Amundi Raises Stock Holdings in Grab Holdings Limited (NASDAQ:GRAB)

Amundi lifted its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 12.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,655,852 shares of the company’s stock after purchasing an additional 184,208 shares during the quarter. Amundi’s holdings in Grab were worth $7,667,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Global Retirement Partners LLC purchased a new stake in Grab during the 4th quarter valued at approximately $30,000. SeaBridge Investment Advisors LLC purchased a new stake in shares of Grab during the fourth quarter worth approximately $48,000. New York Life Investment Management LLC acquired a new stake in shares of Grab during the fourth quarter worth $48,000. Atria Wealth Solutions Inc. acquired a new position in Grab in the 4th quarter valued at $49,000. Finally, Sanctuary Advisors LLC acquired a new position in Grab in the 4th quarter valued at $50,000. 55.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GRAB. Bank of America raised shares of Grab from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $4.90 to $5.10 in a report on Tuesday, January 7th. Hsbc Global Res upgraded Grab from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. raised Grab from a “neutral” rating to an “overweight” rating and set a $5.60 price target for the company in a report on Friday, February 21st. China Renaissance lowered Grab from a “buy” rating to a “hold” rating and set a $5.40 price objective on the stock. in a report on Thursday, November 21st. Finally, HSBC raised Grab from a “hold” rating to a “buy” rating and reduced their target price for the company from $5.50 to $5.45 in a report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Grab currently has a consensus rating of “Moderate Buy” and an average target price of $5.62.

Grab Stock Up 3.3 %

Shares of NASDAQ GRAB opened at $4.40 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67. The firm’s 50-day moving average is $4.67 and its two-hundred day moving average is $4.43. Grab Holdings Limited has a 12-month low of $2.98 and a 12-month high of $5.72. The company has a market capitalization of $17.72 billion, a PE ratio of -220.00, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. The company had revenue of $764.00 million during the quarter, compared to the consensus estimate of $762.57 million. Equities analysts anticipate that Grab Holdings Limited will post 0.05 EPS for the current fiscal year.

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.