Lansforsakringar Fondforvaltning AB publ Lowers Position in Grab Holdings Limited $GRAB

Lansforsakringar Fondforvaltning AB publ lessened its position in Grab Holdings Limited (NASDAQ:GRAB) by 19.1% in the third quarter, HoldingsChannel reports. The firm owned 1,082,946 shares of the company’s stock after selling 256,355 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in Grab were worth $6,519,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AlphaCore Capital LLC purchased a new stake in shares of Grab in the 2nd quarter worth about $33,000. Prospera Financial Services Inc bought a new stake in shares of Grab in the 2nd quarter worth approximately $50,000. Savant Capital LLC purchased a new stake in shares of Grab in the 2nd quarter worth approximately $51,000. Orion Porfolio Solutions LLC bought a new position in Grab during the 2nd quarter valued at approximately $54,000. Finally, EverSource Wealth Advisors LLC raised its stake in Grab by 98.9% during the second quarter. EverSource Wealth Advisors LLC now owns 11,797 shares of the company’s stock valued at $59,000 after buying an additional 5,866 shares during the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GRAB. Benchmark reaffirmed a “buy” rating on shares of Grab in a research report on Thursday, February 12th. Sanford C. Bernstein restated an “outperform” rating and set a $5.80 price objective on shares of Grab in a research note on Monday, January 26th. Mizuho set a $7.00 target price on shares of Grab in a research note on Tuesday, November 4th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Grab in a report on Thursday, January 22nd. Finally, Barclays boosted their price objective on shares of Grab from $6.50 to $7.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Grab presently has an average rating of “Buy” and an average target price of $6.47.

Grab Stock Down 0.7%

Grab stock opened at $4.15 on Wednesday. The stock has a market cap of $16.71 billion, a PE ratio of 138.38, a price-to-earnings-growth ratio of 0.94 and a beta of 0.92. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.73 and a current ratio of 1.75. The stock has a fifty day moving average of $4.63 and a 200 day moving average of $5.23. Grab Holdings Limited has a one year low of $3.36 and a one year high of $6.62.

Grab (NASDAQ:GRAB) last announced its earnings results on Wednesday, February 11th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.03. The company had revenue of $906.00 million during the quarter, compared to analyst estimates of $942.08 million. Grab had a net margin of 7.92% and a return on equity of 4.09%. As a group, sell-side analysts predict that Grab Holdings Limited will post 0.05 EPS for the current year.

About Grab

Grab Holdings Inc is a Singapore-based technology company that operates a consumer-facing “super app” across Southeast Asia offering services spanning ride-hailing, food and package delivery, and digital payments. Its platform connects consumers, drivers, merchants and delivery partners through mobile applications and supports on-demand mobility (taxi and private car), last-mile logistics, and on-demand food delivery under brands such as GrabFood and GrabExpress. The company has also developed a merchant-facing ecosystem that supports ordering, payment acceptance and loyalty functions.

Beyond transportation and delivery, Grab has expanded into financial services through Grab Financial Group, which provides digital payments via GrabPay, consumer lending, insurance distribution and small-business financial solutions.