Coastal Investment Advisors Inc. Decreases Stake in Grab Holdings Limited (NASDAQ:GRAB)

Coastal Investment Advisors Inc. decreased its position in Grab Holdings Limited (NASDAQ:GRAB – Get Rating) by 40.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,750 shares of the company’s stock after selling 10,000 shares during the period. Coastal Investment Advisors Inc.’s holdings in Grab were worth $47,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Grab during the 1st quarter worth approximately $161,045,000. Capital Research Global Investors boosted its holdings in Grab by 50.9% in the 1st quarter. Capital Research Global Investors now owns 108,322,250 shares of the company’s stock worth $379,128,000 after buying an additional 36,542,740 shares during the period. State Street Corp purchased a new position in Grab in the 1st quarter valued at approximately $49,695,000. Artisan Partners Limited Partnership purchased a new position in Grab in the 4th quarter valued at approximately $38,594,000. Finally, E Fund Management Co. Ltd. grew its stake in Grab by 1,375.0% in the 3rd quarter. E Fund Management Co. Ltd. now owns 11,800,000 shares of the company’s stock valued at $31,034,000 after buying an additional 11,000,000 shares in the last quarter. Hedge funds and other institutional investors own 46.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GRAB shares. Macquarie started coverage on shares of Grab in a research note on Monday, March 13th. They issued an “outperform” rating and a $4.00 price objective for the company. HSBC lifted their price objective on shares of Grab from $4.03 to $4.20 in a research note on Friday, May 19th. Loop Capital reduced their price objective on shares of Grab from $5.00 to $4.00 in a research note on Wednesday, April 12th. Benchmark started coverage on shares of Grab in a research note on Thursday, April 20th. They issued a “buy” rating and a $4.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered shares of Grab from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $3.20 to $2.80 in a research note on Wednesday, February 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Grab currently has a consensus rating of “Moderate Buy” and a consensus price target of $3.87.

Grab Stock Down 1.6 %

Shares of NASDAQ:GRAB opened at $3.00 on Friday. Grab Holdings Limited has a 52-week low of $2.19 and a 52-week high of $4.03. The firm has a fifty day moving average of $2.98 and a 200 day moving average of $3.17. The firm has a market capitalization of $11.24 billion, a PE ratio of -7.69 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 5.34 and a current ratio of 5.39.

Grab (NASDAQ:GRAB – Get Rating) last announced its earnings results on Thursday, May 18th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. Grab had a negative net margin of 86.94% and a negative return on equity of 22.08%. The company had revenue of $525.00 million during the quarter, compared to analyst estimates of $505.00 million. During the same period in the previous year, the business earned ($0.11) earnings per share. The firm’s quarterly revenue was up 130.3% compared to the same quarter last year. As a group, research analysts anticipate that Grab Holdings Limited will post -0.17 EPS for the current fiscal year.

About Grab

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Grab Holdings Limited provides superapps that allows access to mobility, delivery, financial services, and enterprise offerings through its mobile application in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The company is headquartered in Singapore.