Canada Pension Plan Investment Board decreased its position in shares of Grab Holdings Limited (NASDAQ:GRAB – Free Report) by 89.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 259,370 shares of the company’s stock after selling 2,228,900 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Grab were worth $921,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Baillie Gifford & Co. bought a new position in Grab in the 2nd quarter valued at approximately $166,587,000. Coronation Fund Managers Ltd. increased its holdings in Grab by 116.3% in the 1st quarter. Coronation Fund Managers Ltd. now owns 35,042,039 shares of the company’s stock worth $110,032,000 after buying an additional 18,839,407 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Grab in the 1st quarter worth about $52,920,000. Wellington Management Group LLP lifted its stake in Grab by 21,347.2% during the 4th quarter. Wellington Management Group LLP now owns 6,724,121 shares of the company’s stock valued at $22,660,000 after acquiring an additional 6,692,769 shares during the period. Finally, Jupiter Asset Management Ltd. lifted its stake in Grab by 69.5% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 9,759,357 shares of the company’s stock valued at $34,646,000 after acquiring an additional 4,000,600 shares during the period. Institutional investors own 55.52% of the company’s stock.
Grab Stock Up 1.3 %
GRAB stock opened at $3.85 on Friday. The business’s 50-day moving average price is $3.36 and its 200-day moving average price is $3.43. The stock has a market cap of $15.10 billion, a P/E ratio of -55.00 and a beta of 0.81. The company has a quick ratio of 2.97, a current ratio of 3.00 and a debt-to-equity ratio of 0.03. Grab Holdings Limited has a twelve month low of $2.90 and a twelve month high of $3.88.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on GRAB. Benchmark reiterated a “buy” rating and set a $6.00 target price on shares of Grab in a research note on Wednesday, September 11th. Jefferies Financial Group dropped their target price on Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Finally, Mizuho assumed coverage on shares of Grab in a research report on Thursday, June 27th. They set an “outperform” rating and a $5.00 price target for the company. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $4.71.
Get Our Latest Analysis on GRAB
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.
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