Thornburg Investment Management Inc. Decreases Stock Position in Grab Holdings Limited (NASDAQ:GRAB)

Thornburg Investment Management Inc. decreased its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 43.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 179,976 shares of the company’s stock after selling 139,858 shares during the quarter. Thornburg Investment Management Inc.’s holdings in Grab were worth $815,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in Grab in the fourth quarter valued at $1,165,000. HighTower Advisors LLC raised its position in Grab by 28.3% in the fourth quarter. HighTower Advisors LLC now owns 40,484 shares of the company’s stock valued at $191,000 after purchasing an additional 8,938 shares during the period. Commonwealth Equity Services LLC raised its position in Grab by 221.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 39,478 shares of the company’s stock valued at $186,000 after purchasing an additional 27,184 shares during the period. American Century Companies Inc. raised its position in Grab by 37.3% in the fourth quarter. American Century Companies Inc. now owns 244,761 shares of the company’s stock valued at $1,155,000 after purchasing an additional 66,534 shares during the period. Finally, LPL Financial LLC raised its position in Grab by 221.0% in the fourth quarter. LPL Financial LLC now owns 118,439 shares of the company’s stock valued at $559,000 after purchasing an additional 81,543 shares during the period. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on GRAB shares. JPMorgan Chase & Co. reduced their target price on Grab from $5.60 to $5.30 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. CLSA upgraded Grab to a “moderate buy” rating in a research report on Wednesday, April 9th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Grab currently has an average rating of “Moderate Buy” and an average price target of $5.82.

Grab Trading Up 0.6%

Shares of NASDAQ GRAB opened at $5.31 on Wednesday. Grab Holdings Limited has a twelve month low of $2.98 and a twelve month high of $5.72. The company has a current ratio of 2.49, a quick ratio of 2.46 and a debt-to-equity ratio of 0.04. The stock has a fifty day simple moving average of $4.95 and a 200-day simple moving average of $4.72. The stock has a market capitalization of $21.38 billion, a PE ratio of 265.63 and a beta of 0.84.

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.