Lansforsakringar Fondforvaltning AB publ Reduces Stock Holdings in Grab Holdings Limited $GRAB

Lansforsakringar Fondforvaltning AB publ reduced its position in Grab Holdings Limited (NASDAQ:GRAB) by 19.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,082,946 shares of the company’s stock after selling 256,355 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Grab were worth $6,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. AlphaCore Capital LLC purchased a new stake in Grab during the second quarter valued at about $33,000. Prospera Financial Services Inc bought a new position in Grab in the 2nd quarter worth approximately $50,000. Savant Capital LLC bought a new stake in Grab during the 2nd quarter valued at $51,000. Orion Porfolio Solutions LLC purchased a new stake in shares of Grab during the second quarter worth $54,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Grab by 98.9% in the second quarter. EverSource Wealth Advisors LLC now owns 11,797 shares of the company’s stock valued at $59,000 after purchasing an additional 5,866 shares in the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Grab Stock Performance

NASDAQ GRAB opened at $4.15 on Wednesday. The company has a 50-day simple moving average of $4.63 and a two-hundred day simple moving average of $5.23. Grab Holdings Limited has a 12-month low of $3.36 and a 12-month high of $6.62. The firm has a market cap of $16.71 billion, a price-to-earnings ratio of 138.38, a PEG ratio of 0.94 and a beta of 0.92. The company has a quick ratio of 1.73, a current ratio of 1.75 and a debt-to-equity ratio of 0.06.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.03. Grab had a return on equity of 4.09% and a net margin of 7.92%.The firm had revenue of $906.00 million during the quarter, compared to the consensus estimate of $942.08 million. On average, equities analysts forecast that Grab Holdings Limited will post 0.05 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GRAB shares. HSBC raised shares of Grab from a “hold” rating to a “buy” rating and set a $6.20 price target on the stock in a report on Friday, January 16th. Jefferies Financial Group restated a “buy” rating and set a $7.00 target price on shares of Grab in a research report on Tuesday, November 4th. Barclays raised their price target on Grab from $6.50 to $7.00 and gave the company an “overweight” rating in a report on Tuesday, November 11th. Sanford C. Bernstein reissued an “outperform” rating and set a $5.80 price objective on shares of Grab in a report on Monday, January 26th. Finally, Mizuho set a $7.00 target price on shares of Grab in a research note on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Grab presently has an average rating of “Buy” and an average target price of $6.47.

Grab Company Profile

Grab Holdings Inc is a Singapore-based technology company that operates a consumer-facing “super app” across Southeast Asia offering services spanning ride-hailing, food and package delivery, and digital payments. Its platform connects consumers, drivers, merchants and delivery partners through mobile applications and supports on-demand mobility (taxi and private car), last-mile logistics, and on-demand food delivery under brands such as GrabFood and GrabExpress. The company has also developed a merchant-facing ecosystem that supports ordering, payment acceptance and loyalty functions.

Beyond transportation and delivery, Grab has expanded into financial services through Grab Financial Group, which provides digital payments via GrabPay, consumer lending, insurance distribution and small-business financial solutions.