PNC Financial Services Group Inc. Has $188,000 Stock Holdings in Grab Holdings Limited (NASDAQ:GRAB)

PNC Financial Services Group Inc. raised its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 33.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 55,789 shares of the company’s stock after buying an additional 14,015 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Grab were worth $188,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its position in Grab by 7.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,159,898 shares of the company’s stock worth $4,106,000 after acquiring an additional 83,740 shares during the period. Rhumbline Advisers raised its position in shares of Grab by 23.7% during the third quarter. Rhumbline Advisers now owns 685,978 shares of the company’s stock valued at $2,428,000 after buying an additional 131,513 shares during the last quarter. FMR LLC lifted its stake in shares of Grab by 2,898.6% in the third quarter. FMR LLC now owns 4,581,183 shares of the company’s stock valued at $16,217,000 after buying an additional 4,428,407 shares during the period. Northern Trust Corp lifted its stake in shares of Grab by 0.4% in the third quarter. Northern Trust Corp now owns 7,490,420 shares of the company’s stock valued at $26,516,000 after buying an additional 26,577 shares during the period. Finally, Bank of Nova Scotia grew its position in Grab by 48.9% during the third quarter. Bank of Nova Scotia now owns 95,148 shares of the company’s stock worth $337,000 after buying an additional 31,248 shares in the last quarter. 55.52% of the stock is owned by institutional investors.

Grab Price Performance

Shares of Grab stock opened at $3.50 on Wednesday. Grab Holdings Limited has a 1-year low of $2.90 and a 1-year high of $3.92. The firm’s 50-day moving average price is $3.59 and its two-hundred day moving average price is $3.36. The company has a current ratio of 3.26, a quick ratio of 3.22 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $13.73 billion, a price-to-earnings ratio of -49.99 and a beta of 0.81.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Wednesday, May 15th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). The business had revenue of $653.00 million for the quarter, compared to analyst estimates of $662.48 million. Grab had a negative net margin of 11.86% and a negative return on equity of 4.62%. On average, equities analysts predict that Grab Holdings Limited will post -0.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GRAB has been the subject of a number of research reports. Barclays raised their price objective on Grab from $4.30 to $4.70 and gave the stock an “overweight” rating in a research report on Wednesday, May 22nd. Mizuho initiated coverage on shares of Grab in a research note on Thursday, June 27th. They set an “outperform” rating and a $5.00 price target on the stock. Benchmark restated a “buy” rating and issued a $6.00 price objective on shares of Grab in a research note on Thursday, May 16th. Deutsche Bank Aktiengesellschaft began coverage on shares of Grab in a report on Friday, May 17th. They set a “buy” rating and a $4.50 price objective for the company. Finally, HSBC reissued a “buy” rating and issued a $4.30 target price on shares of Grab in a research note on Thursday, April 4th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $5.06.

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.