Acadian Asset Management LLC Purchases 48,839 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Acadian Asset Management LLC raised its position in Grab Holdings Limited (NASDAQ:GRAB) by 69.7% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 118,927 shares of the company’s stock after acquiring an additional 48,839 shares during the period. Acadian Asset Management LLC’s holdings in Grab were worth $420,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Baillie Gifford & Co. acquired a new position in Grab during the second quarter worth $166,587,000. Norges Bank acquired a new position in shares of Grab during the 4th quarter worth about $146,995,000. Coronation Fund Managers Ltd. grew its holdings in shares of Grab by 116.3% in the 1st quarter. Coronation Fund Managers Ltd. now owns 35,042,039 shares of the company’s stock valued at $110,032,000 after acquiring an additional 18,839,407 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Grab in the first quarter valued at about $52,920,000. Finally, WCM Investment Management LLC bought a new stake in Grab during the first quarter worth about $31,955,000. Institutional investors and hedge funds own 55.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GRAB shares. Benchmark restated a “buy” rating and issued a $6.00 price target on shares of Grab in a research note on Wednesday, September 11th. 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 on the stock. Barclays increased their price target on shares of Grab from $4.30 to $4.70 and gave the company an “overweight” rating in a research note on Wednesday, May 22nd. Finally, Jefferies Financial Group lowered their price objective on shares of Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $4.71.

Grab Stock Performance

NASDAQ GRAB opened at $3.66 on Thursday. The stock has a market cap of $14.36 billion, a PE ratio of -52.29 and a beta of 0.81. 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 50-day moving average of $3.33 and a 200-day moving average of $3.40.

Grab (NASDAQ:GRAB) last posted its earnings results on Thursday, August 15th. The company reported ($0.01) EPS for the quarter, meeting 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%. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.03) earnings per share. On average, sell-side analysts anticipate that Grab Holdings Limited will post -0.01 EPS for the current year.

About Grab

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.