Affinity Wealth Management LLC purchased a new stake in shares of Grab Holdings Limited (NASDAQ:GRAB – Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 999,476 shares of the company’s stock, valued at approximately $3,798,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GRAB. Sequoia Financial Advisors LLC grew its stake in shares of Grab by 8.1% during the second quarter. Sequoia Financial Advisors LLC now owns 40,185 shares of the company’s stock valued at $143,000 after buying an additional 3,020 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in Grab by 37.0% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock worth $50,000 after purchasing an additional 3,795 shares during the period. Cigna Investments Inc. New lifted its position in shares of Grab by 12.9% during the second quarter. Cigna Investments Inc. New now owns 40,269 shares of the company’s stock worth $143,000 after purchasing an additional 4,595 shares during the last quarter. Lake Street Advisors Group LLC boosted its stake in shares of Grab by 0.7% during the second quarter. Lake Street Advisors Group LLC now owns 700,455 shares of the company’s stock valued at $2,487,000 after purchasing an additional 5,131 shares during the period. Finally, Forsta AP Fonden grew its holdings in shares of Grab by 1.1% in the first quarter. Forsta AP Fonden now owns 552,100 shares of the company’s stock worth $1,734,000 after purchasing an additional 6,100 shares during the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.
Grab Stock Down 0.3 %
GRAB traded down $0.01 on Monday, hitting $3.64. The company had a trading volume of 3,382,969 shares, compared to its average volume of 22,896,510. The stock has a market capitalization of $14.28 billion, a price-to-earnings ratio of -52.14 and a beta of 0.83. The stock has a fifty day moving average price of $3.44 and a 200-day moving average price of $3.47. Grab Holdings Limited has a 12-month low of $2.90 and a 12-month high of $3.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.97 and a current ratio of 3.00.
Wall Street Analyst Weigh In
GRAB has been the subject of a number of research analyst reports. Benchmark reissued a “buy” rating and issued a $6.00 price objective on shares of Grab in a research report on Wednesday, September 11th. Mizuho began coverage on Grab in a report on Thursday, June 27th. They issued an “outperform” rating and a $5.00 price target for the company. Finally, Jefferies Financial Group reduced their price objective on Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, Grab presently has a consensus rating of “Buy” and an average price target of $4.71.
Check Out Our Latest Report on Grab
About Grab
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.
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