Rhumbline Advisers cut its stake in Grab Holdings Limited (NASDAQ:GRAB – Free Report) by 39.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 524,527 shares of the company’s stock after selling 346,314 shares during the period. Rhumbline Advisers’ holdings in Grab were worth $1,862,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in GRAB. Baillie Gifford & Co. bought a new stake in Grab during the second quarter worth approximately $166,587,000. Norges Bank bought a new stake in Grab during the fourth quarter worth approximately $146,995,000. Coronation Fund Managers Ltd. boosted its holdings in Grab by 116.3% during the first quarter. Coronation Fund Managers Ltd. now owns 35,042,039 shares of the company’s stock worth $110,032,000 after buying an additional 18,839,407 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Grab during the first quarter worth approximately $52,920,000. Finally, WCM Investment Management LLC bought a new stake in Grab during the first quarter worth approximately $31,955,000. 55.52% of the stock is currently owned by institutional investors.
Grab Stock Down 0.5 %
GRAB stock opened at $3.64 on Friday. Grab Holdings Limited has a 12-month low of $2.90 and a 12-month high of $3.77. The company has a quick ratio of 2.97, a current ratio of 3.00 and a debt-to-equity ratio of 0.03. The company has a market cap of $14.28 billion, a price-to-earnings ratio of -52.00 and a beta of 0.81. The company has a 50 day moving average of $3.33 and a two-hundred day moving average of $3.41.
Analysts Set New Price Targets
GRAB has been the subject of a number of research reports. Jefferies Financial Group reduced their target price on shares of Grab from $5.00 to $4.70 and set a “buy” rating for the company in a report on Wednesday, July 17th. Benchmark restated a “buy” rating and issued a $6.00 price target on shares of Grab in a research report on Wednesday, September 11th. Finally, Mizuho assumed coverage on shares of Grab in a research report on Thursday, June 27th. They issued an “outperform” rating and a $5.00 price target for the company. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $4.71.
View Our Latest Research Report on Grab
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.
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