Bank of New York Mellon Corp Has $17.08 Million Holdings in Grab Holdings Limited (NASDAQ:GRAB)

Bank of New York Mellon Corp cut its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 37.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,619,445 shares of the company’s stock after selling 2,209,835 shares during the quarter. Bank of New York Mellon Corp owned about 0.09% of Grab worth $17,084,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Global Retirement Partners LLC acquired a new position in shares of Grab in the fourth quarter valued at $30,000. SeaBridge Investment Advisors LLC acquired a new position in shares of Grab in the fourth quarter valued at $48,000. Atria Wealth Solutions Inc. acquired a new position in shares of Grab in the fourth quarter valued at $49,000. Sanctuary Advisors LLC acquired a new position in shares of Grab in the fourth quarter valued at $50,000. Finally, Glenmede Trust Co. NA acquired a new position in shares of Grab in the third quarter valued at $53,000. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GRAB. Evercore ISI upped their price target on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Bank of America upgraded Grab from an “underperform” rating to a “neutral” rating and upped their price target for the company from $4.90 to $5.10 in a research report on Tuesday, January 7th. HSBC upgraded Grab from a “hold” rating to a “buy” rating and lowered their price target for the company from $5.50 to $5.45 in a research report on Tuesday, February 4th. JPMorgan Chase & Co. upgraded Grab from a “neutral” rating to an “overweight” rating and set a $5.60 price target on the stock in a research report on Friday, February 21st. Finally, Barclays upped their price target on Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $5.62.

Grab Trading Up 4.6 %

Shares of GRAB stock opened at $4.31 on Wednesday. The firm has a market capitalization of $17.36 billion, a P/E ratio of -215.50, a P/E/G ratio of 2.26 and a beta of 0.88. Grab Holdings Limited has a twelve month low of $2.98 and a twelve month high of $5.72. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. The stock’s fifty day simple moving average is $4.70 and its 200 day simple moving average is $4.41.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. The firm had revenue of $764.00 million for the quarter, compared to analyst estimates of $762.57 million. As a group, sell-side analysts predict that Grab Holdings Limited will post 0.05 EPS for the current fiscal year.

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.