abrdn plc Increases Holdings in Grab Holdings Limited (NASDAQ:GRAB)

abrdn plc boosted its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 30.4% during the fourth quarter, Holdings Channel reports. The firm owned 717,794 shares of the company’s stock after acquiring an additional 167,162 shares during the quarter. abrdn plc’s holdings in Grab were worth $2,419,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of GRAB. Barclays PLC boosted its position in Grab by 21,204.4% during the 3rd quarter. Barclays PLC now owns 37,301,928 shares of the company’s stock valued at $132,048,000 after acquiring an additional 37,126,838 shares in the last quarter. Ward Ferry Management BVI Ltd bought a new stake in Grab during the 3rd quarter valued at approximately $56,614,000. Artisan Partners Limited Partnership boosted its position in Grab by 94.5% during the 3rd quarter. Artisan Partners Limited Partnership now owns 22,370,805 shares of the company’s stock valued at $79,193,000 after acquiring an additional 10,869,136 shares in the last quarter. Kinetic Partners Management LP bought a new stake in Grab during the 3rd quarter valued at approximately $23,176,000. Finally, FMR LLC boosted its position in Grab by 2,898.6% during the 3rd quarter. FMR LLC now owns 4,581,183 shares of the company’s stock valued at $16,217,000 after acquiring an additional 4,428,407 shares in the last quarter. 55.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on GRAB. Barclays dropped their price target on Grab from $4.50 to $4.30 and set an “overweight” rating on the stock in a research report on Monday, February 5th. HSBC reissued a “buy” rating and issued a $4.30 price target on shares of Grab in a research report on Thursday, April 4th. Finally, JPMorgan Chase & Co. raised Grab from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $3.60 to $3.80 in a research report on Thursday, January 18th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $5.10.

Grab Stock Performance

GRAB stock opened at $3.50 on Monday. The stock has a market capitalization of $13.73 billion, a PE ratio of -35.00 and a beta of 0.91. Grab Holdings Limited has a 12-month low of $2.67 and a 12-month high of $3.92. The company has a current ratio of 3.90, a quick ratio of 3.87 and a debt-to-equity ratio of 0.10. The stock’s 50 day simple moving average is $3.24 and its 200 day simple moving average is $3.22.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.03. The business had revenue of $653.00 million for the quarter, compared to analysts’ expectations of $633.82 million. Grab had a negative return on equity of 6.77% and a negative net margin of 18.43%. The firm’s quarterly revenue was up 30.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.10) EPS. As a group, research analysts forecast that Grab Holdings Limited will post 0.01 earnings per share for the current fiscal year.

Grab Company 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.