DAVENPORT & Co LLC Buys Shares of 31,610 Grab Holdings Limited $GRAB

DAVENPORT & Co LLC bought a new stake in shares of Grab Holdings Limited (NASDAQ:GRAB) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 31,610 shares of the company’s stock, valued at approximately $159,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Amundi increased its holdings in shares of Grab by 102.3% in the first quarter. Amundi now owns 3,349,450 shares of the company’s stock valued at $14,269,000 after purchasing an additional 1,693,598 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Grab by 18.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,261,794 shares of the company’s stock valued at $78,196,000 after purchasing an additional 2,679,277 shares during the last quarter. SCS Capital Management LLC acquired a new stake in shares of Grab in the first quarter valued at approximately $1,197,000. Exchange Traded Concepts LLC increased its holdings in shares of Grab by 559.1% in the second quarter. Exchange Traded Concepts LLC now owns 1,773,947 shares of the company’s stock valued at $8,923,000 after purchasing an additional 1,504,799 shares during the last quarter. Finally, Voya Investment Management LLC increased its holdings in shares of Grab by 354.4% in the first quarter. Voya Investment Management LLC now owns 1,889,769 shares of the company’s stock valued at $8,561,000 after purchasing an additional 1,473,925 shares during the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on GRAB shares. Hsbc Global Res cut Grab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Grab in a research report on Wednesday, October 8th. Finally, HSBC reiterated a “hold” rating and issued a $6.20 price objective on shares of Grab in a research report on Wednesday, September 17th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $5.90.

Grab Trading Up 1.2%

GRAB opened at $5.93 on Tuesday. Grab Holdings Limited has a 52 week low of $3.36 and a 52 week high of $6.62. The business has a fifty day simple moving average of $5.54 and a 200-day simple moving average of $5.04. The firm has a market cap of $23.88 billion, a P/E ratio of 148.29 and a beta of 0.88. The company has a quick ratio of 1.87, a current ratio of 1.88 and a debt-to-equity ratio of 0.04.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. Grab had a return on equity of 1.75% and a net margin of 3.65%.The business had revenue of $819.00 million during the quarter, compared to analyst estimates of $809.41 million. Grab has set its FY 2025 guidance at EPS. On average, equities analysts expect that Grab Holdings Limited will post 0.05 earnings per share for the current 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.