Royal Bank of Canada Grows Position in Grab Holdings Limited (NASDAQ:GRAB)

Royal Bank of Canada boosted its stake in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 212.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,344,265 shares of the company's stock after acquiring an additional 3,633,905 shares during the period. Royal Bank of Canada owned 0.13% of Grab worth $25,224,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Ellevest Inc. boosted its holdings in Grab by 3.3% in the fourth quarter. Ellevest Inc. now owns 82,793 shares of the company's stock valued at $391,000 after acquiring an additional 2,636 shares during the last quarter. Wedbush Securities Inc. boosted its holdings in Grab by 19.1% in the fourth quarter. Wedbush Securities Inc. now owns 21,800 shares of the company's stock valued at $103,000 after acquiring an additional 3,500 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Grab by 40.6% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 14,710 shares of the company's stock worth $69,000 after buying an additional 4,250 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Grab by 1.3% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 351,346 shares of the company's stock worth $1,658,000 after buying an additional 4,412 shares in the last quarter. Finally, Vestcor Inc boosted its holdings in shares of Grab by 16.6% during the 4th quarter. Vestcor Inc now owns 33,602 shares of the company's stock worth $159,000 after buying an additional 4,776 shares in the last quarter. 55.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GRAB has been the topic of a number of research analyst reports. Benchmark restated a "buy" rating and set a $6.00 price target on shares of Grab in a report on Thursday, February 20th. HSBC upgraded Grab from a "hold" rating to a "buy" rating and cut their price target for the stock from $5.50 to $5.45 in a report on Tuesday, February 4th. Hsbc Global Res upgraded Grab from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. Barclays increased their price target on Grab from $5.50 to $6.50 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Finally, Citigroup restated a "buy" rating on shares of Grab in a report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $5.71.

Grab Stock Down 1.3%

Shares of NASDAQ:GRAB traded down $0.07 during trading on Thursday, reaching $4.91. 7,414,489 shares of the stock were exchanged, compared to its average volume of 30,585,992. 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 Holdings Limited has a 1-year low of $2.98 and a 1-year high of $5.72. The stock has a fifty day moving average of $4.57 and a two-hundred day moving average of $4.74. The firm has a market cap of $19.75 billion, a price-to-earnings ratio of -245.25, a price-to-earnings-growth ratio of 2.26 and a beta of 0.86.

Grab (NASDAQ:GRAB - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, hitting analysts' consensus estimates of $0.01. The company had revenue of $764.00 million for the quarter, compared to analyst estimates of $762.57 million. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. Research analysts anticipate 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.