Bank Pictet & Cie Europe AG Takes Position in Grab Holdings Limited $GRAB

Bank Pictet & Cie Europe AG bought a new position in shares of Grab Holdings Limited (NASDAQ:GRAB) during the 3rd quarter, HoldingsChannel reports. The fund bought 152,640 shares of the company’s stock, valued at approximately $919,000.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in Grab during the second quarter worth about $175,192,000. PointState Capital LP raised its position in shares of Grab by 50.6% in the 1st quarter. PointState Capital LP now owns 35,148,819 shares of the company’s stock valued at $159,224,000 after buying an additional 11,804,514 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Grab by 20.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 60,455,589 shares of the company’s stock valued at $304,092,000 after buying an additional 10,428,014 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Grab by 70.0% during the 2nd quarter. William Blair Investment Management LLC now owns 21,150,368 shares of the company’s stock worth $106,386,000 after acquiring an additional 8,707,738 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Grab by 11.8% during the 2nd quarter. Invesco Ltd. now owns 63,881,785 shares of the company’s stock worth $321,325,000 after acquiring an additional 6,767,182 shares in the last quarter. Institutional investors own 55.52% of the company’s stock.

Grab Stock Down 1.6%

Shares of GRAB opened at $4.99 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.81 and a current ratio of 1.83. Grab Holdings Limited has a 52 week low of $3.36 and a 52 week high of $6.62. The stock has a market capitalization of $20.09 billion, a price-to-earnings ratio of 124.78 and a beta of 0.90. The stock has a fifty day moving average of $5.36 and a 200-day moving average of $5.35.

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

Analysts Set New Price Targets

Several research analysts have commented on GRAB shares. Wall Street Zen downgraded shares of Grab from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Jefferies Financial Group reiterated a “buy” rating and issued a $7.00 price target on shares of Grab in a research note on Tuesday, November 4th. Barclays upped their price objective on Grab from $6.50 to $7.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Grab in a research report on Wednesday, October 8th. Finally, HSBC reissued a “hold” rating and set a $6.20 target price on shares of Grab in a research note on Wednesday, September 17th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.37.

Grab Company Profile

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.