Toronto Dominion Bank cut its holdings in Grab Holdings Limited (NASDAQ:GRAB – Get Rating) by 9.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 73,256 shares of the company’s stock after selling 7,352 shares during the period. Toronto Dominion Bank’s holdings in Grab were worth $236,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SVB Wealth LLC purchased a new stake in shares of Grab in the 3rd quarter worth $27,000. Kore Private Wealth LLC purchased a new stake in shares of Grab in the 2nd quarter worth $29,000. Eaton Vance Management purchased a new stake in shares of Grab in the 3rd quarter worth $30,000. Arena Capital Advisors LLC CA purchased a new stake in Grab in the 1st quarter worth $35,000. Finally, Ellevest Inc. increased its stake in Grab by 7,116.9% in the 3rd quarter. Ellevest Inc. now owns 14,506 shares of the company’s stock worth $38,000 after buying an additional 14,305 shares in the last quarter. 46.57% of the stock is owned by institutional investors.
Analysts Set New Price Targets
GRAB has been the subject of a number of analyst reports. Citigroup cut their price target on Grab from $5.00 to $4.80 and set a “buy” rating for the company in a research note on Friday, April 21st. JPMorgan Chase & Co. downgraded shares of Grab from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $3.20 to $2.80 in a report on Wednesday, February 1st. Bank of America raised shares of Grab from a “neutral” rating to a “buy” rating and increased their price objective for the company from $3.60 to $4.20 in a report on Tuesday, January 17th. Benchmark began coverage on shares of Grab in a report on Thursday, April 20th. They set a “buy” rating and a $4.00 price objective for the company. Finally, Loop Capital dropped their price objective on shares of Grab from $5.00 to $4.00 in a report on Wednesday, April 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Grab has a consensus rating of “Moderate Buy” and an average target price of $3.92.
Grab Stock Performance
Grab (NASDAQ:GRAB – Get Rating) last issued its quarterly earnings data on Thursday, February 23rd. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.04). The business had revenue of $502.00 million for the quarter, compared to analysts’ expectations of $405.39 million. Grab had a negative net margin of 117.45% and a negative return on equity of 23.71%. Grab’s revenue for the quarter was up 311.5% compared to the same quarter last year. As a group, equities analysts predict that Grab Holdings Limited will post -0.17 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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