85,625 Shares in Grab Holdings Limited (NASDAQ:GRAB) Bought by Harbour Capital Advisors LLC

by · The Markets Daily

Harbour Capital Advisors LLC acquired a new position in shares of Grab Holdings Limited (NASDAQ:GRAB – Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 85,625 shares of the company’s stock, valued at approximately $313,000.

Several other institutional investors and hedge funds have also made changes to their positions in GRAB. Baillie Gifford & Co. purchased a new stake in Grab during the 2nd quarter valued at approximately $166,587,000. Coronation Fund Managers Ltd. increased its position in Grab by 116.3% during the first quarter. Coronation Fund Managers Ltd. now owns 35,042,039 shares of the company’s stock worth $110,032,000 after buying an additional 18,839,407 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Grab during the first quarter worth $52,920,000. Point72 Asset Management L.P. purchased a new stake in shares of Grab in the second quarter valued at $57,696,000. Finally, Marshall Wace LLP grew its position in shares of Grab by 39.7% in the second quarter. Marshall Wace LLP now owns 30,405,993 shares of the company’s stock valued at $107,941,000 after purchasing an additional 8,635,310 shares during the period. 55.52% of the stock is owned by institutional investors and hedge funds.

Grab Trading Up 3.0 %

Grab stock opened at $3.73 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.00 and a quick ratio of 2.97. The company has a market capitalization of $14.63 billion, a price-to-earnings ratio of -53.29 and a beta of 0.83. Grab Holdings Limited has a one year low of $2.90 and a one year high of $3.88. The company’s fifty day moving average price is $3.48 and its two-hundred day moving average price is $3.48.

Grab (NASDAQ:GRAB – Get Free Report) last released its quarterly earnings results on Thursday, August 15th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). The company had revenue of $664.00 million during the quarter, compared to analysts’ expectations of $674.17 million. Grab had a negative net margin of 8.24% and a negative return on equity of 3.35%. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.03) earnings per share. On average, analysts forecast that Grab Holdings Limited will post -0.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GRAB. Benchmark reiterated a “buy” rating and issued a $6.00 target price on shares of Grab in a report on Wednesday, September 11th. Mizuho assumed coverage on Grab in a research note on Thursday, June 27th. They issued an “outperform” rating and a $5.00 price target on the stock. Finally, Jefferies Financial Group lowered their price objective on Grab from $5.00 to $4.70 and set a “buy” rating for the company in a report on Wednesday, July 17th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $4.71.

Check Out Our Latest Stock Analysis on GRAB

About Grab

(Free Report)

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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