Panagora Asset Management Inc. Purchases 142,889 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Panagora Asset Management Inc. lifted its position in Grab Holdings Limited (NASDAQ:GRAB) by 13.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,222,998 shares of the company’s stock after purchasing an additional 142,889 shares during the quarter. Panagora Asset Management Inc.’s holdings in Grab were worth $4,342,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Grab by 31.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 958,770 shares of the company’s stock worth $3,404,000 after buying an additional 230,681 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Grab by 1.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 17,079,853 shares of the company’s stock worth $60,633,000 after acquiring an additional 226,455 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Grab by 52.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,837,740 shares of the company’s stock valued at $17,174,000 after purchasing an additional 1,662,479 shares in the last quarter. Baillie Gifford & Co. bought a new position in shares of Grab during the 2nd quarter valued at $166,587,000. Finally, Accredited Investors Inc. purchased a new position in Grab in the 2nd quarter worth $190,000. 55.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GRAB has been the subject of several analyst reports. Barclays upped their price target on shares of Grab from $4.30 to $4.70 and gave the company an “overweight” rating in a research report on Wednesday, May 22nd. Benchmark reaffirmed a “buy” rating and issued a $6.00 price target on shares of Grab in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft began coverage on Grab in a research note on Friday, May 17th. They set a “buy” rating and a $4.50 price objective for the company. Jefferies Financial Group decreased their target price on shares of Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Finally, Mizuho assumed coverage on shares of Grab in a research report on Thursday, June 27th. They set an “outperform” rating and a $5.00 price target for the company. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $4.71.

Grab Trading Up 0.6 %

GRAB stock traded up $0.02 on Friday, reaching $3.22. The company’s stock had a trading volume of 17,644,756 shares, compared to its average volume of 22,410,504. The firm has a market cap of $12.63 billion, a PE ratio of -45.71 and a beta of 0.81. The business has a fifty day simple moving average of $3.37 and a two-hundred day simple moving average of $3.39. Grab Holdings Limited has a 12-month low of $2.90 and a 12-month high of $3.88. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.22 and a current ratio of 3.26.

Grab (NASDAQ:GRAB) last announced its earnings results on Thursday, August 15th. The company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). Grab had a negative net margin of 11.86% and a negative return on equity of 4.62%. The firm had revenue of $664.00 million for the quarter, compared to analyst estimates of $674.17 million. During the same quarter in the previous year, the firm posted ($0.03) EPS. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. As a group, research analysts forecast that Grab Holdings Limited will post -0.03 EPS for the current year.

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.