Toronto Dominion Bank Grows Stock Holdings in Grab Holdings Limited (NASDAQ:GRAB)

Toronto Dominion Bank raised its position in Grab Holdings Limited (NASDAQ:GRAB) by 3,078.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,582,012 shares of the company’s stock after acquiring an additional 3,469,329 shares during the quarter. Toronto Dominion Bank’s holdings in Grab were worth $11,248,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Grab during the 4th quarter valued at about $146,995,000. Coronation Fund Managers Ltd. boosted its stake in shares of Grab by 116.3% during the 1st quarter. Coronation Fund Managers Ltd. now owns 35,042,039 shares of the company’s stock valued at $110,032,000 after purchasing an additional 18,839,407 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in Grab by 11.3% during the fourth quarter. Artisan Partners Limited Partnership now owns 24,894,289 shares of the company’s stock worth $83,894,000 after acquiring an additional 2,523,484 shares in the last quarter. Fullerton Fund Management Co Ltd. boosted its stake in Grab by 20.9% during the fourth quarter. Fullerton Fund Management Co Ltd. now owns 17,315,851 shares of the company’s stock worth $58,354,000 after acquiring an additional 2,997,442 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in Grab during the first quarter worth about $52,920,000. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Grab Stock Performance

Shares of GRAB traded up $0.01 during mid-day trading on Friday, hitting $3.33. 13,942,923 shares of the company traded hands, compared to its average volume of 22,185,189. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.22 and a current ratio of 3.26. The stock has a 50-day moving average price of $3.57 and a two-hundred day moving average price of $3.38. Grab Holdings Limited has a 1 year low of $2.90 and a 1 year high of $3.92. The stock has a market cap of $13.06 billion, a price-to-earnings ratio of -47.56 and a beta of 0.81.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Wednesday, May 15th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.02). Grab had a negative net margin of 11.86% and a negative return on equity of 4.62%. The company had revenue of $653.00 million for the quarter, compared to analysts’ expectations of $662.48 million. Equities analysts anticipate that Grab Holdings Limited will post -0.03 earnings per share for the current year.

Wall Street Analyst Weigh In

GRAB has been the topic of several research reports. Jefferies Financial Group dropped their price objective on shares of Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. HSBC reissued a “buy” rating and set a $4.30 price objective on shares of Grab in a research note on Thursday, April 4th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Grab in a research note on Friday, May 17th. They set a “buy” rating and a $4.50 price objective on the stock. Mizuho initiated coverage on shares of Grab in a report on Thursday, June 27th. They issued an “outperform” rating and a $5.00 target price for the company. Finally, Barclays lifted their target price on shares of Grab from $4.30 to $4.70 and gave the stock an “overweight” rating in a report on Wednesday, May 22nd. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $5.02.

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.