Public Employees Retirement Association of Colorado Decreases Stake in Grab Holdings Limited (NASDAQ:GRAB)

Public Employees Retirement Association of Colorado lessened its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 2.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 404,987 shares of the company’s stock after selling 11,200 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Grab were worth $1,438,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Congress Wealth Management LLC DE grew its position in shares of Grab by 105.0% in the fourth quarter. Congress Wealth Management LLC DE now owns 81,447 shares of the company’s stock valued at $274,000 after purchasing an additional 41,711 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of Grab by 594.7% in the 4th quarter. Hsbc Holdings PLC now owns 3,274,541 shares of the company’s stock worth $11,028,000 after acquiring an additional 3,936,451 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Grab by 11.3% during the 4th quarter. Artisan Partners Limited Partnership now owns 24,894,289 shares of the company’s stock worth $83,894,000 after acquiring an additional 2,523,484 shares during the period. TD Asset Management Inc boosted its position in shares of Grab by 2.8% during the 4th quarter. TD Asset Management Inc now owns 390,966 shares of the company’s stock valued at $1,318,000 after acquiring an additional 10,646 shares during the last quarter. Finally, Capstone Investment Advisors LLC grew its holdings in shares of Grab by 580.9% in the fourth quarter. Capstone Investment Advisors LLC now owns 221,968 shares of the company’s stock valued at $748,000 after purchasing an additional 189,370 shares during the period. Institutional investors and hedge funds own 55.52% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on GRAB. Mizuho started coverage on shares of Grab in a research note on Thursday, June 27th. They set an “outperform” rating and a $5.00 target price on the stock. Jefferies Financial Group decreased their price objective on Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Finally, Benchmark reiterated a “buy” rating and issued a $6.00 price objective on shares of Grab in a research report on Wednesday, September 11th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $4.71.

Grab Stock Performance

Shares of GRAB stock opened at $3.70 on Wednesday. Grab Holdings Limited has a one year low of $2.90 and a one year high of $3.77. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.97 and a current ratio of 3.00. The firm’s 50 day moving average price is $3.34 and its 200-day moving average price is $3.42. The firm has a market cap of $14.52 billion, a P/E ratio of -52.86 and a beta of 0.81.

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