Public Employees Retirement System of Ohio Buys New Stake in Grab Holdings Limited (NASDAQ:GRAB)

Public Employees Retirement System of Ohio acquired a new position in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 183,100 shares of the company's stock, valued at approximately $696,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Empowered Funds LLC raised its holdings in shares of Grab by 7.7% in the third quarter. Empowered Funds LLC now owns 43,788 shares of the company's stock worth $166,000 after acquiring an additional 3,147 shares during the last quarter. Blue Trust Inc. increased its position 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 purchasing an additional 3,408 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its stake in Grab by 37.0% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company's stock worth $50,000 after purchasing an additional 3,795 shares during the period. Asset Management One Co. Ltd. grew its stake in shares of Grab by 0.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 776,458 shares of the company's stock valued at $2,951,000 after buying an additional 3,941 shares during the period. Finally, First Trust Direct Indexing L.P. increased its holdings in shares of Grab by 34.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 18,435 shares of the company's stock worth $70,000 after buying an additional 4,725 shares during the last quarter. Hedge funds and other institutional investors own 55.52% of the company's stock.

Analyst Upgrades and Downgrades

GRAB has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price target on Grab from $5.00 to $5.70 and gave the company an "overweight" rating in a research report on Tuesday, November 12th. Daiwa Capital Markets began coverage on shares of Grab in a report on Wednesday, October 23rd. They set an "outperform" rating and a $4.60 target price on the stock. Bank of America lowered Grab from a "buy" rating to an "underperform" rating and set a $4.90 price objective on the stock. in a research report on Friday, November 22nd. Benchmark reaffirmed a "buy" rating and issued a $6.00 target price on shares of Grab in a research report on Tuesday, November 12th. Finally, Barclays upped their price target on Grab from $4.70 to $5.50 and gave the stock an "overweight" rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $5.53.

Grab Stock Performance

GRAB traded down $0.02 on Friday, hitting $4.90. 26,923,740 shares of the company's stock were exchanged, compared to its average volume of 26,331,621. 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 stock has a fifty day moving average of $4.66 and a two-hundred day moving average of $3.88. Grab Holdings Limited has a twelve month low of $2.90 and a twelve month high of $5.72. The firm 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 released its quarterly earnings results on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. The company had revenue of $716.00 million for the quarter, compared to analysts' expectations of $705.40 million. During the same quarter in the previous year, the company posted ($0.02) earnings per share. On average, research analysts anticipate that Grab Holdings Limited will post -0.03 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.