Nuveen LLC Invests $85.14 Million in Grab Holdings Limited (NASDAQ:GRAB)

Key Points

• Nuveen LLC invested approximately $85.14 million in Grab Holdings Limited, acquiring 18,795,317 shares, representing about 0.47% of the company.
• Analysts have adjusted their target price for Grab, with JPMorgan Chase & Co. lowering it from $5.60 to $5.30, while maintaining an "overweight" rating on the stock.
• Grab Holdings reported a quarterly EPS of $0.01, matching consensus estimates, along with revenues of $819 million that slightly exceeded expectations.

Nuveen LLC acquired a new position in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,795,317 shares of the company's stock, valued at approximately $85,143,000. Nuveen LLC owned about 0.47% of Grab at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Garde Capital Inc. acquired a new position in Grab in the first quarter worth $29,000. Proficio Capital Partners LLC bought a new position in Grab in the 1st quarter worth approximately $45,000. J2 Capital Management Inc acquired a new position in Grab during the 1st quarter worth $45,000. Perigon Wealth Management LLC acquired a new stake in shares of Grab in the 1st quarter valued at $48,000. Finally, Intelligence Driven Advisers LLC acquired a new position in shares of Grab during the first quarter valued at $48,000. Institutional investors own 55.52% of the company's stock.

Analyst Ratings Changes

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

Grab Price Performance

GRAB opened at $4.99 on Wednesday. Grab Holdings Limited has a 12 month low of $3.08 and a 12 month high of $5.72. The company has a fifty day simple moving average of $4.95 and a 200 day simple moving average of $4.75. The stock has a market cap of $20.09 billion, a P/E ratio of 124.78 and a beta of 0.84. The company has a quick ratio of 1.87, a current ratio of 1.88 and a debt-to-equity ratio of 0.04.

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

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.

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