Grab Holdings Limited (NASDAQ:GRAB) Shares Sold by Polymer Capital Management HK LTD

Polymer Capital Management HK LTD lowered its position in shares of Grab Holdings Limited (NASDAQ:GRAB) by 68.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 283,750 shares of the company’s stock after selling 616,250 shares during the quarter. Polymer Capital Management HK LTD’s holdings in Grab were worth $1,078,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GRAB. Blue Trust Inc. increased its holdings in Grab by 53.6% in the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after purchasing an additional 3,408 shares in the last quarter. Sage Rhino Capital LLC purchased a new position in Grab in the 2nd quarter worth approximately $38,000. Traynor Capital Management Inc. acquired a new position in shares of Grab during the third quarter worth $41,000. Dorsey & Whitney Trust CO LLC boosted its stake in shares of Grab by 37.0% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock valued at $50,000 after purchasing an additional 3,795 shares during the period. Finally, Prospect Financial Services LLC acquired a new stake in Grab during the 2nd quarter valued at $53,000. 55.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GRAB shares. Bank of America cut shares of Grab from a “buy” rating to an “underperform” rating and set a $4.90 price objective for the company. in a research report on Friday, November 22nd. Evercore ISI upped their price target on shares of Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. upped their target price on shares of Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Benchmark reiterated a “buy” rating and issued a $6.00 price target on shares of Grab in a research note on Tuesday, November 12th. Finally, China Renaissance lowered Grab from a “buy” rating to a “hold” rating and set a $5.40 price target on the stock. in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $5.42.

Grab Stock Performance

Shares of GRAB stock opened at $5.29 on Wednesday. The business has a 50 day simple moving average of $4.31 and a 200 day simple moving average of $3.76. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67. The firm has a market capitalization of $21.30 billion, a price-to-earnings ratio of -264.50 and a beta of 0.90. Grab Holdings Limited has a 12-month low of $2.90 and a 12-month high of $5.72.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. The business had revenue of $716.00 million for the quarter, compared to analysts’ expectations of $705.40 million. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. During the same period in the previous year, the business earned ($0.02) earnings per share. On average, equities research analysts anticipate 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.