Atreides Management LP Sells 3,335,057 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Atreides Management LP decreased its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 33.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,677,707 shares of the company’s stock after selling 3,335,057 shares during the quarter. Atreides Management LP owned approximately 0.17% of Grab worth $25,375,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC lifted its holdings in Grab by 8.1% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 40,185 shares of the company’s stock valued at $143,000 after buying an additional 3,020 shares in the last quarter. Empowered Funds LLC lifted its holdings in Grab by 7.7% during the 3rd quarter. Empowered Funds LLC now owns 43,788 shares of the company’s stock valued at $166,000 after buying an additional 3,147 shares in the last quarter. Blue Trust Inc. lifted its holdings in Grab by 53.6% during the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after buying an additional 3,408 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in Grab by 37.0% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock valued at $50,000 after buying an additional 3,795 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in Grab by 0.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 776,458 shares of the company’s stock valued at $2,951,000 after buying an additional 3,941 shares in the last quarter. Institutional investors own 55.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Benchmark reissued a “buy” rating and set a $6.00 target price on shares of Grab in a research report on Tuesday, November 12th. Barclays raised their target price on shares of Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Evercore ISI raised their target price 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. Finally, China Renaissance downgraded shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 target price on the stock. in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Grab presently has a consensus rating of “Moderate Buy” and an average price target of $5.42.

Grab Stock Down 3.5 %

Shares of Grab stock opened at $5.00 on Monday. The firm’s 50 day moving average price is $4.25 and its 200-day moving average price is $3.74. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. Grab Holdings Limited has a 52-week low of $2.90 and a 52-week high of $5.72. The company has a market cap of $20.14 billion, a P/E ratio of -250.00 and a beta of 0.81.

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

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.