Citigroup Inc. Has $65.63 Million Stake in Grab Holdings Limited (NASDAQ:GRAB)

Key Points

• Citigroup Inc. has increased its stake in Grab Holdings Limited by 50.9%, now holding approximately 14.5 million shares worth around $65.63 million.
• Grab's stock has experienced a slight decline of 1.4%, currently trading at $4.88 with a 52-week low of $3.08 and high of $5.72.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for Grab, with a consensus price target of $5.82, despite JPMorgan lowering its target price from $5.60 to $5.30.

Citigroup Inc. increased its position in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 50.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,487,011 shares of the company's stock after acquiring an additional 4,889,032 shares during the quarter. Citigroup Inc. owned about 0.36% of Grab worth $65,626,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Sequoia Financial Advisors LLC boosted its stake in Grab by 6.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 45,934 shares of the company's stock worth $208,000 after acquiring an additional 2,581 shares during the last quarter. Ellevest Inc. increased its holdings in shares of Grab by 3.3% in the fourth quarter. Ellevest Inc. now owns 82,793 shares of the company's stock worth $391,000 after acquiring an additional 2,636 shares in the last quarter. Leibman Financial Services Inc. increased its holdings in shares of Grab by 1.7% in the first quarter. Leibman Financial Services Inc. now owns 201,858 shares of the company's stock worth $914,000 after acquiring an additional 3,331 shares in the last quarter. Callan Capital LLC increased its holdings in shares of Grab by 10.9% in the first quarter. Callan Capital LLC now owns 34,603 shares of the company's stock worth $157,000 after acquiring an additional 3,407 shares in the last quarter. Finally, Wedbush Securities Inc. increased its holdings in shares of Grab by 19.1% in the fourth quarter. Wedbush Securities Inc. now owns 21,800 shares of the company's stock worth $103,000 after acquiring an additional 3,500 shares in the last quarter. Institutional investors own 55.52% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. dropped their target price on shares of Grab from $5.60 to $5.30 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $5.82.

Grab Stock Down 1.4%

Shares of Grab stock opened at $4.88 on Friday. Grab Holdings Limited has a 52-week low of $3.08 and a 52-week high of $5.72. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.87 and a current ratio of 1.88. The business's 50 day simple moving average is $4.95 and its 200 day simple moving average is $4.74. The firm has a market cap of $19.65 billion, a PE ratio of 122.03 and a beta of 0.84.

Grab (NASDAQ:GRAB - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The company had revenue of $819.00 million during the quarter, compared to analysts' expectations of $809.41 million. Grab had a net margin of 3.65% and a return on equity of 1.75%. On average, analysts predict that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal 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.

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