Miracle Mile Advisors LLC Makes New $32,000 Investment in Grab Holdings Limited (NASDAQ:GRAB)

Miracle Mile Advisors LLC acquired a new position in Grab Holdings Limited (NASDAQ:GRAB) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,317 shares of the company’s stock, valued at approximately $32,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Grab in the fourth quarter worth $146,995,000. Wellington Management Group LLP grew its stake in shares of Grab by 21,347.2% in the fourth quarter. Wellington Management Group LLP now owns 6,724,121 shares of the company’s stock worth $22,660,000 after acquiring an additional 6,692,769 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Grab by 758.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 6,031,759 shares of the company’s stock worth $20,327,000 after acquiring an additional 5,328,992 shares during the last quarter. FMR LLC grew its stake in shares of Grab by 2,898.6% in the third quarter. FMR LLC now owns 4,581,183 shares of the company’s stock worth $16,217,000 after acquiring an additional 4,428,407 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of Grab by 594.7% in the fourth quarter. Hsbc Holdings PLC now owns 3,274,541 shares of the company’s stock worth $11,028,000 after acquiring an additional 3,936,451 shares during the last quarter. Institutional investors own 55.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GRAB. HSBC reissued a “buy” rating and issued a $4.30 target price on shares of Grab in a research note on Thursday, April 4th. Barclays increased their price objective on Grab from $4.30 to $4.70 and gave the company an “overweight” rating in a research report on Wednesday, May 22nd. Deutsche Bank Aktiengesellschaft started coverage on Grab in a research report on Friday, May 17th. They set a “buy” rating and a $4.50 price objective on the stock. Benchmark reaffirmed a “buy” rating and set a $6.00 price objective on shares of Grab in a research report on Thursday, May 16th. Finally, Mizuho started coverage on Grab in a research report on Thursday, June 27th. They set an “outperform” rating and a $5.00 price objective on the stock. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Grab currently has a consensus rating of “Buy” and a consensus target price of $5.06.

Grab Trading Down 0.8 %

Shares of NASDAQ:GRAB opened at $3.50 on Wednesday. The stock has a market capitalization of $13.73 billion, a price-to-earnings ratio of -49.99 and a beta of 0.81. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.22 and a current ratio of 3.26. The stock’s 50-day simple moving average is $3.59 and its two-hundred day simple moving average is $3.36. Grab Holdings Limited has a 52-week low of $2.90 and a 52-week high of $3.92.

Grab (NASDAQ:GRAB) last announced its earnings results on Wednesday, May 15th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.02). The firm had revenue of $653.00 million during the quarter, compared to analysts’ expectations of $662.48 million. Grab had a negative return on equity of 4.62% and a negative net margin of 11.86%. Analysts expect that Grab Holdings Limited will post -0.01 EPS for the current year.

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.