Geode Capital Management LLC Grows Holdings in Grab Holdings Limited (NASDAQ:GRAB)

Geode Capital Management LLC lifted its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 4.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,655,571 shares of the company's stock after purchasing an additional 988,953 shares during the period. Geode Capital Management LLC owned about 0.54% of Grab worth $101,086,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of GRAB. Baillie Gifford & Co. raised its holdings in shares of Grab by 10.0% in the 4th quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company's stock valued at $221,942,000 after acquiring an additional 4,259,537 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Grab by 4,311.8% during the 3rd quarter. Tidal Investments LLC now owns 445,103 shares of the company's stock valued at $1,691,000 after purchasing an additional 435,014 shares in the last quarter. Leibman Financial Services Inc. bought a new position in shares of Grab in the 4th quarter worth approximately $937,000. Sumitomo Mitsui Trust Group Inc. lifted its position in Grab by 2.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,707,627 shares of the company's stock valued at $22,220,000 after buying an additional 134,243 shares during the period. Finally, Baader Bank Aktiengesellschaft lifted its position in Grab by 764.5% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 315,000 shares of the company's stock valued at $1,487,000 after acquiring an additional 278,563 shares during the period. Hedge funds and other institutional investors own 55.52% of the company's stock.

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Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. raised shares of Grab from a "neutral" rating to an "overweight" rating and set a $5.60 target price for the company in a report on Friday, February 21st. Benchmark reiterated a "buy" rating and issued a $6.00 price objective on shares of Grab in a report on Thursday, February 20th. Bank of America raised shares of Grab from an "underperform" rating to a "neutral" rating and raised their price target for the company from $4.90 to $5.10 in a report on Tuesday, January 7th. CLSA raised shares of Grab to a "moderate buy" rating in a report on Wednesday, April 9th. Finally, HSBC raised shares of Grab from a "hold" rating to a "buy" rating and cut their target price for the stock from $5.50 to $5.45 in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $5.62.

Grab Price Performance

Grab stock traded up $0.08 during mid-day trading on Tuesday, hitting $4.06. The stock had a trading volume of 4,560,591 shares, compared to its average volume of 30,012,447. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. The firm's 50 day moving average is $4.54 and its 200 day moving average is $4.56. The firm has a market capitalization of $16.33 billion, a P/E ratio of -202.75, a P/E/G ratio of 2.26 and a beta of 0.88. Grab Holdings Limited has a one year low of $2.98 and a one year high of $5.72.

Grab (NASDAQ:GRAB - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, hitting analysts' consensus estimates of $0.01. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. The company had revenue of $764.00 million for the quarter, compared to analysts' expectations of $762.57 million. On average, sell-side analysts forecast that Grab Holdings Limited will post 0.05 earnings per share 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.