Algert Global LLC Buys Shares of 88,550 Grab Holdings Limited (NASDAQ:GRAB)

Algert Global LLC purchased a new position in shares of Grab Holdings Limited (NASDAQ:GRAB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 88,550 shares of the company’s stock, valued at approximately $314,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Public Employees Retirement Association of Colorado lifted its holdings in 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 in the last quarter. Caas Capital Management LP bought a new position in shares of Grab during the 4th quarter valued at about $156,000. Fullerton Fund Management Co Ltd. grew its position in shares of Grab by 20.9% in the 4th quarter. Fullerton Fund Management Co Ltd. now owns 17,315,851 shares of the company’s stock valued at $58,354,000 after purchasing an additional 2,997,442 shares during the period. Virtu Financial LLC bought a new stake in Grab during the 4th quarter worth approximately $191,000. Finally, Goldman Sachs Group Inc. increased its stake in Grab by 1.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 7,648,194 shares of the company’s stock worth $25,774,000 after purchasing an additional 126,365 shares in the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

Analysts Set New Price Targets

GRAB has been the subject of several research analyst reports. Mizuho assumed coverage on shares of Grab in a report on Thursday, June 27th. They issued an “outperform” rating and a $5.00 price target for the company. 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 research note on Wednesday, July 17th. Finally, Benchmark reissued a “buy” rating and issued a $6.00 price target on shares of Grab in a research note on Wednesday, September 11th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $4.71.

Grab Trading Up 0.3 %

Shares of NASDAQ:GRAB opened at $3.70 on Wednesday. The stock has a market capitalization of $14.52 billion, a PE ratio of -52.86 and a beta of 0.83. The company’s 50-day moving average price is $3.42 and its two-hundred day moving average price is $3.46. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.00 and a quick ratio of 2.97. Grab Holdings Limited has a one year low of $2.90 and a one year high of $3.88.

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