Rhumbline Advisers Acquires 78,847 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Rhumbline Advisers boosted its stake in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 17.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 539,446 shares of the company's stock after buying an additional 78,847 shares during the quarter. Rhumbline Advisers' holdings in Grab were worth $2,546,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Tidal Investments LLC raised its stake in shares of Grab by 4,311.8% in the third quarter. Tidal Investments LLC now owns 445,103 shares of the company's stock valued at $1,691,000 after acquiring an additional 435,014 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Grab during the 3rd quarter valued at $22,434,000. Leibman Financial Services Inc. bought a new position in Grab in the 4th quarter valued at $937,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in Grab by 2.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,707,627 shares of the company's stock worth $22,220,000 after purchasing an additional 134,243 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Grab during the third quarter worth $2,757,000. 55.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on GRAB. Evercore ISI lifted their price target on Grab from $7.00 to $8.00 and gave the company an "outperform" rating in a report on Tuesday, November 12th. China Renaissance lowered 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. Citigroup reissued a "buy" rating on shares of Grab in a report on Tuesday, February 4th. HSBC raised Grab from a "hold" rating to a "buy" rating and reduced their price objective for the stock from $5.50 to $5.45 in a report on Tuesday, February 4th. Finally, Hsbc Global Res raised Grab from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $5.62.

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Grab Trading Down 4.8 %

NASDAQ GRAB traded down $0.23 on Thursday, reaching $4.60. The company had a trading volume of 27,703,387 shares, compared to its average volume of 28,101,016. 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 $2.98 and a 52 week high of $5.72. The stock has a market cap of $18.52 billion, a price-to-earnings ratio of -230.00, a PEG ratio of 2.26 and a beta of 0.90. The stock's 50 day moving average is $4.73 and its 200-day moving average is $4.37.

Grab (NASDAQ:GRAB - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, meeting analysts' consensus estimates of $0.01. The business had revenue of $764.00 million for the quarter, compared to the consensus estimate of $762.57 million. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. Equities analysts predict that Grab Holdings Limited will post 0.05 earnings per share for the current year.

Grab 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.