Grab Holdings Limited $GRAB Shares Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC raised its position in Grab Holdings Limited (NASDAQ:GRAB) by 38.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,069,683 shares of the company’s stock after buying an additional 299,450 shares during the period. Park Avenue Securities LLC’s holdings in Grab were worth $6,439,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Grab by 18.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,261,794 shares of the company’s stock worth $78,196,000 after acquiring an additional 2,679,277 shares in the last quarter. SCS Capital Management LLC bought a new position in shares of Grab during the first quarter worth about $1,197,000. Nordea Investment Management AB grew its stake in Grab by 2.6% in the second quarter. Nordea Investment Management AB now owns 17,190,535 shares of the company’s stock worth $87,586,000 after purchasing an additional 437,197 shares in the last quarter. Stanley Laman Group Ltd. bought a new stake in Grab in the third quarter valued at about $1,204,000. Finally, Exchange Traded Concepts LLC increased its holdings in Grab by 559.1% in the second quarter. Exchange Traded Concepts LLC now owns 1,773,947 shares of the company’s stock valued at $8,923,000 after buying an additional 1,504,799 shares during the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

Grab Price Performance

NASDAQ GRAB opened at $4.88 on Friday. The stock has a 50-day simple moving average of $5.27 and a 200 day simple moving average of $5.37. Grab Holdings Limited has a twelve month low of $3.36 and a twelve month high of $6.62. The stock has a market capitalization of $19.65 billion, a PE ratio of 122.03 and a beta of 0.90. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.81 and a current ratio of 1.83.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.02). Grab had a return on equity of 1.91% and a net margin of 3.81%.The business had revenue of $873.00 million during the quarter, compared to the consensus estimate of $870.44 million. Research analysts anticipate that Grab Holdings Limited will post 0.05 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on GRAB. HSBC reaffirmed a “hold” rating and set a $6.20 target price on shares of Grab in a report on Wednesday, September 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of Grab in a research report on Wednesday, October 8th. Benchmark lifted their price objective on shares of Grab from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Barclays boosted their target price on shares of Grab from $6.50 to $7.00 and gave the company an “overweight” rating in a research note on Tuesday, November 11th. Finally, Mizuho set a $7.00 price target on shares of Grab in a research report on Tuesday, November 4th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $6.58.

Grab Company Profile

Grab Holdings Inc is a Singapore-based technology company that operates a consumer-facing “super app” across Southeast Asia offering services spanning ride-hailing, food and package delivery, and digital payments. Its platform connects consumers, drivers, merchants and delivery partners through mobile applications and supports on-demand mobility (taxi and private car), last-mile logistics, and on-demand food delivery under brands such as GrabFood and GrabExpress. The company has also developed a merchant-facing ecosystem that supports ordering, payment acceptance and loyalty functions.

Beyond transportation and delivery, Grab has expanded into financial services through Grab Financial Group, which provides digital payments via GrabPay, consumer lending, insurance distribution and small-business financial solutions.