KBC Group NV Sells 119,206 Shares of Grab Holdings Limited (NASDAQ:GRAB)

KBC Group NV lowered its stake in Grab Holdings Limited (NASDAQ:GRAB) by 9.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,083,964 shares of the company’s stock after selling 119,206 shares during the quarter. KBC Group NV’s holdings in Grab were worth $5,117,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in GRAB. Perpetual Ltd bought a new stake in Grab during the 4th quarter valued at $213,177,000. Wellington Management Group LLP increased its position in shares of Grab by 13.4% in the third quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock valued at $472,394,000 after acquiring an additional 14,671,388 shares during the period. Tree Line Advisors Hong Kong Ltd. bought a new position in shares of Grab during the third quarter valued at about $38,000,000. Assenagon Asset Management S.A. boosted its holdings in shares of Grab by 109.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 16,946,914 shares of the company’s stock worth $79,989,000 after purchasing an additional 8,868,071 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Grab by 179.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,462,483 shares of the company’s stock worth $47,357,000 after purchasing an additional 8,004,912 shares during the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on GRAB. Daiwa Capital Markets assumed coverage on Grab in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price objective for the company. China Renaissance lowered Grab from a “buy” rating to a “hold” rating and set a $5.40 price target for the company. in a research note on Thursday, November 21st. Barclays lifted their price target on shares of Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a report on Wednesday, November 13th. HSBC cut shares of Grab from a “buy” rating to a “hold” rating and raised their target price for the stock from $4.25 to $5.50 in a research report on Thursday, December 5th. Finally, Evercore ISI boosted their price target on shares of Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.55.

Grab Price Performance

GRAB stock opened at $4.64 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. The firm has a 50 day moving average price of $4.87 and a 200-day moving average price of $4.11. Grab Holdings Limited has a 52-week low of $2.98 and a 52-week high of $5.72. The firm has a market capitalization of $18.69 billion, a price-to-earnings ratio of -232.00, a PEG ratio of 1.84 and a beta of 0.90.

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