M&T Bank Corp Cuts Holdings in Grab Holdings Limited (NASDAQ:GRAB)

M&T Bank Corp decreased its position in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 42.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 162,167 shares of the company's stock after selling 121,063 shares during the quarter. M&T Bank Corp's holdings in Grab were worth $735,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GRAB. Callan Capital LLC lifted its position in shares of Grab by 10.9% during the 1st quarter. Callan Capital LLC now owns 34,603 shares of the company's stock worth $157,000 after buying an additional 3,407 shares during the last quarter. TD Private Client Wealth LLC lifted its position in shares of Grab by 110.2% during the 1st quarter. TD Private Client Wealth LLC now owns 16,813 shares of the company's stock valued at $76,000 after acquiring an additional 8,814 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Grab by 21.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 365,947 shares of the company's stock worth $1,658,000 after purchasing an additional 63,547 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Grab by 10.6% during the 1st quarter. Bank of New York Mellon Corp now owns 4,004,362 shares of the company's stock worth $18,140,000 after purchasing an additional 384,917 shares in the last quarter. Finally, Huntleigh Advisors Inc. purchased a new position in Grab during the first quarter worth about $285,000. 55.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GRAB shares. JPMorgan Chase & Co. decreased their price target on shares of Grab from $5.60 to $5.30 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. CLSA upgraded Grab to a "moderate buy" rating in a report on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.71.

Grab Stock Up 0.6%

Shares of Grab stock traded up $0.03 during trading on Tuesday, hitting $5.04. The company's stock had a trading volume of 35,172,613 shares, compared to its average volume of 33,490,700. Grab Holdings Limited has a 52 week low of $2.98 and a 52 week high of $5.72. The company has a market capitalization of $20.30 billion, a PE ratio of 252.13 and a beta of 0.84. The company has a fifty day simple moving average of $4.88 and a two-hundred day simple moving average of $4.67. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.46 and a current ratio of 2.49.

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.