Geode Capital Management LLC Has $77.41 Million Position in Grab Holdings Limited (NASDAQ:GRAB)

Geode Capital Management LLC increased its position in shares of Grab Holdings Limited (NASDAQ:GRAB) by 2.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,666,618 shares of the company’s stock after buying an additional 591,898 shares during the quarter. Geode Capital Management LLC’s holdings in Grab were worth $77,414,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in shares of Grab by 53.6% during the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after purchasing an additional 3,408 shares in the last quarter. Sage Rhino Capital LLC acquired a new stake in Grab during the second quarter worth $38,000. Traynor Capital Management Inc. bought a new stake in Grab in the 3rd quarter valued at $41,000. Dorsey & Whitney Trust CO LLC raised its stake in shares of Grab by 37.0% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock valued at $50,000 after buying an additional 3,795 shares in the last quarter. Finally, Glenmede Trust Co. NA bought a new position in shares of Grab during the 3rd quarter worth about $53,000. 55.52% of the stock is currently owned by institutional investors.

Grab Price Performance

GRAB opened at $4.90 on Friday. The company has a fifty day simple moving average of $4.66 and a 200 day simple moving average of $3.88. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. The stock has a market cap of $19.73 billion, a P/E ratio of -245.00 and a beta of 0.90. Grab Holdings Limited has a 12 month low of $2.90 and a 12 month high of $5.72.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Monday, November 11th. The company reported $0.01 EPS for the quarter. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. The company had revenue of $716.00 million for the quarter, compared to analyst estimates of $705.40 million. During the same quarter last year, the firm posted ($0.02) earnings per share. On average, research analysts expect that Grab Holdings Limited will post -0.03 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on GRAB shares. Barclays upped their target price on shares of Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Benchmark reiterated a “buy” rating and issued a $6.00 price objective on shares of Grab in a research note on Tuesday, November 12th. Mizuho raised their target price on Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Bank of America cut Grab from a “buy” rating to an “underperform” rating and set a $4.90 price target on the stock. in a research report on Friday, November 22nd. Finally, Daiwa Capital Markets started coverage on Grab in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $5.53.

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.