Grab Holdings Limited (NASDAQ:GRAB) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC lifted its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 13.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,608 shares of the company’s stock after purchasing an additional 5,820 shares during the quarter. Empowered Funds LLC’s holdings in Grab were worth $234,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of GRAB. Blue Trust Inc. grew its holdings in shares of Grab by 53.6% during the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after purchasing an additional 3,408 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Grab by 129.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,078,843 shares of the company’s stock worth $30,700,000 after purchasing an additional 4,557,800 shares during the period. Traynor Capital Management Inc. purchased a new position in shares of Grab during the 3rd quarter worth $41,000. First Trust Direct Indexing L.P. grew its holdings in shares of Grab by 34.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 18,435 shares of the company’s stock worth $70,000 after purchasing an additional 4,725 shares during the period. Finally, New York State Common Retirement Fund grew its holdings in shares of Grab by 25.7% during the 3rd quarter. New York State Common Retirement Fund now owns 7,777,606 shares of the company’s stock worth $29,555,000 after purchasing an additional 1,588,169 shares during the period. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Grab Stock Performance

Shares of GRAB opened at $4.90 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. Grab Holdings Limited has a 1 year low of $2.98 and a 1 year high of $5.72. The stock has a market capitalization of $19.73 billion, a PE ratio of -245.00, a PEG ratio of 2.23 and a beta of 0.90. The stock has a 50-day simple moving average of $4.76 and a 200-day simple moving average of $4.28.

Grab (NASDAQ:GRAB) last issued its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. The business had revenue of $764.00 million for the quarter, compared to analyst estimates of $762.57 million. On average, analysts predict that Grab Holdings Limited will post -0.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GRAB has been the subject of a number of research analyst reports. 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. Evercore ISI raised their target price on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. HSBC upgraded Grab from a “hold” rating to a “buy” rating and lowered their target price for the company from $5.50 to $5.45 in a report on Tuesday, February 4th. JPMorgan Chase & Co. upgraded Grab from a “neutral” rating to an “overweight” rating and set a $5.60 target price for the company in a report on Friday. Finally, Barclays raised their target price on Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $5.62.

Grab Company 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.