Bank Pictet & Cie Europe AG Makes New $919,000 Investment in Grab Holdings Limited $GRAB

Bank Pictet & Cie Europe AG purchased a new stake in Grab Holdings Limited (NASDAQ:GRAB) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 152,640 shares of the company’s stock, valued at approximately $919,000.

Several other institutional investors also recently modified their holdings of GRAB. Northwestern Mutual Wealth Management Co. lifted its stake in Grab by 16.1% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 25,025 shares of the company’s stock valued at $113,000 after purchasing an additional 3,465 shares during the last quarter. Corebridge Financial Inc. raised its stake in Grab by 4.9% in the first quarter. Corebridge Financial Inc. now owns 340,657 shares of the company’s stock valued at $1,543,000 after buying an additional 15,765 shares during the period. Vident Advisory LLC raised its stake in Grab by 9.4% in the first quarter. Vident Advisory LLC now owns 71,848 shares of the company’s stock valued at $325,000 after buying an additional 6,154 shares during the period. Panagora Asset Management Inc. lifted its position in shares of Grab by 7.1% in the first quarter. Panagora Asset Management Inc. now owns 346,673 shares of the company’s stock valued at $1,570,000 after buying an additional 23,129 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of Grab by 34.8% during the 1st quarter. Royal Bank of Canada now owns 7,206,698 shares of the company’s stock worth $32,646,000 after acquiring an additional 1,862,433 shares during the period. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Grab Trading Down 1.6%

GRAB stock opened at $4.99 on Friday. Grab Holdings Limited has a 52 week low of $3.36 and a 52 week high of $6.62. The company has a market capitalization of $20.09 billion, a PE ratio of 124.78 and a beta of 0.90. The company’s 50-day simple moving average is $5.36 and its 200 day simple moving average is $5.35. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.81 and a current ratio of 1.83.

Grab (NASDAQ:GRAB) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). Grab had a net margin of 3.81% and a return on equity of 1.91%. The business had revenue of $873.00 million during the quarter, compared to the consensus estimate of $870.44 million. As a group, sell-side analysts anticipate that Grab Holdings Limited will post 0.05 earnings per share for the current year.

Analysts Set New Price Targets

GRAB has been the topic of a number of research analyst reports. Barclays increased their price target on Grab from $6.50 to $7.00 and gave the company an “overweight” rating in a research note on Tuesday, November 11th. Hsbc Global Res lowered shares of Grab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Weiss Ratings restated a “hold (c-)” rating on shares of Grab in a research note on Wednesday, October 8th. Mizuho set a $7.00 price target on shares of Grab in a research note on Tuesday, November 4th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $7.00 price target on shares of Grab in a report on Tuesday, November 4th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Grab has a consensus rating of “Moderate Buy” and a consensus target price of $6.37.

About Grab

Grab Holdings Inc is a Singapore-based technology company that operates a consumer-facing “super app” across Southeast Asia offering services spanning ride-hailing, food and package delivery, and digital payments. Its platform connects consumers, drivers, merchants and delivery partners through mobile applications and supports on-demand mobility (taxi and private car), last-mile logistics, and on-demand food delivery under brands such as GrabFood and GrabExpress. The company has also developed a merchant-facing ecosystem that supports ordering, payment acceptance and loyalty functions.

Beyond transportation and delivery, Grab has expanded into financial services through Grab Financial Group, which provides digital payments via GrabPay, consumer lending, insurance distribution and small-business financial solutions.