Bank of Nova Scotia purchased a new stake in shares of Grab Holdings Limited (NASDAQ:GRAB–Get Rating) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 56,300 shares of the company’s stock, valued at approximately $197,000.
Other large investors have also added to or reduced their stakes in the company. SB Investment Advisers UK Ltd. acquired a new position in Grab during the 4th quarter worth $4,985,119,000. Mufg Bank LTD. acquired a new position in Grab during the 4th quarter worth $1,373,168,000. Capital Research Global Investors acquired a new position in Grab during the 4th quarter worth $504,301,000. Invesco Ltd. acquired a new position in Grab during the 4th quarter worth $317,176,000. Finally, Capital International Investors acquired a new position in Grab during the 4th quarter worth $131,126,000. 46.25% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on GRAB shares. HSBC reduced their price target on shares of Grab from $7.50 to $4.75 and set a “buy” rating on the stock in a research report on Monday, May 23rd. KGI Securities started coverage on shares of Grab in a research report on Monday, June 6th. They issued a “neutral” rating on the stock. Sanford C. Bernstein upgraded shares of Grab from a “market perform” rating to an “outperform” rating and set a $3.04 price target on the stock in a research report on Tuesday, May 31st. Deutsche Bank Aktiengesellschaft started coverage on shares of Grab in a research report on Friday, June 17th. They issued a “buy” rating and a $3.20 price target on the stock. Finally, JPMorgan Chase & Co. downgraded shares of Grab from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $3.00 to $3.80 in a research report on Monday, August 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Grab has a consensus rating of “Moderate Buy” and a consensus price target of $5.55.
GRAB stockopened at $3.44 on Friday. The firm’s 50-day moving average is $2.90 and its two-hundred day moving average is $3.38. The company has a debt-to-equity ratio of 0.27, a quick ratio of 8.03 and a current ratio of 8.07. Grab Holdings Limited has a 52 week low of $2.26 and a 52 week high of $13.29.
Grab (NASDAQ:GRAB–Get Rating) last announced its quarterly earnings data on Thursday, May 19th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). The business had revenue of $228.00 million during the quarter, compared to analyst estimates of $134.87 million. Equities research analysts expect that Grab Holdings Limited will post -0.33 EPS for the current fiscal year.
Grab Company Profile
(Get Rating)
Grab Holdings Limited provides superapps that allows access to mobility, delivery, financial services, and enterprise offerings through its mobile application in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The company is headquartered in Singapore.$Grab Holdings(GRAB)$
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