Intermede Investment Partners Ltd Sells 727,115 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Intermede Investment Partners Ltd lessened its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 23.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,420,540 shares of the company’s stock after selling 727,115 shares during the period. Intermede Investment Partners Ltd’s holdings in Grab were worth $11,425,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ lifted its holdings in Grab by 21.0% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 296,303 shares of the company’s stock worth $1,410,000 after purchasing an additional 51,400 shares during the last quarter. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Grab in the fourth quarter worth $585,000. Vestcor Inc boosted its holdings in shares of Grab by 16.6% during the 4th quarter. Vestcor Inc now owns 33,602 shares of the company’s stock worth $159,000 after buying an additional 4,776 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Grab by 939.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,543,015 shares of the company’s stock worth $35,603,000 after buying an additional 6,817,452 shares during the period. Finally, Avantax Advisory Services Inc. acquired a new position in Grab in the 4th quarter valued at $125,000. Institutional investors and hedge funds own 55.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GRAB shares. China Renaissance cut shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 price target for the company. in a report on Thursday, November 21st. Bank of America upgraded Grab from an “underperform” rating to a “neutral” rating and increased their target price for the company from $4.90 to $5.10 in a research note on Tuesday, January 7th. Benchmark reaffirmed a “buy” rating and issued a $6.00 price target on shares of Grab in a research report on Thursday, February 20th. JPMorgan Chase & Co. raised Grab from a “neutral” rating to an “overweight” rating and set a $5.60 price objective for the company in a research report on Friday, February 21st. Finally, HSBC upgraded shares of Grab from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $5.50 to $5.45 in a research note on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $5.62.

Grab Trading Down 2.1 %

Shares of Grab stock opened at $4.22 on Thursday. The firm has a market capitalization of $16.99 billion, a PE ratio of -211.00, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67. Grab Holdings Limited has a 52-week low of $2.98 and a 52-week high of $5.72. The company’s fifty day moving average price is $4.69 and its two-hundred day moving average price is $4.41.

Grab (NASDAQ:GRAB) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. The firm had revenue of $764.00 million for the quarter, compared to analysts’ expectations of $762.57 million. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. On average, analysts expect that Grab Holdings Limited will post 0.05 EPS for the current year.

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.