Thornburg Investment Management Inc. Lowers Stake in Grab Holdings Limited (NASDAQ:GRAB)

Thornburg Investment Management Inc. cut its position in Grab Holdings Limited (NASDAQ:GRAB) by 4.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 199,527 shares of the company’s stock after selling 9,686 shares during the period. Thornburg Investment Management Inc.’s holdings in Grab were worth $644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Grab by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 7,326,876 shares of the company’s stock worth $25,937,000 after buying an additional 126,221 shares in the last quarter. Nordea Investment Management AB raised its stake in Grab by 13.6% during the 4th quarter. Nordea Investment Management AB now owns 139,798 shares of the company’s stock valued at $474,000 after purchasing an additional 16,746 shares during the period. SG Americas Securities LLC lifted its holdings in Grab by 74.8% in the 4th quarter. SG Americas Securities LLC now owns 2,131,494 shares of the company’s stock worth $7,183,000 after purchasing an additional 912,271 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Grab by 59.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 136,064 shares of the company’s stock worth $459,000 after purchasing an additional 50,749 shares during the period. Finally, Deltec Asset Management LLC grew its holdings in Grab by 58.1% during the 4th quarter. Deltec Asset Management LLC now owns 245,000 shares of the company’s stock valued at $826,000 after buying an additional 90,000 shares in the last quarter. 55.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GRAB. Mizuho initiated coverage on shares of Grab in a research note on Thursday, June 27th. They set an “outperform” rating and a $5.00 target price for the company. Benchmark reaffirmed a “buy” rating and issued a $6.00 target price on shares of Grab in a report on Thursday, May 16th. HSBC reissued a “buy” rating and set a $4.30 price target on shares of Grab in a research note on Thursday, April 4th. Barclays lifted their price objective on Grab from $4.30 to $4.70 and gave the stock an “overweight” rating in a research note on Wednesday, May 22nd. Finally, Jefferies Financial Group cut their target price on shares of Grab from $5.00 to $4.70 and set a “buy” rating for the company in a report on Wednesday, July 17th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $5.02.

Grab Trading Down 0.6 %

NASDAQ:GRAB traded down $0.02 during midday trading on Wednesday, hitting $3.36. 21,299,533 shares of the company traded hands, compared to its average volume of 22,279,443. The firm has a market capitalization of $13.18 billion, a P/E ratio of -47.99 and a beta of 0.81. The firm’s fifty day moving average is $3.58 and its 200-day moving average is $3.38. Grab Holdings Limited has a 12-month low of $2.90 and a 12-month high of $3.92. The company has a current ratio of 3.26, a quick ratio of 3.22 and a debt-to-equity ratio of 0.03.

Grab (NASDAQ:GRAB) last announced its earnings results on Wednesday, May 15th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.02). Grab had a negative net margin of 11.86% and a negative return on equity of 4.62%. The firm had revenue of $653.00 million during the quarter, compared to analysts’ expectations of $662.48 million. On average, sell-side analysts predict that Grab Holdings Limited will post -0.03 EPS for the current year.

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.