Grab Holdings Limited (NASDAQ:GRAB) Position Lessened by Raiffeisen Bank International AG

Key Points

• Raiffeisen Bank International AG has reduced its stake in Grab Holdings Limited by 47.6%, now holding 68,600 shares worth $314,000.
• Significant institutional investments in Grab include a new position by Uber Technologies Inc valued at over $2.5 billion and Toyota Motor Corp with investments exceeding $1 billion in the fourth quarter.
• Analysts currently rate Grab with a consensus target price of $5.82, with JPMorgan recently lowering its rating target price to $5.30 but maintaining an "overweight" stance.

Raiffeisen Bank International AG reduced its holdings in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 47.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,600 shares of the company's stock after selling 62,300 shares during the quarter. Raiffeisen Bank International AG's holdings in Grab were worth $314,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Garde Capital Inc. bought a new position in Grab during the 1st quarter valued at $29,000. J2 Capital Management Inc bought a new position in Grab during the 1st quarter valued at $45,000. Proficio Capital Partners LLC bought a new position in Grab during the 1st quarter valued at $45,000. Intelligence Driven Advisers LLC bought a new position in Grab during the 1st quarter valued at $48,000. Finally, Perigon Wealth Management LLC bought a new position in Grab during the 1st quarter valued at $48,000. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Grab Price Performance

Shares of GRAB traded down $0.07 during trading hours on Friday, hitting $4.88. 21,945,039 shares of the company were exchanged, compared to its average volume of 40,152,480. The company has a market capitalization of $19.65 billion, a PE ratio of 123.75 and a beta of 0.84. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.88 and a quick ratio of 1.87. The firm has a fifty day simple moving average of $4.95 and a 200-day simple moving average of $4.74. Grab Holdings Limited has a one year low of $3.08 and a one year high of $5.72.

Grab (NASDAQ:GRAB - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $819.00 million during 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%. As a group, sell-side analysts predict 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.