Wellington Management Group LLP Trims Stock Position in Grab Holdings Limited (NASDAQ:GRAB)

Wellington Management Group LLP trimmed its stake in Grab Holdings Limited (NASDAQ:GRAB) by 45.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,533,320 shares of the company’s stock after selling 56,780,966 shares during the period. Wellington Management Group LLP owned approximately 1.68% of Grab worth $318,757,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GRAB. Charles Schwab Investment Management Inc. lifted its stake in Grab by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,429,899 shares of the company’s stock valued at $5,434,000 after buying an additional 48,596 shares during the last quarter. Glenmede Trust Co. NA acquired a new position in shares of Grab in the 3rd quarter valued at $53,000. Public Sector Pension Investment Board raised its position in Grab by 24.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 1,095,005 shares of the company’s stock valued at $4,161,000 after purchasing an additional 211,800 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Grab by 179.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,462,483 shares of the company’s stock worth $47,357,000 after purchasing an additional 8,004,912 shares during the period. Finally, Erste Asset Management GmbH purchased a new position in Grab during the 3rd quarter worth $962,000. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Grab Stock Up 0.4 %

Shares of NASDAQ GRAB opened at $4.55 on Wednesday. The stock has a market capitalization of $18.32 billion, a price-to-earnings ratio of -227.50, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88. Grab Holdings Limited has a 52 week low of $2.98 and a 52 week high of $5.72. The firm has a 50-day moving average price of $4.68 and a 200 day moving average price of $4.54. 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 Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. The company had revenue of $764.00 million during the quarter, compared to the consensus estimate of $762.57 million. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. Equities research analysts anticipate that Grab Holdings Limited will post 0.05 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Barclays upped their target price on shares of Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a report on Thursday, February 20th. Hsbc Global Res raised Grab from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Citigroup reissued a “buy” rating on shares of Grab in a report on Tuesday, February 4th. JPMorgan Chase & Co. upgraded Grab from a “neutral” rating to an “overweight” rating and set a $5.60 price target for the company in a research note on Friday, February 21st. Finally, Benchmark reiterated a “buy” rating and issued a $6.00 price objective on shares of Grab in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Grab currently has an average rating of “Moderate Buy” and an average target price of $5.62.

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.