Wedbush Securities Inc. Invests $65,000 in Grab Holdings Limited (NASDAQ:GRAB)

Wedbush Securities Inc. bought a new position in Grab Holdings Limited (NASDAQ:GRAB) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,300 shares of the company’s stock, valued at approximately $65,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. raised its holdings in shares of Grab by 3.0% during the fourth quarter. Victory Capital Management Inc. now owns 418,172 shares of the company’s stock valued at $1,409,000 after purchasing an additional 12,171 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Grab by 0.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 944,627 shares of the company’s stock valued at $3,103,000 after purchasing an additional 5,317 shares during the last quarter. Panagora Asset Management Inc. purchased a new position in shares of Grab during the fourth quarter valued at approximately $4,443,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of Grab by 758.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 6,031,759 shares of the company’s stock valued at $20,327,000 after purchasing an additional 5,328,992 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Grab during the fourth quarter valued at approximately $146,995,000. Institutional investors own 55.52% of the company’s stock.

Grab Stock Performance

Shares of NASDAQ GRAB opened at $3.47 on Monday. The firm has a fifty day moving average price of $3.33 and a 200-day moving average price of $3.40. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.00 and a quick ratio of 2.97. The stock has a market cap of $13.61 billion, a PE ratio of -49.57 and a beta of 0.81. Grab Holdings Limited has a 1 year low of $2.90 and a 1 year high of $3.77.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data on Thursday, August 15th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). The firm had revenue of $664.00 million during the quarter, compared to analysts’ expectations of $674.17 million. Grab had a negative net margin of 8.24% and a negative return on equity of 3.35%. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.03) earnings per share. Equities analysts anticipate that Grab Holdings Limited will post -0.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GRAB has been the subject of several research reports. Jefferies Financial Group decreased their price objective on shares of Grab from $5.00 to $4.70 and set a “buy” rating for the company in a report on Wednesday, July 17th. Benchmark reaffirmed a “buy” rating and set a $6.00 target price on shares of Grab in a report on Wednesday, September 11th. Barclays upped 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. Finally, Mizuho started coverage on shares of Grab in a report on Thursday, June 27th. They set an “outperform” rating and a $5.00 target price for the company. Seven 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 price target 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.