Charles Schwab Investment Management Inc. Acquires 48,596 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Charles Schwab Investment Management Inc. increased its position in Grab Holdings Limited (NASDAQ:GRAB) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,429,899 shares of the company’s stock after purchasing an additional 48,596 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Grab were worth $5,434,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GRAB. Sequoia Financial Advisors LLC lifted its position in Grab by 8.1% in the second quarter. Sequoia Financial Advisors LLC now owns 40,185 shares of the company’s stock worth $143,000 after purchasing an additional 3,020 shares during the period. AdvisorNet Financial Inc raised its stake in Grab by 40.6% during the second quarter. AdvisorNet Financial Inc now owns 53,856 shares of the company’s stock worth $191,000 after acquiring an additional 15,560 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Grab by 17.1% during the second quarter. Assenagon Asset Management S.A. now owns 3,521,043 shares of the company’s stock worth $12,500,000 after acquiring an additional 514,741 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Grab by 5.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,903,454 shares of the company’s stock worth $20,957,000 after acquiring an additional 310,506 shares in the last quarter. Finally, Nisa Investment Advisors LLC acquired a new position in Grab during the second quarter worth $222,000. 55.52% of the stock is owned by institutional investors.

Grab Stock Down 4.1 %

NASDAQ:GRAB opened at $5.18 on Friday. The firm has a market capitalization of $20.86 billion, a price-to-earnings ratio of -259.00 and a beta of 0.90. Grab Holdings Limited has a twelve month low of $2.90 and a twelve month high of $5.72. The stock’s 50 day moving average price is $4.52 and its two-hundred day moving average price is $3.84. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. The firm had revenue of $716.00 million for the quarter, compared to analyst estimates of $705.40 million. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. During the same quarter in the previous year, the firm earned ($0.02) EPS. Equities research analysts expect that Grab Holdings Limited will post -0.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on GRAB. JPMorgan Chase & Co. increased their price objective on Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Hsbc Global Res lowered Grab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. China Renaissance lowered Grab from a “buy” rating to a “hold” rating and set a $5.40 price objective for the company. in a research report on Thursday, November 21st. HSBC cut Grab from a “buy” rating to a “hold” rating and lifted their price objective for the company from $4.25 to $5.50 in a report on Thursday, December 5th. Finally, Benchmark reiterated a “buy” rating and set a $6.00 price objective on shares of Grab in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Grab has an average rating of “Moderate Buy” and a consensus price target of $5.53.

About Grab

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.