Teacher Retirement System of Texas Boosts Stock Position in Grab Holdings Limited (NASDAQ:GRAB)

Teacher Retirement System of Texas raised its stake in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 85.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,042,121 shares of the company's stock after buying an additional 481,363 shares during the period. Teacher Retirement System of Texas' holdings in Grab were worth $4,919,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Empowered Funds LLC raised its holdings in Grab by 7.7% during the third quarter. Empowered Funds LLC now owns 43,788 shares of the company's stock worth $166,000 after purchasing an additional 3,147 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Grab in the 3rd quarter worth about $2,757,000. Charles Schwab Investment Management Inc. grew its stake in Grab by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,429,899 shares of the company's stock valued at $5,434,000 after acquiring an additional 48,596 shares during the last quarter. Citigroup Inc. increased its holdings in Grab by 83.6% during the 3rd quarter. Citigroup Inc. now owns 14,277,673 shares of the company's stock valued at $54,255,000 after acquiring an additional 6,503,051 shares in the last quarter. Finally, Dai ichi Life Insurance Company Ltd raised its position in Grab by 13.8% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 123,679 shares of the company's stock worth $470,000 after acquiring an additional 15,000 shares during the last quarter. 55.52% of the stock is currently owned by institutional investors and hedge funds.

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Grab Stock Up 0.4 %

Shares of GRAB traded up $0.02 during midday trading on Thursday, reaching $4.80. 27,425,690 shares of the company were exchanged, compared to its average volume of 28,227,503. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. Grab Holdings Limited has a 1-year low of $2.98 and a 1-year high of $5.72. The company has a market cap of $19.33 billion, a price-to-earnings ratio of -240.00, a P/E/G ratio of 2.26 and a beta of 0.88. The stock has a 50-day moving average price of $4.68 and a 200-day moving average price of $4.50.

Grab (NASDAQ:GRAB - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) 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 company had revenue of $764.00 million during the quarter, compared to the consensus estimate of $762.57 million. Research analysts expect that Grab Holdings Limited will post 0.05 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GRAB. Barclays raised their price objective on shares of Grab from $5.50 to $6.50 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. HSBC raised Grab from a "hold" rating to a "buy" rating and cut their price target for the stock from $5.50 to $5.45 in a report on Tuesday, February 4th. JPMorgan Chase & Co. upgraded Grab from a "neutral" rating to an "overweight" rating and set a $5.60 price objective for the company in a research report on Friday, February 21st. Bank of America upgraded shares of Grab from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $4.90 to $5.10 in a report on Tuesday, January 7th. Finally, Citigroup restated a "buy" rating on shares of Grab in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Grab presently has a consensus rating of "Moderate Buy" and an average price target of $5.62.

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.