Public Sector Pension Investment Board lifted its stake in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 24.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,095,005 shares of the company's stock after purchasing an additional 211,800 shares during the quarter. Public Sector Pension Investment Board's holdings in Grab were worth $4,161,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its stake in Grab by 18.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company's stock worth $76,924,000 after purchasing an additional 3,163,309 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Grab during the 3rd quarter worth $22,434,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Grab in the third quarter valued at about $2,757,000. Caz Investments LP grew its position in Grab by 100.0% in the third quarter. Caz Investments LP now owns 3,700,232 shares of the company's stock valued at $13,598,000 after acquiring an additional 1,850,116 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC bought a new position in shares of Grab in the third quarter worth about $1,986,000. Institutional investors own 55.52% of the company's stock.
Grab Stock Up 2.1 %
Shares of NASDAQ:GRAB traded up $0.11 during midday trading on Tuesday, hitting $5.29. 39,080,970 shares of the company's stock were exchanged, compared to its average volume of 25,933,275. The company has a market cap of $21.30 billion, a PE ratio of -266.00 and a beta of 0.90. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67. Grab Holdings Limited has a 12 month low of $2.90 and a 12 month high of $5.72. The stock has a 50 day moving average price of $4.28 and a 200-day moving average price of $3.75.
Grab (NASDAQ:GRAB - Get Free Report) last posted its quarterly earnings data on Monday, November 11th. The company reported $0.01 EPS for the quarter. The firm had revenue of $716.00 million during the quarter, compared to analyst estimates of $705.40 million. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. During the same quarter last year, the business posted ($0.02) EPS. On average, sell-side analysts anticipate that Grab Holdings Limited will post -0.03 EPS for the current fiscal year.
Wall Street Analyst Weigh In
GRAB has been the subject of a number of research analyst reports. China Renaissance cut shares of Grab from a "buy" rating to a "hold" rating and set a $5.40 price objective for the company. in a research report on Thursday, November 21st. Daiwa Capital Markets initiated coverage on Grab in a report on Wednesday, October 23rd. They set an "outperform" rating and a $4.60 price objective on the stock. Mizuho upped their price objective on Grab from $5.00 to $6.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Benchmark reiterated a "buy" rating and set a $6.00 price target on shares of Grab in a report on Tuesday, November 12th. Finally, Evercore ISI increased their price target on Grab from $7.00 to $8.00 and gave the company an "outperform" rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $5.42.
View 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.
Further Reading
Before you consider Grab, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Grab wasn't on the list.
While Grab currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Click the link below to learn more about using beta to protect yourself.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
