Tuttle Capital Management LLC purchased a new position in shares of Grab Holdings Limited (NASDAQ:GRAB – Get Rating) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 18,966 shares of the company’s stock, valued at approximately $66,000.
Several other institutional investors have also modified their holdings of GRAB. SB Investment Advisers UK Ltd. purchased a new stake in shares of Grab during the 4th quarter worth approximately $4,985,119,000. Mufg Bank LTD. purchased a new stake in Grab in the 4th quarter valued at approximately $1,373,168,000. Capital Research Global Investors purchased a new stake in Grab in the 4th quarter valued at approximately $504,301,000. Invesco Ltd. purchased a new stake in Grab in the 4th quarter valued at approximately $317,176,000. Finally, Capital International Investors purchased a new stake in Grab in the 4th quarter valued at approximately $131,126,000. Hedge funds and other institutional investors own 46.25% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on GRAB. KGI Securities began coverage on Grab in a research note on Monday, June 6th. They issued a “neutral” rating on the stock. HSBC reduced their target price on Grab from $7.50 to $4.75 and set a “buy” rating on the stock in a research note on Monday, May 23rd. Deutsche Bank Aktiengesellschaft assumed coverage on Grab in a research note on Friday, June 17th. They set a “buy” rating and a $3.20 price target on the stock. JPMorgan Chase & Co. raised Grab from a “neutral” rating to an “overweight” rating and set a $3.00 price target on the stock in a research note on Monday, July 18th. They noted that the move was a valuation call. Finally, China Renaissance assumed coverage on Grab in a research note on Monday, June 6th. They set a “buy” rating and a $4.20 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $5.50.
Grab Stock Down 2.4 %
Grab (NASDAQ:GRAB – Get Rating) last announced its quarterly earnings results on Thursday, May 19th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). The company had revenue of $228.00 million during the quarter, compared to analyst estimates of $134.87 million. As a group, analysts predict that Grab Holdings Limited will post -0.33 earnings per share for the current year.
Grab Holdings Limited provides superapps that allows access to mobility, delivery, financial services, and enterprise offerings through its mobile application in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The company is headquartered in Singapore.
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