Sands Capital Management LLC Lowers Stock Holdings in Grab Holdings Limited $GRAB

Sands Capital Management LLC reduced its position in Grab Holdings Limited (NASDAQ:GRAB) by 33.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 12,490,985 shares of the company’s stock after selling 6,266,839 shares during the quarter. Sands Capital Management LLC’s holdings in Grab were worth $75,196,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Invesco Ltd. lifted its position in shares of Grab by 11.8% during the second quarter. Invesco Ltd. now owns 63,881,785 shares of the company’s stock worth $321,325,000 after purchasing an additional 6,767,182 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Grab by 20.8% in the second quarter. JPMorgan Chase & Co. now owns 60,455,589 shares of the company’s stock valued at $304,092,000 after purchasing an additional 10,428,014 shares in the last quarter. State Street Corp grew its holdings in shares of Grab by 1.8% in the second quarter. State Street Corp now owns 43,322,397 shares of the company’s stock valued at $217,912,000 after purchasing an additional 759,696 shares in the last quarter. Artisan Partners Limited Partnership increased its stake in Grab by 13.4% during the 2nd quarter. Artisan Partners Limited Partnership now owns 39,845,418 shares of the company’s stock worth $200,422,000 after buying an additional 4,710,420 shares during the period. Finally, Norges Bank acquired a new stake in Grab during the 2nd quarter worth approximately $175,192,000. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Sanford C. Bernstein reissued an “outperform” rating and issued a $5.80 price target on shares of Grab in a research report on Monday, January 26th. Barclays upped their price objective on Grab from $6.50 to $7.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. HSBC upgraded Grab from a “hold” rating to a “buy” rating and set a $6.20 price objective on the stock in a research note on Friday, January 16th. Weiss Ratings reissued a “hold (c-)” rating on shares of Grab in a research note on Thursday, January 22nd. Finally, Benchmark restated a “buy” rating on shares of Grab in a report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Grab presently has a consensus rating of “Buy” and a consensus target price of $6.47.

Grab Stock Down 2.3%

Shares of Grab stock opened at $3.87 on Wednesday. Grab Holdings Limited has a 52-week low of $3.36 and a 52-week high of $6.62. The company has a 50 day moving average of $4.43 and a 200 day moving average of $5.16. The company has a quick ratio of 1.73, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $15.58 billion, a P/E ratio of 129.04, a P/E/G ratio of 0.89 and a beta of 0.93.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.01 by $0.03. Grab had a net margin of 7.92% and a return on equity of 4.09%. The company had revenue of $906.00 million during the quarter, compared to analysts’ expectations of $942.08 million. As a group, research analysts forecast that Grab Holdings Limited will post 0.05 EPS for the current fiscal year.

Grab Profile

Grab Holdings Inc is a Singapore-based technology company that operates a consumer-facing “super app” across Southeast Asia offering services spanning ride-hailing, food and package delivery, and digital payments. Its platform connects consumers, drivers, merchants and delivery partners through mobile applications and supports on-demand mobility (taxi and private car), last-mile logistics, and on-demand food delivery under brands such as GrabFood and GrabExpress. The company has also developed a merchant-facing ecosystem that supports ordering, payment acceptance and loyalty functions.

Beyond transportation and delivery, Grab has expanded into financial services through Grab Financial Group, which provides digital payments via GrabPay, consumer lending, insurance distribution and small-business financial solutions.