Ethic Inc. Buys 144,569 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Ethic Inc. grew its stake in Grab Holdings Limited (NASDAQ:GRAB) by 36.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 546,094 shares of the company’s stock after acquiring an additional 144,569 shares during the period. Ethic Inc.’s holdings in Grab were worth $2,578,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Twin Tree Management LP bought a new position in Grab in the fourth quarter worth approximately $25,000. Campbell Capital Management Inc. bought a new position in shares of Grab during the 4th quarter worth $30,000. Global Retirement Partners LLC bought a new position in shares of Grab during the 4th quarter worth $30,000. TD Private Client Wealth LLC increased its stake in shares of Grab by 7,238.5% during the fourth quarter. TD Private Client Wealth LLC now owns 7,999 shares of the company’s stock valued at $38,000 after buying an additional 7,890 shares during the period. Finally, Allianz SE bought a new stake in shares of Grab in the fourth quarter valued at about $44,000. 55.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on GRAB. Citigroup reiterated a “buy” rating on shares of Grab in a report on Tuesday, February 4th. JPMorgan Chase & Co. dropped their price objective on shares of Grab from $5.60 to $5.30 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. HSBC raised shares of Grab from a “hold” rating to a “buy” rating and cut their price objective for the company from $5.50 to $5.45 in a report on Tuesday, February 4th. Benchmark reaffirmed a “buy” rating and set a $6.00 target price on shares of Grab in a research report on Thursday, February 20th. Finally, Barclays lifted their price target on Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.60.

Grab Trading Down 0.6%

Shares of NASDAQ:GRAB opened at $4.90 on Monday. The business’s 50-day moving average is $4.43 and its 200 day moving average is $4.67. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67. Grab Holdings Limited has a 1 year low of $2.98 and a 1 year high of $5.72. The firm has a market capitalization of $19.73 billion, a P/E ratio of -245.00, a P/E/G ratio of 2.26 and a beta of 0.86.

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