Tidal Investments LLC Acquires 435,014 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Tidal Investments LLC increased its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 4,311.8% in the third quarter, Holdings Channel.com reports. The fund owned 445,103 shares of the company’s stock after buying an additional 435,014 shares during the quarter. Tidal Investments LLC’s holdings in Grab were worth $1,691,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GRAB. Baillie Gifford & Co. purchased a new position in Grab during the 2nd quarter worth $166,587,000. Point72 Asset Management L.P. bought a new stake in Grab during the 2nd quarter valued at $57,696,000. Wellington Management Group LLP raised its position in Grab by 13.4% during the 3rd quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock valued at $472,394,000 after purchasing an additional 14,671,388 shares in the last quarter. Tree Line Advisors Hong Kong Ltd. bought a new stake in Grab during the 3rd quarter valued at $38,000,000. Finally, Marshall Wace LLP raised its position in Grab by 39.7% during the 2nd quarter. Marshall Wace LLP now owns 30,405,993 shares of the company’s stock valued at $107,941,000 after purchasing an additional 8,635,310 shares in the last quarter. 55.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on GRAB. Hsbc Global Res lowered Grab from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Bank of America lowered Grab from a “buy” rating to an “underperform” rating and set a $4.90 target price for the company. in a research report on Friday, November 22nd. HSBC lowered Grab from a “buy” rating to a “hold” rating and lifted their target price for the company from $4.25 to $5.50 in a research report on Thursday, December 5th. JPMorgan Chase & Co. boosted their price target on Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Finally, Mizuho boosted their price target on Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Grab has a consensus rating of “Moderate Buy” and a consensus price target of $5.53.

Grab Trading Up 0.2 %

Shares of NASDAQ:GRAB opened at $5.14 on Wednesday. The business’s 50-day moving average is $4.61 and its 200 day moving average is $3.87. Grab Holdings Limited has a 1 year low of $2.90 and a 1 year high of $5.72. The firm has a market capitalization of $20.70 billion, a P/E ratio of -257.00 and a beta of 0.90. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67.

Grab (NASDAQ:GRAB) last announced its earnings results on Monday, November 11th. The company reported $0.01 earnings per share (EPS) for the quarter. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. The company had revenue of $716.00 million for the quarter, compared to analyst estimates of $705.40 million. During the same period in the prior year, the company posted ($0.02) EPS. On average, research analysts predict that Grab Holdings Limited will post -0.03 earnings per share for the current fiscal 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.