Maverick Capital Ltd. Increases Position in Grab Holdings Limited (NASDAQ:GRAB)

Maverick Capital Ltd. increased its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 241.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 440,585 shares of the company’s stock after buying an additional 311,460 shares during the quarter. Maverick Capital Ltd.’s holdings in Grab were worth $1,564,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. purchased a new position in shares of Grab in the 2nd quarter valued at approximately $166,587,000. Coronation Fund Managers Ltd. lifted its holdings in shares of Grab by 116.3% during the first quarter. Coronation Fund Managers Ltd. now owns 35,042,039 shares of the company’s stock worth $110,032,000 after purchasing an additional 18,839,407 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Grab in the 1st quarter valued at $52,920,000. Point72 Asset Management L.P. acquired a new position in Grab in the 2nd quarter valued at $57,696,000. Finally, Marshall Wace LLP raised its position in Grab by 39.7% during the 2nd quarter. Marshall Wace LLP now owns 30,405,993 shares of the company’s stock worth $107,941,000 after buying an additional 8,635,310 shares during the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Trading Up 1.3 %

Shares of Grab stock opened at $3.85 on Friday. The company has a 50-day moving average of $3.36 and a two-hundred day moving average of $3.43. The stock has a market cap of $15.10 billion, a PE ratio of -55.00 and a beta of 0.81. 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 Holdings Limited has a 12-month low of $2.90 and a 12-month high of $3.88.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Thursday, August 15th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate 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 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 period in the previous year, the firm posted ($0.03) earnings per share. On average, research analysts anticipate that Grab Holdings Limited will post -0.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on GRAB shares. Mizuho initiated coverage on shares of Grab in a report on Thursday, June 27th. They issued an “outperform” rating and a $5.00 target price on the stock. Benchmark reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Grab in a report on Wednesday, September 11th. Finally, Jefferies Financial Group cut their target price on Grab from $5.00 to $4.70 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Grab 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.