DekaBank Deutsche Girozentrale Sells 51,240 Shares of Grab Holdings Limited (NASDAQ:GRAB)

DekaBank Deutsche Girozentrale decreased its position in Grab Holdings Limited (NASDAQ:GRAB) by 15.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 274,058 shares of the company’s stock after selling 51,240 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Grab were worth $1,073,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GRAB. Baillie Gifford & Co. bought a new position in shares of Grab in the second quarter valued at approximately $166,587,000. Coronation Fund Managers Ltd. increased its position in Grab by 116.3% during the first quarter. Coronation Fund Managers Ltd. now owns 35,042,039 shares of the company’s stock worth $110,032,000 after acquiring an additional 18,839,407 shares during the period. Point72 Asset Management L.P. bought a new position in Grab during the second quarter worth $57,696,000. Marshall Wace LLP increased its position in Grab by 39.7% during the second 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. Finally, Assenagon Asset Management S.A. increased its position in Grab by 129.4% during the third quarter. Assenagon Asset Management S.A. now owns 8,078,843 shares of the company’s stock worth $30,700,000 after acquiring an additional 4,557,800 shares during the period. Institutional investors own 55.52% of the company’s stock.

Grab Price Performance

Shares of GRAB stock opened at $4.07 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.00 and a quick ratio of 2.97. The stock’s fifty day simple moving average is $3.66 and its 200 day simple moving average is $3.54. Grab Holdings Limited has a one year low of $2.90 and a one year high of $4.32. The firm has a market cap of $15.97 billion, a price-to-earnings ratio of -81.40 and a beta of 0.83.

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

Wall Street Analyst Weigh In

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

Grab 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.