Lake Street Advisors Group LLC Acquires 679,924 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Lake Street Advisors Group LLC lifted its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 4,415.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 695,324 shares of the company’s stock after acquiring an additional 679,924 shares during the period. Lake Street Advisors Group LLC’s holdings in Grab were worth $2,183,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank purchased a new position in Grab during the fourth quarter worth about $146,995,000. Coronation Fund Managers Ltd. boosted its holdings 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 purchasing an additional 18,839,407 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Grab during the first quarter worth about $52,920,000. WCM Investment Management LLC purchased a new position in Grab during the first quarter worth about $31,955,000. Finally, Wellington Management Group LLP boosted its holdings in Grab by 21,347.2% during the fourth quarter. Wellington Management Group LLP now owns 6,724,121 shares of the company’s stock worth $22,660,000 after purchasing an additional 6,692,769 shares during the last quarter. 55.52% of the stock is owned by institutional investors.

Grab Stock Performance

Shares of GRAB stock traded down $0.02 during trading on Wednesday, reaching $3.36. 21,299,533 shares of the company’s stock traded hands, compared to its average volume of 22,279,443. The company has a market capitalization of $13.18 billion, a P/E ratio of -47.99 and a beta of 0.81. The company has a current ratio of 3.26, a quick ratio of 3.22 and a debt-to-equity ratio of 0.03. The firm’s 50-day moving average is $3.58 and its 200 day moving average is $3.38. Grab Holdings Limited has a 1 year low of $2.90 and a 1 year high of $3.92.

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

Analyst Upgrades and Downgrades

GRAB has been the topic of a number of research analyst reports. Barclays boosted their target price on shares of Grab from $4.30 to $4.70 and gave the company an “overweight” rating in a research note on Wednesday, May 22nd. HSBC reiterated a “buy” rating and issued a $4.30 target price on shares of Grab in a research note on Thursday, April 4th. Jefferies Financial Group dropped their target price 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. Mizuho initiated coverage on shares of Grab in a research note on Thursday, June 27th. They issued an “outperform” rating and a $5.00 target price on the stock. Finally, Benchmark reiterated a “buy” rating and issued a $6.00 target price on shares of Grab in a research note on Thursday, May 16th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, Grab currently has an average rating of “Buy” and an average target price of $5.02.

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.