HighTower Advisors LLC Acquires 14,759 Shares of Grab Holdings Limited (NASDAQ:GRAB)

HighTower Advisors LLC grew its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 87.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,546 shares of the company’s stock after purchasing an additional 14,759 shares during the quarter. HighTower Advisors LLC’s holdings in Grab were worth $119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in GRAB. Blue Trust Inc. grew its holdings in Grab by 53.6% in the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after purchasing an additional 3,408 shares during the period. Sage Rhino Capital LLC bought a new position in shares of Grab during the 2nd quarter worth about $38,000. Traynor Capital Management Inc. acquired a new stake in shares of Grab in the 3rd quarter valued at about $41,000. Dorsey & Whitney Trust CO LLC increased its position in 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 acquired a new position in Grab during the 3rd quarter worth approximately $53,000. Institutional investors own 55.52% of the company’s stock.

Analyst Ratings Changes

GRAB has been the subject of several recent research reports. Bank of America downgraded Grab from a “buy” rating to an “underperform” rating and set a $4.90 price objective for the company. in a report on Friday, November 22nd. Daiwa Capital Markets assumed coverage on shares of Grab in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price target for the company. Barclays upped their price objective on shares of Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Evercore ISI lifted their price objective on shares of Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Finally, Mizuho upped their target price on shares of Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $5.53.

Grab Price Performance

Grab stock opened at $4.96 on Friday. Grab Holdings Limited has a 52 week low of $2.90 and a 52 week high of $5.72. The company’s 50 day moving average price is $4.79 and its two-hundred day moving average price is $3.93. The stock has a market cap of $19.97 billion, a P/E ratio of -248.00 and a beta of 0.90. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04.

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