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

Geode Capital Management LLC raised its stake in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 2.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,666,618 shares of the company's stock after purchasing an additional 591,898 shares during the quarter. Geode Capital Management LLC owned 0.53% of Grab worth $77,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of GRAB. M&T Bank Corp lifted its stake in Grab by 1.7% during the third quarter. M&T Bank Corp now owns 335,179 shares of the company's stock worth $1,274,000 after purchasing an additional 5,545 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Grab during the 3rd quarter valued at about $696,000. Nomura Asset Management Co. Ltd. grew its position in Grab by 1.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 583,500 shares of the company's stock valued at $2,217,000 after acquiring an additional 9,600 shares during the last quarter. XTX Topco Ltd raised its stake in shares of Grab by 265.5% during the third quarter. XTX Topco Ltd now owns 112,274 shares of the company's stock worth $427,000 after acquiring an additional 81,558 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Grab by 13.4% in the 3rd quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company's stock worth $472,394,000 after acquiring an additional 14,671,388 shares during the last quarter. Hedge funds and other institutional investors own 55.52% of the company's stock.

Grab Stock Down 0.4 %

Shares of NASDAQ GRAB traded down $0.02 during trading on Friday, reaching $4.90. The company had a trading volume of 26,923,740 shares, compared to its average volume of 26,331,621. Grab Holdings Limited has a 12-month low of $2.90 and a 12-month high of $5.72. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. The business's 50-day moving average is $4.68 and its 200 day moving average is $3.89. The stock has a market cap of $19.73 billion, a PE ratio of -245.00 and a beta of 0.90.

Grab (NASDAQ:GRAB - Get Free Report) last posted its quarterly earnings results on Monday, November 11th. The company reported $0.01 EPS for the quarter. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The firm had revenue of $716.00 million for the quarter, compared to analysts' expectations of $705.40 million. During the same quarter in the prior year, the company posted ($0.02) earnings per share. As a group, equities analysts forecast that Grab Holdings Limited will post -0.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GRAB shares. Evercore ISI boosted their target price on Grab from $7.00 to $8.00 and gave the company an "outperform" rating in a research note on Tuesday, November 12th. Bank of America downgraded Grab from a "buy" rating to an "underperform" rating and set a $4.90 price objective for the company. in a research report on Friday, November 22nd. Barclays raised their target price on shares of Grab from $4.70 to $5.50 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. China Renaissance lowered shares of Grab from a "buy" rating to a "hold" rating and set a $5.40 price target for the company. in a report on Thursday, November 21st. Finally, Hsbc Global Res lowered shares of Grab from a "strong-buy" rating to a "hold" rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.53.

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.