HighTower Advisors LLC Purchases 14,759 Shares of Grab Holdings Limited (NASDAQ:GRAB)

HighTower Advisors LLC grew its position in shares of Grab Holdings Limited (NASDAQ:GRAB) by 87.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,546 shares of the company’s stock after buying an additional 14,759 shares during the period. HighTower Advisors LLC’s holdings in Grab were worth $119,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GRAB. Bank of New York Mellon Corp raised its position in shares of Grab by 52.4% in the second quarter. Bank of New York Mellon Corp now owns 4,837,740 shares of the company’s stock valued at $17,174,000 after buying an additional 1,662,479 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Grab by 31.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 958,770 shares of the company’s stock worth $3,404,000 after purchasing an additional 230,681 shares during the period. Panagora Asset Management Inc. grew its stake in Grab by 13.2% during the second quarter. Panagora Asset Management Inc. now owns 1,222,998 shares of the company’s stock worth $4,342,000 after buying an additional 142,889 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Grab by 9.0% in the 2nd quarter. Principal Financial Group Inc. now owns 144,649 shares of the company’s stock valued at $514,000 after buying an additional 11,987 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Grab by 35.4% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 221,973 shares of the company’s stock valued at $788,000 after buying an additional 58,053 shares in the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Trading Up 0.4 %

GRAB opened at $4.96 on Friday. The company’s 50 day moving average price is $4.79 and its two-hundred day moving average price is $3.93. The firm has a market capitalization of $19.97 billion, a price-to-earnings ratio of -248.00 and a beta of 0.90. Grab Holdings Limited has a fifty-two week low of $2.90 and a fifty-two week high of $5.72. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $716.00 million for the quarter, compared to analysts’ expectations of $705.40 million. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. As a group, research analysts predict that Grab Holdings Limited will post -0.03 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GRAB shares. HSBC cut shares of Grab from a “buy” rating to a “hold” rating and lifted their price objective for the company from $4.25 to $5.50 in a research note on Thursday, December 5th. China Renaissance cut Grab from a “buy” rating to a “hold” rating and set a $5.40 price target for the company. in a report on Thursday, November 21st. Barclays upped their price objective on Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their target price on Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Finally, Mizuho increased their target price on shares of Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $5.53.

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.