Matthews International Capital Management LLC trimmed its stake in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 25.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,622,237 shares of the company's stock after selling 1,251,930 shares during the period. Grab comprises about 3.4% of Matthews International Capital Management LLC's investment portfolio, making the stock its 12th largest position. Matthews International Capital Management LLC owned 0.09% of Grab worth $16,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently bought and sold shares of the stock. Clarius Group LLC acquired a new position in Grab in the first quarter worth $52,000. Sowell Financial Services LLC acquired a new position in Grab in the first quarter worth $53,000. Janney Montgomery Scott LLC boosted its stake in Grab by 669.7% in the first quarter. Janney Montgomery Scott LLC now owns 92,638 shares of the company's stock worth $420,000 after purchasing an additional 80,602 shares in the last quarter. Elevation Point Wealth Partners LLC boosted its stake in Grab by 54.4% in the first quarter. Elevation Point Wealth Partners LLC now owns 85,578 shares of the company's stock worth $388,000 after purchasing an additional 30,139 shares in the last quarter. Finally, Polianta Ltd acquired a new position in Grab in the first quarter worth $1,166,000. 55.52% of the stock is currently owned by institutional investors.
Grab Trading Down 3.6%
Shares of GRAB traded down $0.17 during trading hours on Friday, hitting $4.49. 45,253,271 shares of the stock traded hands, compared to its average volume of 32,040,711. The company has a current ratio of 2.49, a quick ratio of 2.46 and a debt-to-equity ratio of 0.04. Grab Holdings Limited has a 1-year low of $2.98 and a 1-year high of $5.72. The firm has a market capitalization of $18.08 billion, a PE ratio of 224.61 and a beta of 0.84. The business has a fifty day moving average of $4.75 and a 200-day moving average of $4.70.
Analysts Set New Price Targets
A number of equities analysts have commented on GRAB shares. Barclays boosted their price objective on Grab from $5.50 to $6.50 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. CLSA raised Grab to a "moderate buy" rating in a research note on Wednesday, April 9th. JPMorgan Chase & Co. reduced their price objective on Grab from $5.60 to $5.30 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Benchmark reaffirmed a "buy" rating and set a $6.00 price target on shares of Grab in a research note on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $5.71.
Check Out Our Latest Analysis on GRAB
About Grab
(
Free Report)
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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