J. Goldman & Co LP Sells 1,263,000 Shares of Grab Holdings Limited (NASDAQ:GRAB)

J. Goldman & Co LP lowered its stake in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 68.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 571,500 shares of the company's stock after selling 1,263,000 shares during the period. J. Goldman & Co LP's holdings in Grab were worth $2,697,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Uber Technologies Inc bought a new stake in shares of Grab during the 4th quarter worth approximately $2,529,462,000. Hanwha Asset Management Co. Ltd. acquired a new stake in Grab in the fourth quarter valued at approximately $227,718,000. Perpetual Ltd acquired a new stake in Grab in the fourth quarter valued at approximately $213,177,000. Arrowstreet Capital Limited Partnership boosted its position in Grab by 5,066.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 33,914,101 shares of the company's stock valued at $160,075,000 after buying an additional 33,257,610 shares in the last quarter. Finally, Norges Bank acquired a new stake in Grab in the fourth quarter valued at approximately $145,927,000. Institutional investors and hedge funds own 55.52% of the company's stock.

Wall Street Analyst Weigh In

GRAB has been the topic of a number of research analyst reports. Hsbc Global Res upgraded shares of Grab from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 4th. Benchmark reaffirmed a "buy" rating and set a $6.00 price target on shares of Grab in a research note on Thursday, February 20th. JPMorgan Chase & Co. lowered their target price on shares of Grab from $5.60 to $5.30 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Barclays lifted their target price on shares of Grab from $5.50 to $6.50 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Finally, CLSA upgraded shares of Grab to a "moderate buy" rating in a report on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $5.60.

Grab Stock Down 3.6%

Shares of NASDAQ GRAB traded down $0.19 during mid-day trading on Thursday, reaching $5.06. 36,187,004 shares of the company's stock traded hands, compared to its average volume of 30,773,018. Grab Holdings Limited has a 1-year low of $2.98 and a 1-year high of $5.72. The stock has a market cap of $20.38 billion, a P/E ratio of -253.00, a PEG ratio of 2.26 and a beta of 0.86. The business has a 50-day simple moving average of $4.46 and a 200 day simple moving average of $4.68. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67.

Grab (NASDAQ:GRAB - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $764.00 million for the quarter, compared to analysts' expectations of $762.57 million. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. On average, analysts expect that Grab Holdings Limited will post 0.05 EPS for the current fiscal year.

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.