Swedbank AB Boosts Stock Position in Grab Holdings Limited $GRAB

Swedbank AB raised its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 927.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 561,954 shares of the company’s stock after acquiring an additional 507,278 shares during the quarter. Swedbank AB’s holdings in Grab were worth $3,383,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in GRAB. Centurion Wealth Management LLC boosted its stake in shares of Grab by 4.4% during the third quarter. Centurion Wealth Management LLC now owns 48,764 shares of the company’s stock valued at $294,000 after purchasing an additional 2,049 shares during the period. Pitcairn Co. boosted its position in Grab by 11.0% in the 2nd quarter. Pitcairn Co. now owns 20,964 shares of the company’s stock valued at $105,000 after buying an additional 2,080 shares during the period. J2 Capital Management Inc grew its stake in Grab by 21.5% in the 2nd quarter. J2 Capital Management Inc now owns 12,189 shares of the company’s stock worth $61,000 after acquiring an additional 2,155 shares in the last quarter. Sowell Financial Services LLC grew its stake in Grab by 18.8% in the 2nd quarter. Sowell Financial Services LLC now owns 13,953 shares of the company’s stock worth $70,000 after acquiring an additional 2,206 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in shares of Grab by 7.7% during the second quarter. Thrivent Financial for Lutherans now owns 32,099 shares of the company’s stock worth $161,000 after acquiring an additional 2,300 shares during the period. 55.52% of the stock is currently owned by institutional investors.

Grab Trading Up 0.4%

GRAB opened at $5.15 on Friday. The firm has a market cap of $20.74 billion, a price-to-earnings ratio of 128.78 and a beta of 0.89. The company has a current ratio of 1.83, a quick ratio of 1.81 and a debt-to-equity ratio of 0.05. Grab Holdings Limited has a 12 month low of $3.36 and a 12 month high of $6.62. The stock has a fifty day moving average price of $5.41 and a 200-day moving average price of $5.35.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The company had revenue of $873.00 million for the quarter, compared to the consensus estimate of $870.44 million. Grab had a net margin of 3.81% and a return on equity of 1.91%. As a group, equities research analysts anticipate that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GRAB. Barclays boosted their price target on Grab from $6.50 to $7.00 and gave the company an “overweight” rating in a report on Tuesday, November 11th. Benchmark upped their target price on Grab from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Weiss Ratings restated a “hold (c-)” rating on shares of Grab in a research note on Wednesday, October 8th. Jefferies Financial Group restated a “buy” rating and issued a $7.00 price objective on shares of Grab in a report on Tuesday, November 4th. Finally, Mizuho set a $7.00 target price on shares of Grab in a report on Tuesday, November 4th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $6.37.

About Grab

Grab Holdings Inc is a Singapore-based technology company that operates a consumer-facing “super app” across Southeast Asia offering services spanning ride-hailing, food and package delivery, and digital payments. Its platform connects consumers, drivers, merchants and delivery partners through mobile applications and supports on-demand mobility (taxi and private car), last-mile logistics, and on-demand food delivery under brands such as GrabFood and GrabExpress. The company has also developed a merchant-facing ecosystem that supports ordering, payment acceptance and loyalty functions.

Beyond transportation and delivery, Grab has expanded into financial services through Grab Financial Group, which provides digital payments via GrabPay, consumer lending, insurance distribution and small-business financial solutions.