Healthcare of Ontario Pension Plan Trust Fund Takes $22.43 Million Position in Grab Holdings Limited (NASDAQ:GRAB)

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Grab Holdings Limited (NASDAQ:GRAB) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 5,903,600 shares of the company’s stock, valued at approximately $22,434,000.

A number of other hedge funds have also bought and sold shares of GRAB. Caz Investments LP increased its position in shares of Grab by 100.0% during the 3rd quarter. Caz Investments LP now owns 3,700,232 shares of the company’s stock valued at $13,598,000 after purchasing an additional 1,850,116 shares during the last quarter. Glenmede Trust Co. NA bought a new position in Grab during the third quarter valued at about $53,000. Tree Line Advisors Hong Kong Ltd. purchased a new stake in Grab during the third quarter worth about $38,000,000. Dai ichi Life Insurance Company Ltd raised its position in Grab by 13.8% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 123,679 shares of the company’s stock worth $470,000 after acquiring an additional 15,000 shares during the period. Finally, Citigroup Inc. boosted its stake in Grab by 83.6% in the third quarter. Citigroup Inc. now owns 14,277,673 shares of the company’s stock valued at $54,255,000 after acquiring an additional 6,503,051 shares during the last quarter. 55.52% of the stock is currently owned by institutional investors.

Grab Price Performance

GRAB stock opened at $5.18 on Friday. The firm has a 50 day moving average of $4.19 and a 200-day moving average of $3.71. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $20.86 billion, a P/E ratio of -259.00 and a beta of 0.81. Grab Holdings Limited has a 12 month low of $2.90 and a 12 month high of $5.72.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Monday, November 11th. The company reported $0.01 EPS for the quarter. The firm had revenue of $716.00 million during the quarter, compared to analyst estimates 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 business earned ($0.02) EPS. As a group, sell-side analysts predict that Grab Holdings Limited will post -0.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on GRAB shares. Evercore ISI raised their price target on shares of Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Daiwa Capital Markets started coverage on Grab in a research report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 target price for the company. China Renaissance cut Grab from a “buy” rating to a “hold” rating and set a $5.40 price target on the stock. in a research report on Thursday, November 21st. JPMorgan Chase & Co. lifted their price objective on Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Finally, Mizuho boosted their price objective on Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.42.

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.