TD Asset Management Inc Acquires 83,096 Shares of Grab Holdings Limited (NASDAQ:GRAB)

TD Asset Management Inc grew its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 16.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 594,362 shares of the company’s stock after purchasing an additional 83,096 shares during the quarter. TD Asset Management Inc’s holdings in Grab were worth $2,110,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC boosted its holdings in shares of Grab by 8.1% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 40,185 shares of the company’s stock worth $143,000 after buying an additional 3,020 shares during the period. Cigna Investments Inc. New boosted its holdings in shares of Grab by 12.9% during the 2nd quarter. Cigna Investments Inc. New now owns 40,269 shares of the company’s stock worth $143,000 after buying an additional 4,595 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Grab by 0.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 944,627 shares of the company’s stock worth $3,103,000 after buying an additional 5,317 shares during the period. Forsta AP Fonden boosted its holdings in shares of Grab by 1.1% during the 1st quarter. Forsta AP Fonden now owns 552,100 shares of the company’s stock worth $1,734,000 after buying an additional 6,100 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Grab by 32.2% during the 1st quarter. Advisors Asset Management Inc. now owns 29,739 shares of the company’s stock worth $93,000 after buying an additional 7,239 shares during the period. 55.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GRAB has been the subject of a number of research reports. Barclays increased their price target on shares of Grab from $4.30 to $4.70 and gave the company an “overweight” rating in a report on Wednesday, May 22nd. Jefferies Financial Group reduced their price target on shares of Grab from $5.00 to $4.70 and set a “buy” rating for the company in a report on Wednesday, July 17th. Mizuho initiated coverage on shares of Grab in a report on Thursday, June 27th. They issued an “outperform” rating and a $5.00 price target for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of Grab in a report on Friday, May 17th. They issued a “buy” rating and a $4.50 price target for the company. Finally, Benchmark restated a “buy” rating and issued a $6.00 price objective on shares of Grab in a research note on Wednesday. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Grab presently has a consensus rating of “Buy” and a consensus target price of $4.71.

Grab Trading Up 0.6 %

Shares of Grab stock opened at $3.47 on Friday. The stock has a market capitalization of $13.61 billion, a P/E ratio of -49.56 and a beta of 0.81. The company has a quick ratio of 2.97, a current ratio of 3.00 and a debt-to-equity ratio of 0.03. The company has a 50-day simple moving average of $3.33 and a 200 day simple moving average of $3.39. Grab Holdings Limited has a 12-month low of $2.90 and a 12-month high of $3.77.

Grab (NASDAQ:GRAB) last announced its earnings results on Thursday, August 15th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). The business had revenue of $664.00 million during the quarter, compared to analysts’ expectations of $674.17 million. Grab had a negative net margin of 8.24% and a negative return on equity of 3.35%. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.03) EPS. 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.