Tuttle Capital Management LLC purchased a new stake in Grab Holdings Limited (NASDAQ:GRAB – Get Rating) during the 1st quarter, Holdings Channel reports. The firm purchased 18,966 shares of the company’s stock, valued at approximately $66,000.
Several other large investors also recently made changes to their positions in GRAB. National Asset Management Inc. acquired a new stake in shares of Grab in the fourth quarter valued at approximately $118,000. Commonwealth Equity Services LLC acquired a new position in shares of Grab during the fourth quarter valued at approximately $94,000. Ieq Capital LLC acquired a new position in shares of Grab during the fourth quarter valued at approximately $959,000. Avestar Capital LLC acquired a new position in shares of Grab during the fourth quarter valued at approximately $129,000. Finally, Banque Pictet & Cie SA acquired a new position in shares of Grab during the fourth quarter valued at approximately $163,000. Institutional investors and hedge funds own 46.25% of the company’s stock.
Wall Street Analyst Weigh In
GRAB has been the topic of a number of research analyst reports. Evercore ISI lowered their price objective on shares of Grab from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Thursday, July 7th. Sanford C. Bernstein upgraded shares of Grab from a “market perform” rating to an “outperform” rating and set a $3.04 price target on the stock in a research report on Tuesday, May 31st. China Renaissance assumed coverage on shares of Grab in a research report on Monday, June 6th. They issued a “buy” rating and a $4.20 price target on the stock. KGI Securities assumed coverage on shares of Grab in a research report on Monday, June 6th. They issued a “neutral” rating on the stock. Finally, HSBC decreased their price target on shares of Grab from $7.50 to $4.75 and set a “buy” rating on the stock in a research report on Monday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Grab has an average rating of “Moderate Buy” and a consensus price target of $5.50.
Grab Stock Performance
Grab (NASDAQ:GRAB – Get Rating) last issued its earnings results on Thursday, May 19th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.11). The company had revenue of $228.00 million for the quarter, compared to analyst estimates of $134.87 million. On average, equities analysts forecast that Grab Holdings Limited will post -0.33 earnings per share for the current year.
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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