Grab Holdings Limited (NASDAQ:GRAB) Shares Sold by Dover Advisors LLC

Dover Advisors LLC cut its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 31.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 14,000 shares of the company’s stock after selling 6,328 shares during the quarter. Dover Advisors LLC’s holdings in Grab were worth $53,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new stake in Grab during the 4th quarter valued at $191,000. Goldman Sachs Group Inc. increased its position in Grab by 1.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 7,648,194 shares of the company’s stock worth $25,774,000 after purchasing an additional 126,365 shares in the last quarter. Wellington Management Group LLP raised its stake in Grab by 21,347.2% in the 4th quarter. Wellington Management Group LLP now owns 6,724,121 shares of the company’s stock valued at $22,660,000 after purchasing an additional 6,692,769 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Grab in the 4th quarter valued at about $47,000. Finally, Leo Wealth LLC purchased a new stake in shares of Grab during the fourth quarter worth about $61,000. 55.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the stock. Benchmark reaffirmed a “buy” rating and issued a $6.00 target price on shares of Grab in a research note on Wednesday, September 11th. Jefferies Financial Group reduced their target price on Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Finally, Mizuho assumed coverage on Grab in a report on Thursday, June 27th. They issued an “outperform” rating and a $5.00 price objective on the stock. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $4.71.

Grab Stock Down 0.6 %

GRAB traded down $0.02 during trading on Tuesday, hitting $3.61. The company had a trading volume of 32,692,742 shares, compared to its average volume of 23,057,195. The company has a market cap of $14.16 billion, a PE ratio of -51.57 and a beta of 0.83. 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 Holdings Limited has a 1-year low of $2.90 and a 1-year high of $3.88. The business has a 50-day moving average of $3.46 and a 200-day moving average of $3.48.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Thursday, August 15th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). The company had revenue of $664.00 million for the quarter, compared to the consensus estimate of $674.17 million. Grab had a negative net margin of 8.24% and a negative return on equity of 3.35%. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period last year, the firm posted ($0.03) EPS. As a group, analysts forecast that Grab Holdings Limited will post -0.04 earnings per share 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.