KBC Group NV Sells 119,206 Shares of Grab Holdings Limited (NASDAQ:GRAB)

KBC Group NV reduced its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 9.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,083,964 shares of the company’s stock after selling 119,206 shares during the quarter. KBC Group NV’s holdings in Grab were worth $5,117,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of GRAB. Dimensional Fund Advisors LP lifted its stake in Grab by 168.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 221,135 shares of the company’s stock valued at $785,000 after acquiring an additional 138,620 shares during the period. Algert Global LLC bought a new position in Grab during the second quarter valued at approximately $314,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Grab in the second quarter worth approximately $73,000. Miracle Mile Advisors LLC grew its position in Grab by 193.9% in the 3rd quarter. Miracle Mile Advisors LLC now owns 30,317 shares of the company’s stock worth $115,000 after purchasing an additional 20,000 shares during the period. Finally, Affinity Wealth Management LLC purchased a new stake in Grab during the 3rd quarter valued at $3,798,000. 55.52% of the stock is owned by hedge funds and other institutional investors.

Grab Price Performance

NASDAQ:GRAB opened at $4.64 on Friday. The business’s 50-day simple moving average is $4.87 and its two-hundred day simple moving average is $4.11. Grab Holdings Limited has a 52 week low of $2.98 and a 52 week high of $5.72. The stock has a market cap of $18.69 billion, a PE ratio of -232.00, a P/E/G ratio of 1.84 and a beta of 0.90. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Monday, November 11th. The company reported $0.01 EPS for the quarter. The company had revenue of $716.00 million for the quarter, compared to analysts’ expectations of $705.40 million. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. During the same period in the previous year, the firm earned ($0.02) EPS. As a group, analysts forecast that Grab Holdings Limited will post -0.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on GRAB shares. JPMorgan Chase & Co. lifted their price objective on Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Benchmark reaffirmed a “buy” rating and set a $6.00 price target on shares of Grab in a research report on Tuesday, November 12th. Barclays raised their price objective on shares of Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Daiwa Capital Markets began coverage on shares of Grab in a report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 target price for the company. Finally, Bank of America upgraded shares of Grab from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $4.90 to $5.10 in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.55.

About Grab

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.