Citigroup Inc. Raises Position in Grab Holdings Limited (NASDAQ:GRAB)

Citigroup Inc. raised its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 83.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,277,673 shares of the company’s stock after buying an additional 6,503,051 shares during the period. Citigroup Inc. owned approximately 0.36% of Grab worth $54,255,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its position in Grab by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,429,899 shares of the company’s stock valued at $5,434,000 after buying an additional 48,596 shares during the period. Thompson Siegel & Walmsley LLC purchased a new position in Grab in the 3rd quarter valued at approximately $1,986,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Grab in the 3rd quarter valued at approximately $2,757,000. Swiss National Bank boosted its position in Grab by 0.9% in the 3rd quarter. Swiss National Bank now owns 6,274,800 shares of the company’s stock valued at $23,844,000 after buying an additional 55,100 shares during the period. Finally, Empowered Funds LLC lifted its position in shares of Grab by 7.7% during the 3rd quarter. Empowered Funds LLC now owns 43,788 shares of the company’s stock worth $166,000 after purchasing an additional 3,147 shares during the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Grab Price Performance

Shares of NASDAQ:GRAB opened at $5.07 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67. The firm has a market capitalization of $20.42 billion, a P/E ratio of -253.50 and a beta of 0.81. Grab Holdings Limited has a 12 month low of $2.90 and a 12 month high of $5.72. The company’s fifty day moving average price is $4.09 and its 200 day moving average price is $3.68.

Grab (NASDAQ:GRAB) last posted its quarterly earnings data on Monday, November 11th. The company reported $0.01 EPS for the quarter. The company had revenue of $716.00 million for the quarter, compared to analyst estimates of $705.40 million. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. During the same period in the previous year, the business posted ($0.02) earnings per share. As a group, sell-side analysts predict that Grab Holdings Limited will post -0.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GRAB has been the subject of several recent analyst reports. Benchmark reaffirmed a “buy” rating and set a $6.00 price objective on shares of Grab in a research report on Tuesday, November 12th. 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 report on Thursday. Bank of America cut shares of Grab from a “buy” rating to an “underperform” rating and set a $4.90 price objective for the company. in a research report on Friday. Evercore ISI lifted their price objective on shares of Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Finally, Daiwa Capital Markets initiated coverage on shares of Grab in a research report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price objective for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.42.

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.