Teacher Retirement System of Texas Sells 572,769 Shares of Grab Holdings Limited $GRAB

Teacher Retirement System of Texas reduced its position in Grab Holdings Limited (NASDAQ:GRAB) by 28.8% in the third quarter, Holdings Channel.com reports. The fund owned 1,419,220 shares of the company’s stock after selling 572,769 shares during the quarter. Teacher Retirement System of Texas’ holdings in Grab were worth $8,544,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of Grab by 66.5% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 10,770,976 shares of the company’s stock valued at $64,782,000 after purchasing an additional 4,302,224 shares in the last quarter. Nordea Investment Management AB boosted its stake in Grab by 15.7% during the third quarter. Nordea Investment Management AB now owns 19,886,007 shares of the company’s stock valued at $120,509,000 after buying an additional 2,695,472 shares during the period. Stanley Laman Group Ltd. purchased a new position in Grab during the third quarter worth about $1,204,000. Alberta Investment Management Corp purchased a new position in Grab during the second quarter worth about $1,215,000. Finally, Hsbc Holdings PLC increased its stake in Grab by 13.6% in the 2nd quarter. Hsbc Holdings PLC now owns 7,935,800 shares of the company’s stock worth $39,931,000 after acquiring an additional 949,297 shares during the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Grab Stock Up 0.7%

Shares of GRAB opened at $4.58 on Monday. Grab Holdings Limited has a 1 year low of $3.36 and a 1 year high of $6.62. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.83 and a quick ratio of 1.81. The stock has a 50 day simple moving average of $5.02 and a two-hundred day simple moving average of $5.35. The firm has a market cap of $18.44 billion, a P/E ratio of 114.53 and a beta of 0.90.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates 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. On average, analysts forecast that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on GRAB shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $7.00 price target on shares of Grab in a report on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Grab in a research note on Thursday. Wall Street Zen raised shares of Grab from a “sell” rating to a “hold” rating in a research note on Friday. HSBC raised shares of Grab from a “hold” rating to a “buy” rating and set a $6.20 price target on the stock in a report on Friday, January 16th. Finally, Hsbc Global Res raised shares of Grab from a “hold” rating to a “strong-buy” rating in a report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $6.58.

Grab 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.