State Street Corp grew its position in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 2.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 43,570,388 shares of the company's stock after acquiring an additional 967,233 shares during the quarter. State Street Corp owned about 1.11% of Grab worth $165,567,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its position in shares of Grab by 18.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company's stock valued at $76,924,000 after acquiring an additional 3,163,309 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Grab during the 3rd quarter valued at approximately $22,434,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Grab during the 3rd quarter valued at approximately $2,757,000. Caz Investments LP boosted its position in shares of Grab by 100.0% during the 3rd quarter. Caz Investments LP now owns 3,700,232 shares of the company's stock valued at $13,598,000 after acquiring an additional 1,850,116 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its position in shares of Grab by 24.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 1,095,005 shares of the company's stock valued at $4,161,000 after acquiring an additional 211,800 shares during the last quarter. 55.52% of the stock is currently owned by institutional investors.
A number of research analysts have recently commented on GRAB shares. HSBC downgraded Grab from a "buy" rating to a "hold" rating and increased their target price for the company from $4.25 to $5.50 in a research report on Thursday, December 5th. Barclays increased 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. Evercore ISI increased their price target on Grab from $7.00 to $8.00 and gave the company an "outperform" rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. increased their price target on Grab from $5.00 to $5.70 and gave the company an "overweight" rating in a report on Tuesday, November 12th. Finally, Hsbc Global Res lowered Grab from a "strong-buy" rating to a "hold" rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $5.53.
Read Our Latest Research Report on Grab
GRAB stock opened at $5.13 on Friday. 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 business's fifty day simple moving average is $4.55 and its two-hundred day simple moving average is $3.85. Grab Holdings Limited has a twelve month low of $2.90 and a twelve month high of $5.72. The firm has a market cap of $20.66 billion, a price-to-earnings ratio of -256.50 and a beta of 0.90.
Grab (NASDAQ:GRAB - Get Free Report) last announced its quarterly earnings results on Monday, November 11th. The company reported $0.01 EPS for the quarter. The firm had revenue of $716.00 million for the quarter, compared to analyst estimates 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 last year, the firm posted ($0.02) earnings per share. Analysts predict that Grab Holdings Limited will post -0.03 earnings per share for the current year.
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.
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