Citigroup Inc. Raises Position in Grab Holdings Limited (NASDAQ:GRAB)

Citigroup Inc. grew its position in Grab Holdings Limited (NASDAQ:GRAB) by 83.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,277,673 shares of the company’s stock after acquiring an additional 6,503,051 shares during the period. Citigroup Inc.’s holdings in Grab were worth $54,255,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Grab by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,429,899 shares of the company’s stock valued at $5,434,000 after acquiring an additional 48,596 shares in the last quarter. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Grab in the third quarter valued at about $1,986,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Grab in the third quarter valued at about $2,757,000. Swiss National Bank boosted its holdings in shares of Grab by 0.9% in the third quarter. Swiss National Bank now owns 6,274,800 shares of the company’s stock valued at $23,844,000 after acquiring an additional 55,100 shares in the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of Grab by 7.7% in the third quarter. Empowered Funds LLC now owns 43,788 shares of the company’s stock valued at $166,000 after acquiring an additional 3,147 shares in the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Grab Stock Down 10.6 %

Shares of NASDAQ GRAB opened at $5.07 on Friday. Grab Holdings Limited has a 12-month low of $2.90 and a 12-month high of $5.72. The company has a market capitalization of $20.42 billion, a PE ratio of -253.50 and a beta of 0.81. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67. The firm’s 50-day moving average is $4.09 and its two-hundred day moving average is $3.68.

Grab (NASDAQ:GRAB) last announced its quarterly earnings results on Monday, November 11th. The company reported $0.01 earnings per share (EPS) for the quarter. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The company had revenue of $716.00 million for the quarter, compared to the consensus estimate of $705.40 million. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. Equities analysts anticipate that Grab Holdings Limited will post -0.03 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Bank of America downgraded shares of Grab from a “buy” rating to an “underperform” rating and set a $4.90 target price on the stock. in a report on Friday. China Renaissance downgraded shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 price objective on the stock. in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Mizuho boosted their price objective on shares of Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Evercore ISI boosted their price objective on shares of Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Grab has an average rating of “Moderate Buy” and a consensus target price of $5.42.

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.