abrdn plc boosted its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB – Get Rating) by 49.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 268,702 shares of the company’s stock after acquiring an additional 88,564 shares during the period. abrdn plc’s holdings in Grab were worth $865,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of GRAB. TD Asset Management Inc. raised its holdings in shares of Grab by 15.2% during the third quarter. TD Asset Management Inc. now owns 273,918 shares of the company’s stock valued at $701,000 after purchasing an additional 36,118 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Grab by 0.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 835,707 shares of the company’s stock valued at $2,198,000 after purchasing an additional 4,267 shares during the last quarter. KBC Group NV raised its holdings in shares of Grab by 22.9% during the third quarter. KBC Group NV now owns 47,965 shares of the company’s stock valued at $126,000 after purchasing an additional 8,932 shares during the last quarter. BBR Partners LLC raised its holdings in shares of Grab by 116.7% during the third quarter. BBR Partners LLC now owns 71,782 shares of the company’s stock valued at $189,000 after purchasing an additional 38,652 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of Grab by 211.1% during the third quarter. Nuveen Asset Management LLC now owns 9,061,968 shares of the company’s stock valued at $23,833,000 after purchasing an additional 6,149,205 shares during the last quarter. 46.57% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on GRAB. Citigroup cut their target price on shares of Grab from $5.00 to $4.80 and set a “buy” rating for the company in a research report on Friday, April 21st. Macquarie began coverage on shares of Grab in a research report on Monday, March 13th. They set an “outperform” rating and a $4.00 target price for the company. Benchmark began coverage on shares of Grab in a research report on Thursday, April 20th. They set a “buy” rating and a $4.00 target price for the company. HSBC boosted their target price on shares of Grab from $4.03 to $4.20 in a research report on Friday, May 19th. Finally, JPMorgan Chase & Co. lowered shares of Grab from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $3.20 to $2.80 in a research report on Wednesday, February 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $3.87.
Grab Price Performance
Grab (NASDAQ:GRAB – Get Rating) last released its quarterly earnings results on Thursday, May 18th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The company had revenue of $525.00 million for the quarter, compared to the consensus estimate of $505.00 million. Grab had a negative net margin of 86.94% and a negative return on equity of 22.08%. Grab’s revenue was up 130.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.11) earnings per share. On average, equities analysts anticipate that Grab Holdings Limited will post -0.17 EPS for the current fiscal year.
Grab Company Profile
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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