Citigroup Inc. Buys 17,160,661 Shares of Grab Holdings Limited $GRAB

Key Points

• Citigroup Inc. raised its stake in Grab by 112.6%, acquiring 17,160,661 shares to hold 32,398,782 shares (about 0.80% of the company) valued at $195,041,000 at quarter-end.
• Several other institutional investors (including Oversea Chinese Banking, Nordea, Allianz and Mediolanum) also increased positions, and hedge funds/institutions now own 55.52% of Grab’s stock.
• Wall Street has a consensus Buy rating with an average price target of $6.47, and Grab recently beat EPS estimates ($0.04 vs. $0.01) while reporting slightly below-consensus revenue.

Citigroup Inc. lifted its position in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 112.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,398,782 shares of the company's stock after purchasing an additional 17,160,661 shares during the period. Citigroup Inc. owned 0.80% of Grab worth $195,041,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of Grab by 66.5% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 10,770,976 shares of the company's stock worth $64,782,000 after acquiring an additional 4,302,224 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Grab by 15.7% in the 3rd quarter. Nordea Investment Management AB now owns 19,886,007 shares of the company's stock worth $120,509,000 after purchasing an additional 2,695,472 shares in the last quarter. Allianz Asset Management GmbH boosted its position in shares of Grab by 83.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 967,530 shares of the company's stock worth $5,825,000 after purchasing an additional 439,748 shares in the last quarter. Stanley Laman Group Ltd. acquired a new position in Grab during the 3rd quarter valued at about $1,204,000. Finally, Mediolanum International Funds Ltd increased its position in Grab by 131.5% during the 3rd quarter. Mediolanum International Funds Ltd now owns 1,697,761 shares of the company's stock valued at $10,373,000 after buying an additional 964,475 shares in the last quarter. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group restated a "buy" rating and set a $7.00 price target on shares of Grab in a research note on Tuesday, November 4th. Benchmark reiterated a "buy" rating on shares of Grab in a research note on Thursday, February 12th. Mizuho set a $7.00 target price on shares of Grab in a research report on Tuesday, November 4th. HSBC raised shares of Grab from a "hold" rating to a "buy" rating and set a $6.20 price target for the company in a report on Friday, January 16th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Grab in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Grab currently has a consensus rating of "Buy" and an average price target of $6.47.

Grab Price Performance

Shares of NASDAQ:GRAB opened at $4.38 on Friday. Grab Holdings Limited has a twelve month low of $3.36 and a twelve month high of $6.62. The company has a current ratio of 1.75, a quick ratio of 1.73 and a debt-to-equity ratio of 0.06. The company has a market cap of $17.64 billion, a PE ratio of 146.05, a price-to-earnings-growth ratio of 1.02 and a beta of 0.92. The company's 50 day moving average is $4.66 and its 200 day moving average is $5.24.

Grab (NASDAQ:GRAB - Get Free Report) last released its quarterly earnings data on Wednesday, February 11th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.01 by $0.03. The business had revenue of $906.00 million for the quarter, compared to the consensus estimate of $942.08 million. Grab had a net margin of 7.92% and a return on equity of 4.09%. On average, sell-side analysts forecast that Grab Holdings Limited will post 0.05 EPS for the current year.

Grab Company Profile

Grab Holdings Inc is a Singapore-based technology company that operates a consumer-facing "super app" across Southeast Asia offering services spanning ride-hailing, food and package delivery, and digital payments. Its platform connects consumers, drivers, merchants and delivery partners through mobile applications and supports on-demand mobility (taxi and private car), last-mile logistics, and on-demand food delivery under brands such as GrabFood and GrabExpress. The company has also developed a merchant-facing ecosystem that supports ordering, payment acceptance and loyalty functions.

Beyond transportation and delivery, Grab has expanded into financial services through Grab Financial Group, which provides digital payments via GrabPay, consumer lending, insurance distribution and small-business financial solutions.

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