NewEdge Wealth LLC Raises Stock Holdings in Grab Holdings Limited (NASDAQ:GRAB)

NewEdge Wealth LLC lifted its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 17.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 124,093 shares of the company’s stock after acquiring an additional 18,094 shares during the period. NewEdge Wealth LLC’s holdings in Grab were worth $418,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Lake Street Advisors Group LLC raised its stake in Grab by 0.4% during the 3rd quarter. Lake Street Advisors Group LLC now owns 696,416 shares of the company’s stock valued at $2,465,000 after acquiring an additional 2,972 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Grab by 1.8% during the second quarter. Dimensional Fund Advisors LP now owns 190,012 shares of the company’s stock worth $652,000 after purchasing an additional 3,295 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Grab by 9.2% during the fourth quarter. Sequoia Financial Advisors LLC now owns 41,821 shares of the company’s stock worth $141,000 after purchasing an additional 3,510 shares during the period. PNC Financial Services Group Inc. grew its position in Grab by 9.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 41,774 shares of the company’s stock valued at $148,000 after buying an additional 3,632 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its stake in Grab by 0.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 668,080 shares of the company’s stock valued at $2,365,000 after buying an additional 4,200 shares during the period. 55.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on GRAB. Barclays reduced their target price on shares of Grab from $4.50 to $4.30 and set an “overweight” rating for the company in a research note on Monday, February 5th. JPMorgan Chase & Co. raised Grab from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $3.60 to $3.80 in a report on Thursday, January 18th. Finally, HSBC reiterated a “buy” rating and set a $4.30 target price on shares of Grab in a research report on Thursday, April 4th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Grab currently has an average rating of “Buy” and an average price target of $5.10.

Grab Stock Down 1.8 %

GRAB stock opened at $3.21 on Thursday. The company has a current ratio of 3.90, a quick ratio of 3.87 and a debt-to-equity ratio of 0.10. The company’s 50-day moving average price is $3.24 and its 200 day moving average price is $3.23. Grab Holdings Limited has a 52 week low of $2.67 and a 52 week high of $3.92. The company has a market cap of $12.59 billion, a P/E ratio of -32.10 and a beta of 0.91.

Grab (NASDAQ:GRAB) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.03. The business had revenue of $653.00 million for the quarter, compared to analyst estimates of $633.82 million. Grab had a negative return on equity of 6.77% and a negative net margin of 18.43%. The company’s quarterly revenue was up 30.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.10) EPS. On average, research analysts expect that Grab Holdings Limited will post 0.01 earnings per share for the current fiscal 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.