Grab Holdings Limited (NASDAQ:GRAB) Shares Sold by Prudential PLC

Key Points

• Prudential PLC has reduced its stake in Grab Holdings Limited by 20.8%, now owning 13,013,812 shares valued at approximately $58.95 million.
• Multiple institutional investors have adjusted their holdings in Grab, with notable increases including a 6.0% stake from Sequoia Financial Advisors LLC and a 26.2% boost from Baldwin Wealth Partners.
• JPMorgan Chase & Co. has decreased its price target on Grab shares from $5.60 to $5.30 while maintaining an "overweight" rating, with a consensus target price of $5.82 from analysts.

Prudential PLC reduced its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 20.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,013,812 shares of the company's stock after selling 3,417,798 shares during the quarter. Grab makes up 0.3% of Prudential PLC's investment portfolio, making the stock its 25th largest position. Prudential PLC owned approximately 0.32% of Grab worth $58,953,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in GRAB. Uber Technologies Inc purchased a new position in Grab during the 4th quarter valued at about $2,529,462,000. Toyota Motor Corp purchased a new stake in shares of Grab during the fourth quarter worth about $1,052,117,000. BNP Paribas Financial Markets purchased a new stake in shares of Grab during the fourth quarter worth about $137,561,000. D. E. Shaw & Co. Inc. grew its holdings in shares of Grab by 176,919.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 19,891,669 shares of the company's stock worth $93,889,000 after buying an additional 19,880,432 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Grab by 111.4% during the first quarter. Assenagon Asset Management S.A. now owns 35,829,032 shares of the company's stock worth $162,306,000 after buying an additional 18,882,118 shares in the last quarter. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Grab Trading Up 2.6%

Shares of GRAB traded up $0.13 during mid-day trading on Wednesday, hitting $5.12. The company had a trading volume of 34,600,110 shares, compared to its average volume of 38,392,984. The business's 50-day simple moving average is $4.95 and its 200-day simple moving average is $4.75. The company has a quick ratio of 1.87, a current ratio of 1.88 and a debt-to-equity ratio of 0.04. Grab Holdings Limited has a 1-year low of $3.08 and a 1-year high of $5.72. The stock has a market cap of $20.62 billion, a PE ratio of 128.03 and a beta of 0.84.

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

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lowered their price target 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. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average 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.