Toronto Dominion Bank grew its stake in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 20.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,172,860 shares of the company's stock after purchasing an additional 1,035,269 shares during the period. Toronto Dominion Bank owned approximately 0.16% of Grab worth $23,457,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of the stock. Blue Trust Inc. grew its stake in Grab by 53.6% during the third quarter. Blue Trust Inc. now owns 9,767 shares of the company's stock worth $35,000 after buying an additional 3,408 shares during the last quarter. Sage Rhino Capital LLC bought a new stake in Grab during the 2nd quarter worth approximately $38,000. Traynor Capital Management Inc. acquired a new stake in Grab during the 3rd quarter valued at $41,000. Dorsey & Whitney Trust CO LLC raised its position in Grab by 37.0% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company's stock valued at $50,000 after purchasing an additional 3,795 shares during the last quarter. Finally, Glenmede Trust Co. NA acquired a new position in Grab in the third quarter worth $53,000. 55.52% of the stock is owned by institutional investors and hedge funds.
Grab Trading Down 1.0 %
Shares of NASDAQ:GRAB traded down $0.05 during midday trading on Friday, hitting $5.13. The company had a trading volume of 27,699,735 shares, compared to its average volume of 26,288,775. The firm has a fifty day simple moving average of $4.55 and a 200 day simple moving average of $3.85. The stock has a market cap of $20.66 billion, a price-to-earnings ratio of -256.50 and a beta of 0.90. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. Grab Holdings Limited has a 12 month low of $2.90 and a 12 month high of $5.72.
Grab (NASDAQ:GRAB - Get Free Report) last posted its earnings results on Monday, November 11th. The company reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $716.00 million during the quarter, compared to analyst estimates of $705.40 million. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. During the same period in the previous year, the company earned ($0.02) EPS. On average, analysts predict that Grab Holdings Limited will post -0.03 EPS for the current year.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the company. Mizuho raised their target price on Grab from $5.00 to $6.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Barclays raised their price objective 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. Bank of America cut shares of Grab from a "buy" rating to an "underperform" rating and set a $4.90 price target on the stock. in a research note on Friday, November 22nd. JPMorgan Chase & Co. raised their price target on shares of Grab from $5.00 to $5.70 and gave the company an "overweight" rating in a report on Tuesday, November 12th. Finally, China Renaissance downgraded Grab from a "buy" rating to a "hold" rating and set a $5.40 price objective on the stock. in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, Grab presently has an average rating of "Moderate Buy" and an average price target of $5.53.
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About Grab
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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.
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