Swiss National Bank Reduces Position in Grab Holdings Limited (NASDAQ:GRAB)

Swiss National Bank lessened its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 7.0% during the 4th quarter, HoldingsChannel reports. The fund owned 5,834,100 shares of the company’s stock after selling 440,700 shares during the quarter. Swiss National Bank’s holdings in Grab were worth $27,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of GRAB. Perpetual Ltd purchased a new position in shares of Grab during the 4th quarter valued at $213,177,000. Wellington Management Group LLP lifted its stake in shares of Grab by 13.4% during the 3rd quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock valued at $472,394,000 after buying an additional 14,671,388 shares in the last quarter. Tree Line Advisors Hong Kong Ltd. purchased a new position in shares of Grab during the 3rd quarter valued at $38,000,000. Assenagon Asset Management S.A. lifted its stake in shares of Grab by 109.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 16,946,914 shares of the company’s stock valued at $79,989,000 after buying an additional 8,868,071 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Grab by 179.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,462,483 shares of the company’s stock valued at $47,357,000 after buying an additional 8,004,912 shares in the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Grab Stock Performance

Grab stock opened at $4.45 on Tuesday. The company’s 50-day moving average price is $4.66 and its 200-day moving average price is $4.44. Grab Holdings Limited has a twelve month low of $2.98 and a twelve 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. The company has a market cap of $17.92 billion, a PE ratio of -222.50, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88.

Grab (NASDAQ:GRAB) last posted its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. The firm had revenue of $764.00 million for the quarter, compared to the consensus estimate of $762.57 million. On average, equities research analysts forecast that Grab Holdings Limited will post 0.05 EPS for the current fiscal year.

Analysts Set New Price Targets

GRAB has been the topic of a number of analyst reports. Benchmark restated a “buy” rating and set a $6.00 target price on shares of Grab in a research note on Thursday, February 20th. JPMorgan Chase & Co. upgraded shares of Grab from a “neutral” rating to an “overweight” rating and set a $5.60 target price on the stock in a research note on Friday, February 21st. Citigroup reiterated a “buy” rating on shares of Grab in a research note on Tuesday, February 4th. Bank of America upgraded shares of Grab from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $4.90 to $5.10 in a research note on Tuesday, January 7th. Finally, Hsbc Global Res upgraded shares of Grab from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Grab presently has an average rating of “Moderate Buy” and a consensus price target of $5.62.

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.