Russell Investments Group Ltd. lifted its position in Grab Holdings Limited (NASDAQ:GRAB – Get Rating) by 11.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,910,127 shares of the company’s stock after purchasing an additional 497,426 shares during the quarter. Russell Investments Group Ltd. owned about 0.13% of Grab worth $15,810,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. LPL Financial LLC bought a new stake in shares of Grab in the fourth quarter worth about $49,000. Handelsbanken Fonder AB bought a new stake in Grab during the fourth quarter worth approximately $239,000. Pacer Advisors Inc. bought a new stake in Grab during the fourth quarter worth approximately $46,000. Banque Pictet & Cie SA increased its stake in Grab by 54.0% during the fourth quarter. Banque Pictet & Cie SA now owns 198,908 shares of the company’s stock worth $640,000 after acquiring an additional 69,758 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its stake in Grab by 1.9% during the fourth quarter. Asset Management One Co. Ltd. now owns 491,832 shares of the company’s stock worth $1,579,000 after acquiring an additional 9,387 shares during the last quarter. 46.57% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on GRAB shares. Macquarie started coverage on Grab in a research note on Monday, March 13th. They set an “outperform” rating and a $4.00 price objective on the stock. Bank of America upgraded Grab from a “neutral” rating to a “buy” rating and boosted their target price for the company from $3.60 to $4.20 in a research report on Tuesday, January 17th. JPMorgan Chase & Co. lowered Grab from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $3.20 to $2.80 in a research report on Wednesday, February 1st. Citigroup dropped their target price on Grab from $5.00 to $4.80 and set a “buy” rating for the company in a research report on Friday, April 21st. Finally, Loop Capital dropped their target price on Grab from $5.00 to $4.00 in a research report on Wednesday, April 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $3.92.
Grab Price Performance
Grab (NASDAQ:GRAB – Get Rating) last posted its earnings results on Thursday, February 23rd. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.04). The firm had revenue of $502.00 million for the quarter, compared to analysts’ expectations of $405.39 million. Grab had a negative return on equity of 23.71% and a negative net margin of 117.45%. Grab’s quarterly revenue was up 311.5% on a year-over-year basis. As a group, equities research analysts forecast that Grab Holdings Limited will post -0.17 earnings per share for the current year.
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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