Swiss National Bank grew its stake in shares of Grab Holdings Limited (NASDAQ:GRAB – Get Rating) by 0.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 4,570,600 shares of the company’s stock after acquiring an additional 4,900 shares during the period. Swiss National Bank’s holdings in Grab were worth $11,564,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new stake in Grab in the 1st quarter worth about $904,000. Comerica Bank bought a new stake in Grab in the 2nd quarter worth about $279,000. Toronto Dominion Bank bought a new stake in Grab in the 1st quarter worth about $3,390,000. Brown Advisory Inc. bought a new stake in Grab in the 1st quarter worth about $116,000. Finally, Atlantic Union Bankshares Corp bought a new stake in Grab in the 2nd quarter worth about $39,000. 46.17% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the company. Barclays assumed coverage on Grab in a report on Monday, October 10th. They issued an “equal weight” rating and a $3.00 price objective for the company. JPMorgan Chase & Co. cut Grab from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $3.00 to $3.80 in a research report on Monday, August 8th. Finally, Citigroup dropped their target price on Grab from $5.40 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, November 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.38.
Grab Stock Down 0.3 %
Grab (NASDAQ:GRAB – Get Rating) last posted its quarterly earnings data on Thursday, August 25th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). Grab had a negative net margin of 222.20% and a negative return on equity of 32.22%. The company had revenue of $321.00 million for the quarter, compared to analysts’ expectations of $307.69 million. As a group, research analysts predict that Grab Holdings Limited will post -0.39 EPS 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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