Grab Holdings Limited (NASDAQ:GRAB) Shares Bought by Lyell Wealth Management LP

Lyell Wealth Management LP lifted its stake in Grab Holdings Limited (NASDAQ:GRAB) by 33.3% in the second quarter, HoldingsChannel reports. The fund owned 40,000 shares of the company’s stock after purchasing an additional 10,000 shares during the quarter. Lyell Wealth Management LP’s holdings in Grab were worth $142,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its stake in Grab by 3.0% during the fourth quarter. Victory Capital Management Inc. now owns 418,172 shares of the company’s stock valued at $1,409,000 after purchasing an additional 12,171 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Grab by 0.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 944,627 shares of the company’s stock worth $3,103,000 after purchasing an additional 5,317 shares during the last quarter. Panagora Asset Management Inc. acquired a new position in shares of Grab during the 4th quarter worth $4,443,000. Robeco Institutional Asset Management B.V. increased its stake in shares of Grab by 758.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 6,031,759 shares of the company’s stock worth $20,327,000 after purchasing an additional 5,328,992 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Grab during the 4th quarter worth $146,995,000. 55.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GRAB has been the subject of several recent analyst reports. Barclays upped their price objective on shares of Grab from $4.30 to $4.70 and gave the stock an “overweight” rating in a report on Wednesday, May 22nd. Jefferies Financial Group reduced their price objective on shares of Grab from $5.00 to $4.70 and set a “buy” rating for the company in a report on Wednesday, July 17th. Benchmark reaffirmed a “buy” rating and set a $6.00 price objective on shares of Grab in a report on Wednesday, September 11th. Finally, Mizuho initiated coverage on shares of Grab in a report on Thursday, June 27th. They set an “outperform” rating and a $5.00 price target for the company. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $4.71.

Grab Trading Up 0.6 %

Shares of NASDAQ GRAB opened at $3.47 on Monday. Grab Holdings Limited has a 1-year low of $2.90 and a 1-year high of $3.77. The company has a market cap of $13.61 billion, a PE ratio of -49.57 and a beta of 0.81. The company has a current ratio of 3.00, a quick ratio of 2.97 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average of $3.33 and a two-hundred day moving average of $3.40.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Thursday, August 15th. The company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). The business had revenue of $664.00 million during the quarter, compared to the consensus estimate of $674.17 million. Grab had a negative net margin of 8.24% and a negative return on equity of 3.35%. Grab’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.03) earnings per share. As a group, equities analysts expect that Grab Holdings Limited will post -0.01 earnings per share for the current fiscal year.

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.