Affinity Wealth Management LLC Has $4.91 Million Stock Holdings in Grab Holdings Limited (NASDAQ:GRAB)

Affinity Wealth Management LLC raised its stake in Grab Holdings Limited (NASDAQ:GRAB) by 4.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,040,009 shares of the company’s stock after buying an additional 40,533 shares during the period. Grab makes up 0.9% of Affinity Wealth Management LLC’s investment portfolio, making the stock its 27th biggest position. Affinity Wealth Management LLC’s holdings in Grab were worth $4,909,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Blue Trust Inc. increased its holdings in Grab by 53.6% in the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after purchasing an additional 3,408 shares in the last quarter. Traynor Capital Management Inc. bought a new stake in Grab during the 3rd quarter worth approximately $41,000. Glenmede Trust Co. NA bought a new stake in Grab during the 3rd quarter worth approximately $53,000. First Trust Direct Indexing L.P. grew its stake in shares of Grab by 34.5% in the third quarter. First Trust Direct Indexing L.P. now owns 18,435 shares of the company’s stock worth $70,000 after purchasing an additional 4,725 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. bought a new position in Grab during the 2nd quarter worth $73,000. Institutional investors own 55.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Bank of America raised Grab from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $4.90 to $5.10 in a research note on Tuesday, January 7th. Benchmark reissued a “buy” rating and set a $6.00 target price on shares of Grab in a research note on Tuesday, November 12th. Mizuho upped their price target on shares of Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Daiwa Capital Markets initiated coverage on Grab in a research report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price objective for the company. Finally, JPMorgan Chase & Co. lifted their target price on Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $5.55.

Grab Stock Down 1.5 %

Shares of NASDAQ:GRAB opened at $4.57 on Friday. The stock has a market cap of $18.40 billion, a price-to-earnings ratio of -228.50, a PEG ratio of 1.84 and a beta of 0.90. The business’s 50 day moving average is $4.94 and its 200 day moving average is $4.09. Grab Holdings Limited has a 12-month low of $2.98 and a 12-month high of $5.72. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04.

Grab (NASDAQ:GRAB) last posted its quarterly earnings data on Monday, November 11th. The company reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $716.00 million for the quarter, compared to the consensus estimate 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 firm earned ($0.02) EPS. On average, sell-side analysts forecast that Grab Holdings Limited will post -0.03 earnings per share for the current fiscal year.

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.