Grab Holdings Limited (NASDAQ:GRAB) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 37.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,276,503 shares of the company's stock after buying an additional 347,202 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Grab were worth $6,025,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Metis Global Partners LLC boosted its holdings in Grab by 10.9% in the third quarter. Metis Global Partners LLC now owns 53,262 shares of the company's stock valued at $202,000 after purchasing an additional 5,221 shares during the period. CIBC Asset Management Inc boosted its stake in shares of Grab by 4.9% in the 3rd quarter. CIBC Asset Management Inc now owns 203,901 shares of the company's stock valued at $775,000 after buying an additional 9,466 shares during the period. Empowered Funds LLC grew its position in shares of 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 buying an additional 3,147 shares in the last quarter. Swiss National Bank increased its stake in shares of Grab by 0.9% during the third quarter. Swiss National Bank now owns 6,274,800 shares of the company's stock worth $23,844,000 after buying an additional 55,100 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Grab in the third quarter valued at approximately $2,757,000. Hedge funds and other institutional investors own 55.52% of the company's stock.

Remove Ads

Grab Stock Performance

Shares of Grab stock traded up $0.15 during trading on Tuesday, reaching $4.60. The company's stock had a trading volume of 35,954,987 shares, compared to its average volume of 28,048,326. The firm has a market cap of $18.52 billion, a PE ratio of -230.00, a P/E/G ratio of 2.26 and a beta of 0.88. The company has a 50-day moving average price of $4.66 and a two-hundred day moving average price of $4.44. 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 fifty-two week low of $2.98 and a fifty-two week high of $5.72.

Grab (NASDAQ:GRAB - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, meeting analysts' consensus estimates of $0.01. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. The business had revenue of $764.00 million during the quarter, compared to analysts' expectations of $762.57 million. On average, analysts forecast that Grab Holdings Limited will post 0.05 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. China Renaissance cut shares of Grab from a "buy" rating to a "hold" rating and set a $5.40 price target for the company. in a report on Thursday, November 21st. Barclays increased their target price on Grab from $5.50 to $6.50 and gave the company an "overweight" rating in a report on Thursday, February 20th. Bank of America raised 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. Benchmark reiterated a "buy" rating and issued a $6.00 price objective on shares of Grab in a report on Thursday, February 20th. Finally, Hsbc Global Res raised Grab from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Grab presently has a consensus rating of "Moderate Buy" and a consensus target price of $5.62.

Grab 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.