture.
• JPMorgan Chase & Co. lowered Grab's target price from $5.60 to $5.30 while maintaining an "overweight" rating, amidst a consensus rating of "Moderate Buy" among analysts.

Headlands Technologies LLC lessened its stake in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 92.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,703 shares of the company's stock after selling 1,081,859 shares during the period. Headlands Technologies LLC's holdings in Grab were worth $397,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of GRAB. LPL Financial LLC raised its position in Grab by 221.0% during the 4th quarter. LPL Financial LLC now owns 118,439 shares of the company's stock valued at $559,000 after purchasing an additional 81,543 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Grab by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 7,597,592 shares of the company's stock worth $35,861,000 after acquiring an additional 23,653 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new position in shares of Grab in the 4th quarter worth approximately $104,000. Wells Fargo & Company MN raised its position in shares of Grab by 1,032.5% in the 4th quarter. Wells Fargo & Company MN now owns 225,155 shares of the company's stock worth $1,063,000 after acquiring an additional 205,274 shares in the last quarter. Finally, Wedbush Securities Inc. raised its position in shares of Grab by 19.1% in the 4th quarter. Wedbush Securities Inc. now owns 21,800 shares of the company's stock worth $103,000 after acquiring an additional 3,500 shares in the last quarter. Institutional investors own 55.52% of the company's stock.

Grab Stock Up 2.6%

GRAB traded up $0.13 during trading on Wednesday, hitting $5.12. 34,349,835 shares of the company's stock traded hands, compared to its average volume of 36,696,512. The company's 50 day simple moving average is $4.95 and its two-hundred day simple moving average is $4.75. The company has a current ratio of 1.88, a quick ratio of 1.87 and a debt-to-equity ratio of 0.04. Grab Holdings Limited has a 12-month low of $3.08 and a 12-month high of $5.72. The stock has a market capitalization of $20.62 billion, a price-to-earnings ratio of 128.03 and a beta of 0.84.

Grab (NASDAQ:GRAB - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.01 EPS for the quarter, hitting analysts' consensus estimates of $0.01. The company had revenue of $819.00 million for the quarter, compared to analysts' expectations of $809.41 million. Grab had a return on equity of 1.75% and a net margin of 3.65%. Analysts predict that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. reduced their price objective on Grab from $5.60 to $5.30 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $5.82.

About Grab

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.