Grab Holdings Limited (NASDAQ:GRAB) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC trimmed its holdings in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 32.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,965,295 shares of the company's stock after selling 14,565,018 shares during the quarter. Nuveen Asset Management LLC owned 0.77% of Grab worth $146,156,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in GRAB. Assenagon Asset Management S.A. boosted its stake in shares of Grab by 109.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 16,946,914 shares of the company's stock worth $79,989,000 after acquiring an additional 8,868,071 shares in the last quarter. Perpetual Ltd acquired a new position in shares of Grab during the 4th quarter worth about $213,177,000. Traynor Capital Management Inc. raised its position in shares of Grab by 47.7% during the 4th quarter. Traynor Capital Management Inc. now owns 15,800 shares of the company's stock worth $75,000 after purchasing an additional 5,100 shares during the last quarter. Mutual Advisors LLC acquired a new position in shares of Grab during the 4th quarter worth about $115,000. Finally, Affinity Wealth Management LLC raised its position in shares of Grab by 4.1% during the 4th quarter. Affinity Wealth Management LLC now owns 1,040,009 shares of the company's stock worth $4,909,000 after purchasing an additional 40,533 shares during the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on GRAB. 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 reiterated a "buy" rating and issued a $6.00 price objective on shares of Grab in a report on Thursday, February 20th. JPMorgan Chase & Co. cut their price objective 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 upgraded shares of Grab to a "moderate buy" rating in a report on Wednesday, April 9th. Finally, HSBC upgraded shares of Grab from a "hold" rating to a "buy" rating and cut their price target for the stock from $5.50 to $5.45 in a report on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $5.71.

Grab Stock Down 0.2%

GRAB stock traded down $0.01 during midday trading on Monday, hitting $5.08. The company's stock had a trading volume of 23,536,987 shares, compared to its average volume of 30,636,134. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. Grab Holdings Limited has a 52-week low of $2.98 and a 52-week high of $5.72. The firm has a market capitalization of $20.46 billion, a P/E ratio of -254.00, a PEG ratio of 2.26 and a beta of 0.86. The firm has a 50-day simple moving average of $4.49 and a 200-day simple moving average of $4.70.

Grab (NASDAQ:GRAB - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. The company had revenue of $764.00 million during the quarter, compared to analysts' expectations of $762.57 million. As a group, equities analysts forecast that Grab Holdings Limited will post 0.05 EPS for the current 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.