Grab Holdings Limited (NASDAQ:GRAB) Shares Sold by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. lowered its stake in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 43.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 179,976 shares of the company's stock after selling 139,858 shares during the period. Thornburg Investment Management Inc.'s holdings in Grab were worth $815,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Garde Capital Inc. purchased a new position in Grab in the 1st quarter valued at approximately $29,000. Allianz SE purchased a new position in Grab in the 4th quarter valued at approximately $44,000. J2 Capital Management Inc purchased a new position in Grab in the 1st quarter valued at approximately $45,000. Proficio Capital Partners LLC bought a new position in Grab in the 1st quarter valued at $45,000. Finally, SevenBridge Financial Group LLC bought a new position in Grab in the 4th quarter valued at $48,000. Hedge funds and other institutional investors own 55.52% of the company's stock.

Grab Price Performance

Shares of NASDAQ:GRAB traded down $0.09 on Friday, reaching $4.80. The company's stock had a trading volume of 39,605,344 shares, compared to its average volume of 37,180,781. The company has a 50-day simple moving average of $4.96 and a 200 day simple moving average of $4.73. The company has a market cap of $19.33 billion, a P/E ratio of 240.12 and a beta of 0.84. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.46 and a current ratio of 2.49. Grab Holdings Limited has a 52-week low of $2.98 and a 52-week high of $5.72.

Analysts Set New Price Targets

Several research analysts have commented on GRAB shares. JPMorgan Chase & Co. cut 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. CLSA raised shares of Grab to a "moderate buy" rating in a report on Wednesday, April 9th. Two 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 company. According to data from MarketBeat.com, Grab currently has a consensus rating of "Moderate Buy" and an average target price of $5.82.

Grab Company 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.