CIBC Asset Management Inc Increases Stock Holdings in Grab Holdings Limited (NASDAQ:GRAB)

CIBC Asset Management Inc increased its position in shares of Grab Holdings Limited (NASDAQ:GRAB) by 15.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 194,435 shares of the company’s stock after acquiring an additional 26,042 shares during the quarter. CIBC Asset Management Inc’s holdings in Grab were worth $690,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GRAB. Sage Rhino Capital LLC purchased a new stake in shares of Grab during the 2nd quarter valued at approximately $38,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Grab by 35.4% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 221,973 shares of the company’s stock valued at $788,000 after purchasing an additional 58,053 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Grab by 9.0% in the 2nd quarter. Principal Financial Group Inc. now owns 144,649 shares of the company’s stock valued at $514,000 after purchasing an additional 11,987 shares during the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Grab by 13.2% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,222,998 shares of the company’s stock worth $4,342,000 after purchasing an additional 142,889 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Grab by 31.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 958,770 shares of the company’s stock worth $3,404,000 after purchasing an additional 230,681 shares during the period. 55.52% of the stock is owned by hedge funds and other institutional investors.

Grab Stock Down 1.5 %

Shares of NASDAQ GRAB opened at $3.29 on Friday. The stock has a market cap of $12.91 billion, a P/E ratio of -47.00 and a beta of 0.81. The business’s fifty day simple moving average is $3.34 and its 200-day simple moving average is $3.39. Grab Holdings Limited has a 12-month low of $2.90 and a 12-month high of $3.82. The company has a current ratio of 3.00, a quick ratio of 2.97 and a debt-to-equity ratio of 0.03.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Thursday, August 15th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). The company had revenue of $664.00 million for the quarter, compared to the consensus estimate of $674.17 million. Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. Grab’s revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.03) EPS. As a group, equities analysts predict that Grab Holdings Limited will post -0.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GRAB has been the topic of several research analyst reports. Jefferies Financial Group reduced their price objective on shares of Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Benchmark restated a “buy” rating and issued a $6.00 price objective on shares of Grab in a report on Monday, August 19th. Barclays lifted their target price on shares of Grab from $4.30 to $4.70 and gave the company an “overweight” rating in a report on Wednesday, May 22nd. Mizuho assumed coverage on Grab in a research note on Thursday, June 27th. They set an “outperform” rating and a $5.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Grab in a research note on Friday, May 17th. They issued a “buy” rating and a $4.50 price objective for the company. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, Grab presently has a consensus rating of “Buy” and an average target price of $4.71.

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.