First Trust Direct Indexing L.P. Has $70,000 Holdings in Grab Holdings Limited (NASDAQ:GRAB)

First Trust Direct Indexing L.P. boosted its position in Grab Holdings Limited (NASDAQ:GRAB) by 34.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,435 shares of the company’s stock after buying an additional 4,725 shares during the period. First Trust Direct Indexing L.P.’s holdings in Grab were worth $70,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Baillie Gifford & Co. bought a new position in shares of Grab in the 2nd quarter worth about $166,587,000. Point72 Asset Management L.P. bought a new stake in Grab in the second quarter worth approximately $57,696,000. Coronation Fund Managers Ltd. lifted its stake in Grab by 29.7% in the second quarter. Coronation Fund Managers Ltd. now owns 45,452,613 shares of the company’s stock valued at $161,357,000 after buying an additional 10,410,574 shares during the period. Marshall Wace LLP boosted its holdings in shares of Grab by 39.7% during the 2nd quarter. Marshall Wace LLP now owns 30,405,993 shares of the company’s stock worth $107,941,000 after buying an additional 8,635,310 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Grab by 129.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,078,843 shares of the company’s stock worth $30,700,000 after buying an additional 4,557,800 shares during the period. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Stock Up 0.7 %

Grab stock opened at $4.22 on Thursday. The firm has a market capitalization of $16.56 billion, a price-to-earnings ratio of -83.80 and a beta of 0.81. The firm’s fifty day moving average price is $3.69 and its two-hundred day moving average price is $3.56. Grab Holdings Limited has a 1-year low of $2.90 and a 1-year high of $4.32. The company has a current ratio of 3.00, a quick ratio of 2.97 and a debt-to-equity ratio of 0.03.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Thursday, August 15th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). The business had revenue of $664.00 million during the quarter, compared to the consensus estimate of $674.17 million. Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. The company’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.03) EPS. On average, equities research analysts predict that Grab Holdings Limited will post -0.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GRAB. Jefferies Financial Group dropped their target price on shares of Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Benchmark reiterated a “buy” rating and set a $6.00 price objective on shares of Grab in a report on Wednesday, September 11th. Finally, Daiwa Capital Markets initiated coverage on shares of Grab in a research report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price objective on the stock. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Grab presently has a consensus rating of “Buy” and an average target price of $4.70.

Grab Company 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.