Grab Holdings Limited (NASDAQ:GRAB) is Coronation Fund Managers Ltd.’s Largest Position

Coronation Fund Managers Ltd. lessened its stake in Grab Holdings Limited (NASDAQ:GRAB) by 13.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,293,144 shares of the company’s stock after selling 4,748,895 shares during the period. Grab accounts for approximately 4.8% of Coronation Fund Managers Ltd.’s investment portfolio, making the stock its largest holding. Coronation Fund Managers Ltd. owned about 0.77% of Grab worth $107,541,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. TD Asset Management Inc increased its position in shares of Grab by 2.8% during the fourth quarter. TD Asset Management Inc now owns 390,966 shares of the company’s stock worth $1,318,000 after purchasing an additional 10,646 shares in the last quarter. California State Teachers Retirement System increased its position in Grab by 3.8% during the 4th quarter. California State Teachers Retirement System now owns 2,326,539 shares of the company’s stock valued at $7,840,000 after buying an additional 85,670 shares in the last quarter. KBC Group NV raised its stake in Grab by 9.6% in the fourth quarter. KBC Group NV now owns 1,681,828 shares of the company’s stock valued at $5,668,000 after buying an additional 147,319 shares during the last quarter. Capital International Sarl boosted its holdings in Grab by 19.7% in the fourth quarter. Capital International Sarl now owns 1,359,574 shares of the company’s stock worth $4,582,000 after acquiring an additional 223,629 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado grew its stake in shares of Grab by 2,964.6% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 422,487 shares of the company’s stock worth $1,424,000 after acquiring an additional 408,701 shares during the last quarter. 55.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GRAB. Mizuho started coverage on shares of Grab in a research report on Thursday, June 27th. They issued an “outperform” rating and a $5.00 price objective for the company. Benchmark reiterated a “buy” rating and set a $6.00 price objective on shares of Grab in a research note on Wednesday, September 11th. Finally, Jefferies Financial Group cut their target price on Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $4.71.

Grab Stock Down 0.3 %

GRAB stock opened at $3.79 on Wednesday. The firm’s fifty day moving average is $3.38 and its 200 day moving average is $3.44. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.97 and a current ratio of 3.00. Grab Holdings Limited has a one year low of $2.90 and a one year high of $3.88. The firm has a market cap of $14.87 billion, a PE ratio of -54.14 and a beta of 0.81.

Grab (NASDAQ:GRAB) last announced its quarterly earnings results on Thursday, August 15th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. The firm had revenue of $664.00 million during the quarter, compared to analyst estimates of $674.17 million. During the same quarter in the previous year, the business earned ($0.03) EPS. Grab’s revenue for the quarter was up 17.1% compared to the same quarter last year. On average, research analysts forecast that Grab Holdings Limited will post -0.01 EPS for the current year.

Grab Profile

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.