Grab Holdings Limited (NASDAQ:GRAB) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 27.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 554,371 shares of the company’s stock after selling 214,537 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Grab were worth $1,868,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Lake Street Advisors Group LLC increased its stake in shares of Grab by 0.4% during the third quarter. Lake Street Advisors Group LLC now owns 696,416 shares of the company’s stock worth $2,465,000 after buying an additional 2,972 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of Grab by 9.2% during the fourth quarter. Sequoia Financial Advisors LLC now owns 41,821 shares of the company’s stock worth $141,000 after buying an additional 3,510 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Grab by 9.5% during the third quarter. PNC Financial Services Group Inc. now owns 41,774 shares of the company’s stock worth $148,000 after buying an additional 3,632 shares during the period. Public Sector Pension Investment Board increased its stake in shares of Grab by 0.6% during the third quarter. Public Sector Pension Investment Board now owns 668,080 shares of the company’s stock worth $2,365,000 after buying an additional 4,200 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Grab by 1.7% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 301,543 shares of the company’s stock worth $1,067,000 after buying an additional 5,003 shares during the period. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Stock Performance

Shares of Grab stock opened at $3.48 on Thursday. The firm has a market capitalization of $13.65 billion, a P/E ratio of -34.80 and a beta of 0.91. Grab Holdings Limited has a 52 week low of $2.67 and a 52 week high of $3.92. The company has a quick ratio of 3.87, a current ratio of 3.90 and a debt-to-equity ratio of 0.10. The firm’s 50 day moving average is $3.25 and its two-hundred day moving average is $3.23.

Grab (NASDAQ:GRAB) last announced its earnings results on Thursday, February 22nd. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. The business had revenue of $653.00 million for the quarter, compared to analyst estimates of $633.82 million. Grab had a negative net margin of 18.43% and a negative return on equity of 6.77%. The company’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.10) earnings per share. Research analysts forecast that Grab Holdings Limited will post 0.01 EPS for the current fiscal year.

Analysts Set New Price Targets

GRAB has been the topic of a number of recent research reports. HSBC restated a “buy” rating and set a $4.30 target price on shares of Grab in a research note on Thursday, April 4th. JPMorgan Chase & Co. upgraded shares of Grab from a “neutral” rating to an “overweight” rating and increased their price target for the company from $3.60 to $3.80 in a research note on Thursday, January 18th. Finally, Barclays dropped their price target on shares of Grab from $4.50 to $4.30 and set an “overweight” rating on the stock in a research note on Monday, February 5th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Grab has a consensus rating of “Buy” and a consensus price target of $5.10.

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.