Congress Wealth Management LLC DE Sells 6,468 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Congress Wealth Management LLC DE decreased its position in shares of Grab Holdings Limited (NASDAQ:GRAB) by 5.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 105,033 shares of the company’s stock after selling 6,468 shares during the period. Congress Wealth Management LLC DE’s holdings in Grab were worth $496,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP grew its stake in shares of Grab by 13.4% in the third quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock valued at $472,394,000 after acquiring an additional 14,671,388 shares in the last quarter. Hanwha Asset Management Co. Ltd. bought a new stake in Grab in the 4th quarter valued at about $227,718,000. Baillie Gifford & Co. grew its position in shares of Grab by 10.0% during the 4th quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company’s stock worth $221,942,000 after purchasing an additional 4,259,537 shares in the last quarter. Perpetual Ltd bought a new position in shares of Grab during the fourth quarter worth approximately $213,177,000. Finally, State Street Corp raised its position in shares of Grab by 2.3% in the third quarter. State Street Corp now owns 43,570,388 shares of the company’s stock valued at $165,567,000 after buying an additional 967,233 shares in the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Trading Down 4.8 %

GRAB opened at $4.57 on Friday. The company’s 50 day moving average is $4.68 and its 200-day moving average is $4.51. The company has a market cap of $18.40 billion, a P/E ratio of -228.50, a PEG ratio of 2.26 and a beta of 0.88. Grab Holdings Limited has a 1-year low of $2.98 and a 1-year high of $5.72. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04.

Grab (NASDAQ:GRAB) last posted its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. The firm had revenue of $764.00 million for the quarter, compared to analysts’ expectations of $762.57 million. Equities research analysts predict that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GRAB. Bank of America raised Grab from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $4.90 to $5.10 in a research report on Tuesday, January 7th. JPMorgan Chase & Co. raised Grab from a “neutral” rating to an “overweight” rating and set a $5.60 target price on the stock in a report on Friday, February 21st. Citigroup reaffirmed a “buy” rating on shares of Grab in a research note on Tuesday, February 4th. Hsbc Global Res upgraded shares of Grab from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Finally, Benchmark restated a “buy” rating and issued a $6.00 target price on shares of Grab in a research report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Grab currently has a consensus rating of “Moderate Buy” and an average price target of $5.62.

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.