AQR Capital Management LLC Has $59.81 Million Holdings in Grab Holdings Limited (NASDAQ:GRAB)

AQR Capital Management LLC increased its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 29.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,872,014 shares of the company’s stock after acquiring an additional 3,812,994 shares during the period. AQR Capital Management LLC’s holdings in Grab were worth $59,811,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC raised its stake in shares of Grab by 8.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 40,185 shares of the company’s stock valued at $143,000 after purchasing an additional 3,020 shares during the period. Dorsey & Whitney Trust CO LLC grew its holdings in shares of Grab by 37.0% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock worth $50,000 after buying an additional 3,795 shares in the last quarter. Cigna Investments Inc. New raised its position in Grab by 12.9% in the 2nd quarter. Cigna Investments Inc. New now owns 40,269 shares of the company’s stock valued at $143,000 after buying an additional 4,595 shares during the last quarter. Lake Street Advisors Group LLC lifted its stake in Grab by 0.7% in the 2nd quarter. Lake Street Advisors Group LLC now owns 700,455 shares of the company’s stock valued at $2,487,000 after acquiring an additional 5,131 shares in the last quarter. Finally, Forsta AP Fonden boosted its position in Grab by 1.1% during the 1st quarter. Forsta AP Fonden now owns 552,100 shares of the company’s stock worth $1,734,000 after acquiring an additional 6,100 shares during the last quarter. 55.52% of the stock is owned by institutional investors.

Grab Stock Up 1.3 %

Grab stock opened at $3.85 on Friday. Grab Holdings Limited has a fifty-two week low of $2.90 and a fifty-two week high of $3.88. The firm has a market capitalization of $15.10 billion, a PE ratio of -55.00 and a beta of 0.81. The company’s 50-day moving average is $3.36 and its 200-day moving average is $3.43. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.00 and a quick ratio of 2.97.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Thursday, August 15th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. The firm had revenue of $664.00 million for the quarter, compared to analyst estimates of $674.17 million. During the same quarter in the prior year, the company earned ($0.03) earnings per share. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. Sell-side analysts anticipate that Grab Holdings Limited will post -0.01 earnings per share for the current year.

Analysts Set New Price Targets

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

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.