Wellington Management Group LLP Sells 21,529,574 Shares of Grab Holdings Limited $GRAB

Key Points

• Wellington Management Group LLP has reduced its stake in Grab Holdings by 31.9%, selling over 21 million shares to own approximately 46 million shares, valued at around $208 million.
• Other hedge funds, including Qtron Investments LLC and Northern Trust Corp, have increased their positions in Grab, indicating ongoing interest among institutional investors.
• Grab's stock is currently trading at $5.03, with a market capitalization of $20.26 billion, and the company reported a revenue of $819 million for the last quarter, matching analyst estimates.

Wellington Management Group LLP trimmed its position in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 31.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,003,746 shares of the company's stock after selling 21,529,574 shares during the quarter. Wellington Management Group LLP owned about 1.14% of Grab worth $208,397,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Qtron Investments LLC boosted its stake in Grab by 37.1% during the first quarter. Qtron Investments LLC now owns 107,292 shares of the company's stock valued at $486,000 after buying an additional 29,033 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Grab by 14.5% during the 1st quarter. Northern Trust Corp now owns 13,145,415 shares of the company's stock worth $59,549,000 after acquiring an additional 1,665,962 shares in the last quarter. Summit Securities Group LLC boosted its position in shares of 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 acquiring an additional 3,199 shares during the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of Grab by 17.0% in the first quarter. State of New Jersey Common Pension Fund D now owns 1,002,040 shares of the company's stock valued at $4,539,000 after purchasing an additional 145,900 shares in the last quarter. Finally, American Century Companies Inc. increased its position in Grab by 55.0% in the first quarter. American Century Companies Inc. now owns 379,397 shares of the company's stock worth $1,719,000 after purchasing an additional 134,636 shares during the last quarter. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Grab Price Performance

GRAB stock opened at $5.03 on Thursday. Grab Holdings Limited has a 52 week low of $3.17 and a 52 week high of $5.72. The firm has a market capitalization of $20.26 billion, a P/E ratio of 125.78 and a beta of 0.84. The company has a fifty day simple moving average of $4.97 and a two-hundred day simple moving average of $4.77. 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 (NASDAQ:GRAB - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.01 earnings per share for the quarter, hitting analysts' consensus estimates of $0.01. The firm 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. Analysts anticipate that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.