Grab Holdings Limited (NASDAQ:GRAB) Shares Bought by NewEdge Wealth LLC

NewEdge Wealth LLC increased its stake in Grab Holdings Limited (NASDAQ:GRAB) by 17.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,093 shares of the company’s stock after acquiring an additional 18,094 shares during the period. NewEdge Wealth LLC’s holdings in Grab were worth $418,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Lake Street Advisors Group LLC boosted its stake in Grab by 0.4% during the 3rd quarter. Lake Street Advisors Group LLC now owns 696,416 shares of the company’s stock valued at $2,465,000 after purchasing an additional 2,972 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Grab by 1.8% in the second quarter. Dimensional Fund Advisors LP now owns 190,012 shares of the company’s stock valued at $652,000 after buying an additional 3,295 shares during the period. Sequoia Financial Advisors LLC boosted its stake in Grab by 9.2% during the fourth quarter. Sequoia Financial Advisors LLC now owns 41,821 shares of the company’s stock valued at $141,000 after buying an additional 3,510 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Grab by 9.5% during the third quarter. PNC Financial Services Group Inc. now owns 41,774 shares of the company’s stock worth $148,000 after acquiring an additional 3,632 shares during the period. Finally, Public Sector Pension Investment Board raised its position in Grab by 0.6% in the third quarter. Public Sector Pension Investment Board now owns 668,080 shares of the company’s stock worth $2,365,000 after acquiring an additional 4,200 shares in the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Barclays reduced their price objective on shares of Grab from $4.50 to $4.30 and set an “overweight” rating for the company in a research report on Monday, February 5th. HSBC restated a “buy” rating and set a $4.30 target price on shares of Grab in a report on Thursday, April 4th. Finally, JPMorgan Chase & Co. upgraded Grab from a “neutral” rating to an “overweight” rating and increased their price objective for the company 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, Grab has an average rating of “Buy” and an average price target of $5.10.

Grab Stock Performance

Shares of GRAB opened at $3.21 on Thursday. Grab Holdings Limited has a one year low of $2.67 and a one year high of $3.92. The company has a 50-day moving average of $3.24 and a two-hundred day moving average of $3.23. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.90 and a quick ratio of 3.87. The stock has a market cap of $12.59 billion, a price-to-earnings ratio of -32.10 and a beta of 0.91.

Grab (NASDAQ:GRAB) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. Grab had a negative net margin of 18.43% and a negative return on equity of 6.77%. The firm had revenue of $653.00 million during the quarter, compared to analyst estimates of $633.82 million. During the same quarter last year, the business posted ($0.10) EPS. The company’s revenue was up 30.1% on a year-over-year basis. On average, equities research analysts expect that Grab Holdings Limited will post 0.01 earnings per share for the current year.

Grab 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.