Raymond James Financial Inc. Takes $1.17 Million Position in Grab Holdings Limited (NASDAQ:GRAB)

Raymond James Financial Inc. bought a new stake in Grab Holdings Limited (NASDAQ:GRAB) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 246,731 shares of the company’s stock, valued at approximately $1,165,000.

A number of other institutional investors have also added to or reduced their stakes in the company. APG Asset Management N.V. acquired a new position in shares of Grab in the fourth quarter valued at $6,709,000. Sellaronda Global Management LP acquired a new position in shares of Grab during the 4th quarter worth $6,136,000. Bank of Nova Scotia bought a new position in shares of Grab in the fourth quarter worth about $140,000. FIL Ltd boosted its position in Grab by 458.5% in the fourth quarter. FIL Ltd now owns 1,554,372 shares of the company’s stock valued at $7,337,000 after buying an additional 1,276,063 shares in the last quarter. Finally, Employees Retirement System of Texas bought a new stake in Grab during the 4th quarter worth $190,000. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Grab Trading Up 2.5 %

NASDAQ:GRAB opened at $4.89 on Monday. The company has a 50-day moving average price of $4.43 and a 200-day moving average price of $4.64. The stock has a market cap of $19.69 billion, a price-to-earnings ratio of -244.50, a P/E/G ratio of 2.26 and a beta of 0.88. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. Grab Holdings Limited has a 12 month low of $2.98 and a 12 month 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 analysts’ consensus estimates of $0.01. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. The firm had revenue of $764.00 million for the quarter, compared to analysts’ expectations of $762.57 million. Equities analysts predict that Grab Holdings Limited will post 0.05 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on GRAB shares. Citigroup reaffirmed a “buy” rating on shares of Grab in a research report on Tuesday, February 4th. Barclays raised their target price on Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a research note on Thursday, February 20th. CLSA raised shares of Grab to a “moderate buy” rating in a research note on Wednesday, April 9th. HSBC raised Grab from a “hold” rating to a “buy” rating and lowered their price target for the company from $5.50 to $5.45 in a research report on Tuesday, February 4th. Finally, Hsbc Global Res raised Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $5.60.

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.