New York State Common Retirement Fund Has $12.93 Million Stock Position in Grab Holdings Limited (NASDAQ:GRAB)

New York State Common Retirement Fund lowered its stake in Grab Holdings Limited (NASDAQ:GRAB) by 64.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,738,622 shares of the company’s stock after selling 5,038,984 shares during the quarter. New York State Common Retirement Fund owned approximately 0.07% of Grab worth $12,926,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wellington Management Group LLP increased its position in shares of Grab by 13.4% in the third quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock worth $472,394,000 after acquiring an additional 14,671,388 shares in the last quarter. Baillie Gifford & Co. grew its position in Grab by 10.0% during the 4th quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company’s stock worth $221,942,000 after purchasing an additional 4,259,537 shares in the last quarter. Perpetual Ltd acquired a new stake in Grab during the 4th quarter valued at $213,177,000. State Street Corp lifted its holdings in shares of Grab by 2.3% in the third quarter. State Street Corp now owns 43,570,388 shares of the company’s stock valued at $165,567,000 after purchasing an additional 967,233 shares in the last quarter. Finally, Coronation Fund Managers Ltd. boosted its position in shares of Grab by 11.4% in the third quarter. Coronation Fund Managers Ltd. now owns 33,735,725 shares of the company’s stock worth $128,196,000 after buying an additional 3,442,581 shares during the period. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Trading Up 2.5 %

Grab stock opened at $4.90 on Monday. Grab Holdings Limited has a one year low of $2.98 and a one year high of $5.72. The company’s fifty day moving average price is $4.76 and its two-hundred day moving average price is $4.29. 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 company has a market capitalization of $19.73 billion, a price-to-earnings ratio of -245.00, a PEG ratio of 2.26 and a beta of 0.90.

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on GRAB shares. Barclays raised their price objective on Grab from $5.50 to $6.50 and gave the stock an “overweight” rating in a research report on Thursday. Benchmark reaffirmed a “buy” rating and set a $6.00 price objective on shares of Grab in a research report on Thursday. Mizuho upped their price objective on shares of Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. China Renaissance lowered shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 target price for the company. in a research note on Thursday, November 21st. Finally, Evercore ISI upped their price target on shares of Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Grab has an average rating of “Moderate Buy” and an average target price of $5.62.

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.