New York State Common Retirement Fund lowered its position in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 64.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,738,622 shares of the company's stock after selling 5,038,984 shares during the period. New York State Common Retirement Fund owned about 0.07% of Grab worth $12,926,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP grew its stake 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 buying an additional 14,671,388 shares in the last quarter. Baillie Gifford & Co. grew its position in Grab by 10.0% in the fourth quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company's stock worth $221,942,000 after acquiring an additional 4,259,537 shares in the last quarter. Perpetual Ltd bought a new stake in Grab during the fourth quarter worth approximately $213,177,000. State Street Corp raised its position in Grab by 2.3% during the third quarter. State Street Corp now owns 43,570,388 shares of the company's stock valued at $165,567,000 after purchasing an additional 967,233 shares during the period. Finally, Coronation Fund Managers Ltd. lifted its stake in shares of Grab by 11.4% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 33,735,725 shares of the company's stock valued at $128,196,000 after purchasing an additional 3,442,581 shares during the last quarter. Hedge funds and other institutional investors own 55.52% of the company's stock.
Grab Stock Performance
Grab stock traded down $0.04 during midday trading on Thursday, hitting $4.83. 36,831,103 shares of the company were exchanged, compared to its average volume of 36,430,883. Grab Holdings Limited has a fifty-two week low of $2.98 and a fifty-two week high of $5.72. The firm has a market capitalization of $19.45 billion, a PE ratio of -241.50, a price-to-earnings-growth ratio of 2.26 and a beta of 0.90. The business has a fifty day simple moving average of $4.75 and a two-hundred day simple moving average of $4.32. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70.
Grab (NASDAQ:GRAB - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. The firm had revenue of $764.00 million during the quarter, compared to analyst estimates of $762.57 million. On average, sell-side analysts forecast that Grab Holdings Limited will post 0.05 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on GRAB. Mizuho boosted their target price on Grab from $5.00 to $6.00 and gave the company an "outperform" rating in a research report on Wednesday, November 13th. Bank of America upgraded shares of Grab from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $4.90 to $5.10 in a research report on Tuesday, January 7th. HSBC upgraded shares of Grab from a "hold" rating to a "buy" rating and lowered their target price for the stock from $5.50 to $5.45 in a report on Tuesday, February 4th. Barclays upped their price target on shares of Grab from $5.50 to $6.50 and gave the company an "overweight" rating in a report on Thursday, February 20th. Finally, Benchmark reissued a "buy" rating and issued a $6.00 price objective on shares of Grab in a research note on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $5.62.
Read Our Latest Research Report on Grab
About Grab
(
Free Report)
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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