Millennium Management LLC Has $18.65 Million Stock Holdings in Grab Holdings Limited (NASDAQ:GRAB)

Millennium Management LLC decreased its stake in Grab Holdings Limited (NASDAQ:GRAB) by 57.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,253,332 shares of the company’s stock after selling 7,156,695 shares during the period. Millennium Management LLC’s holdings in Grab were worth $18,649,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. bought a new position in Grab in the 2nd quarter valued at approximately $166,587,000. Coronation Fund Managers Ltd. raised its stake in shares of Grab by 116.3% during the first quarter. Coronation Fund Managers Ltd. now owns 35,042,039 shares of the company’s stock valued at $110,032,000 after acquiring an additional 18,839,407 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Grab during the first quarter worth $52,920,000. Point72 Asset Management L.P. bought a new stake in shares of Grab in the second quarter worth $57,696,000. Finally, Marshall Wace LLP increased its holdings in Grab by 39.7% in the second quarter. Marshall Wace LLP now owns 30,405,993 shares of the company’s stock valued at $107,941,000 after purchasing an additional 8,635,310 shares during the period. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Stock Performance

NASDAQ:GRAB opened at $3.68 on Friday. The firm has a market capitalization of $14.44 billion, a P/E ratio of -52.57 and a beta of 0.83. Grab Holdings Limited has a twelve month low of $2.90 and a twelve month high of $3.88. The company has a fifty day moving average of $3.40 and a 200-day moving average of $3.45. The company has a quick ratio of 2.97, a current ratio of 3.00 and a debt-to-equity ratio of 0.03.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Thursday, August 15th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). Grab had a negative net margin of 8.24% and a negative return on equity of 3.35%. The company had revenue of $664.00 million for the quarter, compared to analysts’ expectations of $674.17 million. During the same quarter in the prior year, the firm earned ($0.03) EPS. The business’s revenue was up 17.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Grab Holdings Limited will post -0.01 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on GRAB. Benchmark reiterated a “buy” rating and issued a $6.00 price target on shares of Grab in a research report on Wednesday, September 11th. Mizuho began coverage on shares of Grab in a research report on Thursday, June 27th. They set an “outperform” rating and a $5.00 target price for the company. Finally, Jefferies Financial Group dropped their price target on shares of Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $4.71.

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.