Grab Holdings Limited (NASDAQ:GRAB) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc raised its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 12.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 229,863 shares of the company’s stock after acquiring an additional 25,962 shares during the period. CIBC Asset Management Inc’s holdings in Grab were worth $1,085,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GRAB. Blue Trust Inc. lifted its stake in Grab by 53.6% during the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after acquiring an additional 3,408 shares during the period. Assenagon Asset Management S.A. lifted its stake in Grab by 129.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,078,843 shares of the company’s stock valued at $30,700,000 after acquiring an additional 4,557,800 shares during the period. Traynor Capital Management Inc. acquired a new stake in Grab during the 3rd quarter valued at approximately $41,000. First Trust Direct Indexing L.P. lifted its stake in Grab by 34.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 18,435 shares of the company’s stock valued at $70,000 after acquiring an additional 4,725 shares during the period. Finally, New York State Common Retirement Fund lifted its stake in 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 valued at $29,555,000 after acquiring an additional 1,588,169 shares during the period. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Grab Price Performance

Shares of NASDAQ GRAB opened at $4.90 on Friday. The firm has a market cap of $19.73 billion, a PE ratio of -245.00, a PEG ratio of 2.26 and a beta of 0.90. The firm has a fifty day moving average of $4.76 and a 200 day moving average of $4.29. 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 one year low of $2.98 and a one year high of $5.72.

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

Analysts Set New Price Targets

Several analysts have commented on the stock. China Renaissance cut shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 price objective for the company. in a research note on Thursday, November 21st. HSBC raised shares of Grab from a “hold” rating to a “buy” rating and cut their target price for the company from $5.50 to $5.45 in a report on Tuesday, February 4th. Barclays lifted their target price on shares of Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a report on Thursday. Bank of America raised shares of Grab from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $4.90 to $5.10 in a report on Tuesday, January 7th. Finally, Benchmark reaffirmed a “buy” rating and set a $6.00 target price on shares of Grab in a report on Thursday. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Grab currently has a consensus rating of “Moderate Buy” and a consensus price target 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.