Hsbc Holdings PLC Has $13.06 Million Stake in Grab Holdings Limited (NASDAQ:GRAB)

Hsbc Holdings PLC lifted its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 38.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,677,847 shares of the company’s stock after acquiring an additional 1,022,991 shares during the quarter. Hsbc Holdings PLC owned approximately 0.09% of Grab worth $13,056,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Grab by 31.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 104,751 shares of the company’s stock worth $372,000 after purchasing an additional 25,167 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Grab by 168.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 221,135 shares of the company’s stock worth $785,000 after buying an additional 138,620 shares in the last quarter. Lyell Wealth Management LP grew its holdings in Grab by 33.3% during the 2nd quarter. Lyell Wealth Management LP now owns 40,000 shares of the company’s stock worth $142,000 after acquiring an additional 10,000 shares during the last quarter. Dai ichi Life Insurance Company Ltd raised its stake in shares of Grab by 9.0% in the second quarter. Dai ichi Life Insurance Company Ltd now owns 108,679 shares of the company’s stock worth $386,000 after acquiring an additional 9,000 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Grab by 23.9% in the second quarter. Federated Hermes Inc. now owns 907,985 shares of the company’s stock worth $3,223,000 after acquiring an additional 175,065 shares during the last quarter. 55.52% of the stock is currently owned by institutional investors.

Grab Stock Performance

Shares of Grab stock opened at $3.64 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.97 and a current ratio of 3.00. Grab Holdings Limited has a 52 week low of $2.90 and a 52 week high of $3.77. The firm has a fifty day moving average of $3.34 and a two-hundred day moving average of $3.41. The stock has a market capitalization of $14.28 billion, a price-to-earnings ratio of -52.00 and a beta of 0.81.

Grab (NASDAQ:GRAB) last issued its earnings results 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 for the quarter, compared to analysts’ expectations of $674.17 million. Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. The company’s revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.03) earnings per share. As a group, equities research analysts predict that Grab Holdings Limited will post -0.01 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GRAB. Jefferies Financial Group lowered their price target 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 restated a “buy” rating and set a $6.00 target price on shares of Grab in a research report on Wednesday, September 11th. Finally, Mizuho started 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. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Grab has a consensus rating of “Buy” and an average target price of $4.71.

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.