Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in Grab Holdings Limited (NASDAQ:GRAB)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Grab Holdings Limited (NASDAQ:GRAB) by 37.4% in the 4th quarter, HoldingsChannel reports. The firm owned 1,276,503 shares of the company’s stock after purchasing an additional 347,202 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Grab were worth $6,025,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of GRAB. Baillie Gifford & Co. raised 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 buying an additional 4,259,537 shares during the last quarter. Tidal Investments LLC increased its stake in shares of Grab by 4,311.8% in the third quarter. Tidal Investments LLC now owns 445,103 shares of the company’s stock worth $1,691,000 after acquiring an additional 435,014 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Grab during the third quarter worth $22,434,000. Leibman Financial Services Inc. acquired a new position in Grab during the fourth quarter valued at $937,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in Grab by 2.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,707,627 shares of the company’s stock valued at $22,220,000 after purchasing an additional 134,243 shares during the last quarter. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Grab Stock Up 3.3 %

Shares of NASDAQ GRAB opened at $4.40 on Friday. The firm has a market cap of $17.72 billion, a price-to-earnings ratio of -220.00, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88. The company’s 50-day simple moving average is $4.67 and its 200-day simple moving average is $4.42. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. Grab Holdings Limited has a 52-week low of $2.98 and a 52-week high of $5.72.

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

Wall Street Analysts Forecast Growth

GRAB has been the subject of a number of recent research reports. Citigroup reiterated a “buy” rating on shares of Grab in a research note on Tuesday, February 4th. Barclays lifted their price target on Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Bank of America upgraded Grab from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $4.90 to $5.10 in a research report on Tuesday, January 7th. Benchmark reaffirmed a “buy” rating and set a $6.00 target price on shares of Grab in a report on Thursday, February 20th. Finally, China Renaissance downgraded shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 price target on the stock. in a report on Thursday, November 21st. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Grab presently has an average rating of “Moderate Buy” and a consensus 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.