Sumitomo Mitsui Trust Group Inc. decreased its position in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 22.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,573,384 shares of the company's stock after selling 1,330,070 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.12% of Grab worth $17,379,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in shares of Grab by 53.6% in the 3rd 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 purchased a new position in shares of Grab in the 2nd quarter worth about $38,000. Traynor Capital Management Inc. purchased a new position in shares of Grab in the 3rd quarter worth about $41,000. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Grab by 37.0% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company's stock worth $50,000 after buying an additional 3,795 shares during the last quarter. Finally, Prospect Financial Services LLC purchased a new position in shares of Grab in the 2nd quarter worth about $53,000. 55.52% of the stock is owned by hedge funds and other institutional investors.
Grab Price Performance
Shares of GRAB stock traded up $0.26 during trading on Monday, hitting $4.99. The company had a trading volume of 59,115,129 shares, compared to its average volume of 24,902,775. The company has a quick ratio of 2.97, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. The stock's 50-day moving average is $3.93 and its two-hundred day moving average is $3.63. The stock has a market capitalization of $19.58 billion, a price-to-earnings ratio of -249.50 and a beta of 0.81. Grab Holdings Limited has a 52 week low of $2.90 and a 52 week high of $4.99.
Grab (NASDAQ:GRAB - Get Free Report) last issued 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 business had revenue of $716.00 million for the quarter, compared to analysts' expectations of $705.40 million. During the same period last year, the business earned ($0.02) earnings per share. As a group, analysts predict that Grab Holdings Limited will post -0.03 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on GRAB shares. Daiwa Capital Markets started coverage on shares of Grab in a report on Wednesday, October 23rd. They issued an "outperform" rating and a $4.60 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of Grab from $5.00 to $5.70 and gave the company an "overweight" rating in a report on Tuesday, November 12th. Evercore ISI upped their price objective on shares of Grab from $7.00 to $8.00 and gave the company an "outperform" rating in a report on Tuesday, November 12th. Mizuho upped their price objective on shares of Grab from $5.00 to $6.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Finally, Benchmark reissued a "buy" rating and issued a $6.00 price target on shares of Grab in a report on Tuesday, November 12th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $5.48.
Get Our Latest Stock 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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