Corebridge Financial Inc. Lowers Stock Holdings in Grab Holdings Limited (NASDAQ:GRAB)

Corebridge Financial Inc. lessened its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 3.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 324,892 shares of the company’s stock after selling 11,100 shares during the period. Corebridge Financial Inc.’s holdings in Grab were worth $1,533,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Baillie Gifford & Co. raised its stake in Grab by 10.0% during the 4th quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company’s stock valued at $221,942,000 after purchasing an additional 4,259,537 shares during the period. Tidal Investments LLC grew its holdings in Grab by 4,311.8% during the 3rd quarter. Tidal Investments LLC now owns 445,103 shares of the company’s stock valued at $1,691,000 after buying an additional 435,014 shares in the last quarter. Leibman Financial Services Inc. bought a new stake in shares of Grab during the fourth quarter valued at approximately $937,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Grab by 2.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,707,627 shares of the company’s stock worth $22,220,000 after buying an additional 134,243 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Grab by 2.9% during the third quarter. Geode Capital Management LLC now owns 20,666,618 shares of the company’s stock worth $77,414,000 after acquiring an additional 591,898 shares during the last quarter. 55.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Bank of America upgraded shares of Grab from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $4.90 to $5.10 in a research note on Tuesday, January 7th. Citigroup restated a “buy” rating on shares of Grab in a report on Tuesday, February 4th. Hsbc Global Res raised Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Benchmark reissued a “buy” rating and issued a $6.00 target price on shares of Grab in a report on Thursday, February 20th. Finally, Barclays lifted their price target on Grab from $5.50 to $6.50 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $5.62.

Grab Price Performance

Grab stock opened at $4.61 on Thursday. The stock has a market cap of $18.56 billion, a price-to-earnings ratio of -230.50, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88. The firm has a 50-day moving average of $4.68 and a two-hundred day moving average of $4.54. Grab Holdings Limited has a 1 year low of $2.98 and a 1 year 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 announced its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. The company had revenue of $764.00 million for the quarter, compared to analysts’ expectations of $762.57 million. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. On average, research analysts forecast that Grab Holdings Limited will post 0.05 earnings per share 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.