Penserra Capital Management LLC Trims Stock Position in Grab Holdings Limited (NASDAQ:GRAB)

Penserra Capital Management LLC decreased its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 7.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,084,256 shares of the company’s stock after selling 89,386 shares during the quarter. Penserra Capital Management LLC’s holdings in Grab were worth $4,120,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Grab by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 7,505,636 shares of the company’s stock worth $23,568,000 after acquiring an additional 166,063 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Grab by 14.7% during the first quarter. Acadian Asset Management LLC now owns 70,088 shares of the company’s stock valued at $219,000 after purchasing an additional 8,970 shares during the period. Advisors Asset Management Inc. increased its position in Grab by 32.2% in the first quarter. Advisors Asset Management Inc. now owns 29,739 shares of the company’s stock worth $93,000 after buying an additional 7,239 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Grab by 20.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 364,983 shares of the company’s stock worth $1,147,000 after buying an additional 61,183 shares in the last quarter. Finally, California State Teachers Retirement System raised its stake in shares of Grab by 5.3% in the first quarter. California State Teachers Retirement System now owns 2,449,429 shares of the company’s stock worth $7,691,000 after buying an additional 122,890 shares during the period. 55.52% of the stock is currently owned by institutional investors.

Grab Stock Performance

NASDAQ GRAB opened at $5.07 on Monday. 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 1-year low of $2.90 and a 1-year high of $5.72. The business has a 50 day simple moving average of $4.09 and a two-hundred day simple moving average of $3.68. The stock has a market capitalization of $20.42 billion, a PE ratio of -253.50 and a beta of 0.81.

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

Analyst Upgrades and Downgrades

GRAB has been the subject of a number of recent research reports. Mizuho boosted their price objective on Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. upped their price target on shares of Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Daiwa Capital Markets began coverage on shares of Grab in a research report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price objective on the stock. Benchmark reaffirmed a “buy” rating and issued a $6.00 target price on shares of Grab in a report on Tuesday, November 12th. Finally, Bank of America cut Grab from a “buy” rating to an “underperform” rating and set a $4.90 price target on the stock. in a report on Friday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $5.42.

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.