Grab Holdings Limited (NASDAQ:GRAB) Stock Position Boosted by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 2.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,666,618 shares of the company’s stock after buying an additional 591,898 shares during the quarter. Geode Capital Management LLC owned about 0.53% of Grab worth $77,414,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. M&T Bank Corp raised its holdings in Grab by 1.7% during the third quarter. M&T Bank Corp now owns 335,179 shares of the company’s stock worth $1,274,000 after purchasing an additional 5,545 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Grab during the 3rd quarter valued at $696,000. Nomura Asset Management Co. Ltd. raised its stake in shares of Grab by 1.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 583,500 shares of the company’s stock worth $2,217,000 after buying an additional 9,600 shares in the last quarter. XTX Topco Ltd lifted its holdings in shares of Grab by 265.5% in the third quarter. XTX Topco Ltd now owns 112,274 shares of the company’s stock valued at $427,000 after buying an additional 81,558 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Grab by 13.4% during the third quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock valued at $472,394,000 after buying an additional 14,671,388 shares in the last quarter. 55.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on GRAB. China Renaissance cut shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 price target on the stock. in a research report on Thursday, November 21st. JPMorgan Chase & Co. boosted their target price on shares of Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Evercore ISI raised their target price on shares of Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Barclays upped their price target on Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, Benchmark reiterated a “buy” rating and set a $6.00 price objective on shares of Grab in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $5.53.

Grab Stock Down 0.4 %

Shares of Grab stock opened at $4.90 on Friday. Grab Holdings Limited has a 12-month low of $2.90 and a 12-month high of $5.72. The stock has a market capitalization of $19.73 billion, a P/E ratio of -245.00 and a beta of 0.90. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average price of $4.66 and a two-hundred day moving average price of $3.88.

Grab (NASDAQ:GRAB) last posted its quarterly earnings data on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. The business had revenue of $716.00 million during the quarter, compared to analysts’ expectations of $705.40 million. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. During the same quarter in the previous year, the firm earned ($0.02) EPS. Equities analysts expect that Grab Holdings Limited will post -0.03 earnings per share for the current year.

About Grab

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.