Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB – Get Rating) by 16.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 701,536 shares of the company’s stock after selling 134,171 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Grab were worth $2,259,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in shares of Grab in the 1st quarter valued at approximately $161,045,000. Capital Research Global Investors lifted its position in shares of Grab by 50.9% in the 1st quarter. Capital Research Global Investors now owns 108,322,250 shares of the company’s stock valued at $379,128,000 after acquiring an additional 36,542,740 shares in the last quarter. State Street Corp purchased a new stake in shares of Grab in the 1st quarter valued at approximately $49,695,000. E Fund Management Co. Ltd. lifted its position in shares of Grab by 1,375.0% in the 3rd quarter. E Fund Management Co. Ltd. now owns 11,800,000 shares of the company’s stock valued at $31,034,000 after acquiring an additional 11,000,000 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Grab in the 3rd quarter valued at approximately $27,697,000. 46.57% of the stock is owned by institutional investors and hedge funds.
Grab Stock Performance
Shares of GRAB opened at $2.93 on Friday. The company has a quick ratio of 5.14, a current ratio of 5.19 and a debt-to-equity ratio of 0.19. The company’s fifty day moving average is $3.07 and its 200-day moving average is $3.10. The firm has a market cap of $10.96 billion, a price-to-earnings ratio of -6.66 and a beta of 0.77. Grab Holdings Limited has a 12 month low of $2.19 and a 12 month high of $4.03.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the stock. Loop Capital reduced their price target on shares of Grab from $5.00 to $4.00 in a research report on Wednesday, April 12th. Benchmark assumed coverage on shares of Grab in a research note on Thursday. They issued a “buy” rating and a $4.00 price objective on the stock. Macquarie assumed coverage on shares of Grab in a research note on Monday, March 13th. They issued an “outperform” rating and a $4.00 price objective on the stock. Citigroup dropped their price objective on shares of Grab from $5.00 to $4.80 in a research note on Friday. Finally, Bank of America upgraded shares of Grab from a “neutral” rating to a “buy” rating and upped their price objective for the company from $3.60 to $4.20 in a research note on Tuesday, January 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Grab presently has an average rating of “Moderate Buy” and an average target price of $3.92.
About Grab
Grab Holdings Limited provides superapps that allows access to mobility, delivery, financial services, and enterprise offerings through its mobile application in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The company is headquartered in Singapore.
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