Grab Holdings Limited (NASDAQ:GRAB) Shares Sold by Baillie Gifford & Co.

Baillie Gifford & Co. cut its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 8.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,762,172 shares of the company’s stock after selling 4,163,606 shares during the quarter. Baillie Gifford & Co. owned 1.09% of Grab worth $162,496,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of GRAB. Point72 Asset Management L.P. acquired a new position in shares of Grab during the 2nd quarter worth $57,696,000. Coronation Fund Managers Ltd. increased its holdings in Grab by 29.7% in the second quarter. Coronation Fund Managers Ltd. now owns 45,452,613 shares of the company’s stock valued at $161,357,000 after buying an additional 10,410,574 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Grab by 39.7% in the 2nd quarter. Marshall Wace LLP now owns 30,405,993 shares of the company’s stock worth $107,941,000 after acquiring an additional 8,635,310 shares during the period. Assenagon Asset Management S.A. increased its stake in Grab by 129.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,078,843 shares of the company’s stock valued at $30,700,000 after purchasing an additional 4,557,800 shares in the last quarter. Finally, Jupiter Asset Management Ltd. raised its holdings in Grab by 69.5% during the second quarter. Jupiter Asset Management Ltd. now owns 9,759,357 shares of the company’s stock worth $34,646,000 after purchasing an additional 4,000,600 shares during the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Grab Stock Performance

NASDAQ:GRAB opened at $4.38 on Tuesday. Grab Holdings Limited has a 1-year low of $2.90 and a 1-year high of $4.44. The firm has a 50 day simple moving average of $3.78 and a 200-day simple moving average of $3.58. The firm has a market cap of $17.18 billion, a PE ratio of -87.60 and a beta of 0.81. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.00 and a quick ratio of 2.97.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Thursday, August 15th. The company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). The company had revenue of $664.00 million for the quarter, compared to analyst estimates of $674.17 million. Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.03) EPS. On average, equities analysts expect that Grab Holdings Limited will post -0.04 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Jefferies Financial Group dropped their price target on Grab from $5.00 to $4.70 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Benchmark restated a “buy” rating and set a $6.00 target price on shares of Grab in a research report on Wednesday, September 11th. Finally, Daiwa Capital Markets started coverage on shares of Grab in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price objective for the company. Eight analysts have rated the stock with a buy rating, According to MarketBeat, Grab presently has an average rating of “Buy” and a consensus target price of $4.70.

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.