Mirae Asset Global Investments Co. Ltd. Sells 1,075,974 Shares of Grab Holdings Limited $GRAB

Key Points

• Mirae Asset Global Investments Co. Ltd. significantly reduced its stake in Grab Holdings by selling 1,075,974 shares, resulting in ownership of only 25,635 shares worth approximately $129,000.
• Other institutional investors, including J2 Capital Management and Sowell Financial Services, have increased their positions in Grab, indicating mixed investor sentiment regarding the company's performance.
• Analysts have rated Grab Holdings with a "Moderate Buy" consensus and set a price target of $5.90, despite recent adjustments to ratings from firms like HSBC, which lowered expectations from "strong-buy" to "hold."

Mirae Asset Global Investments Co. Ltd. trimmed its holdings in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 97.7% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 25,635 shares of the company's stock after selling 1,075,974 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Grab were worth $129,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. J2 Capital Management Inc lifted its position in Grab by 21.5% during the second quarter. J2 Capital Management Inc now owns 12,189 shares of the company's stock valued at $61,000 after purchasing an additional 2,155 shares during the period. Sowell Financial Services LLC raised its stake in Grab by 18.8% during the 2nd quarter. Sowell Financial Services LLC now owns 13,953 shares of the company's stock valued at $70,000 after buying an additional 2,206 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in Grab by 6.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 45,934 shares of the company's stock valued at $208,000 after buying an additional 2,581 shares during the last quarter. Empowered Funds LLC raised its stake in Grab by 6.2% during the 1st quarter. Empowered Funds LLC now owns 52,698 shares of the company's stock valued at $239,000 after buying an additional 3,090 shares during the last quarter. Finally, Summit Securities Group LLC raised its stake in Grab by 63.6% during the 1st quarter. Summit Securities Group LLC now owns 8,229 shares of the company's stock valued at $37,000 after buying an additional 3,199 shares during the last quarter. Hedge funds and other institutional investors own 55.52% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on GRAB shares. HSBC reaffirmed a "hold" rating and issued a $6.20 price objective on shares of Grab in a report on Wednesday, September 17th. Hsbc Global Res cut Grab from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, September 17th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Grab in a research note on Wednesday. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Grab presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.90.

Grab Price Performance

GRAB stock opened at $5.86 on Friday. Grab Holdings Limited has a one year low of $3.36 and a one year high of $6.62. The company's fifty day moving average price is $5.53 and its 200-day moving average price is $5.02. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.87 and a current ratio of 1.88. The company has a market capitalization of $23.60 billion, a PE ratio of 146.54 and a beta of 0.88.

Grab (NASDAQ:GRAB - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.01. The company had revenue of $819.00 million for the quarter, compared to the consensus estimate of $809.41 million. Grab had a net margin of 3.65% and a return on equity of 1.75%. Grab has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Grab Holdings Limited will post 0.05 EPS for the current fiscal 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.

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