Cigna Investments Inc. New Buys 4,595 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Cigna Investments Inc. New lifted its position in Grab Holdings Limited (NASDAQ:GRAB) by 12.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,269 shares of the company’s stock after buying an additional 4,595 shares during the quarter. Cigna Investments Inc. New’s holdings in Grab were worth $143,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its holdings in shares of Grab by 8.1% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 40,185 shares of the company’s stock worth $143,000 after acquiring an additional 3,020 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings 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 valued at $3,103,000 after purchasing an additional 5,317 shares during the last quarter. Forsta AP Fonden raised its position in Grab by 1.1% in the 1st quarter. Forsta AP Fonden now owns 552,100 shares of the company’s stock worth $1,734,000 after purchasing an additional 6,100 shares during the period. Advisors Asset Management Inc. lifted its stake in Grab by 32.2% in the first quarter. Advisors Asset Management Inc. now owns 29,739 shares of the company’s stock worth $93,000 after purchasing an additional 7,239 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in Grab by 14.7% during the first quarter. Acadian Asset Management LLC now owns 70,088 shares of the company’s stock valued at $219,000 after buying an additional 8,970 shares during the period. Institutional investors own 55.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GRAB shares. Benchmark restated a “buy” rating and set a $6.00 target price on shares of Grab in a report on Thursday, May 16th. Mizuho began coverage on shares of Grab in a research note on Thursday, June 27th. They issued an “outperform” rating and a $5.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Grab in a report on Friday, May 17th. They set a “buy” rating and a $4.50 price target for the company. Jefferies Financial Group cut their target price on Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Finally, Barclays lifted their price objective on Grab from $4.30 to $4.70 and gave the stock an “overweight” rating in a research report on Wednesday, May 22nd. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $5.02.

Grab Stock Down 7.4 %

GRAB traded down $0.25 during midday trading on Thursday, reaching $3.12. The company’s stock had a trading volume of 85,620,749 shares, compared to its average volume of 22,434,500. The company has a current ratio of 3.26, a quick ratio of 3.22 and a debt-to-equity ratio of 0.03. The stock’s 50-day moving average is $3.45 and its 200-day moving average is $3.39. Grab Holdings Limited has a 1 year low of $2.90 and a 1 year high of $3.88. The firm has a market capitalization of $12.24 billion, a price-to-earnings ratio of -44.57 and a beta of 0.81.

Grab (NASDAQ:GRAB) last released its earnings results on Wednesday, May 15th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.02). Grab had a negative return on equity of 4.62% and a negative net margin of 11.86%. The company had revenue of $653.00 million during the quarter, compared to the consensus estimate of $662.48 million. As a group, research analysts expect that Grab Holdings Limited will post -0.03 EPS for the current year.

Grab 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.