Royal Bank of Canada Increases Stock Holdings in Grab Holdings Limited (NASDAQ:GRAB)

Royal Bank of Canada lifted its holdings in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 212.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,344,265 shares of the company's stock after purchasing an additional 3,633,905 shares during the quarter. Royal Bank of Canada owned about 0.13% of Grab worth $25,224,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Twin Tree Management LP acquired a new stake in Grab during the fourth quarter valued at $25,000. Global Retirement Partners LLC acquired a new stake in Grab in the fourth quarter valued at approximately $30,000. Campbell Capital Management Inc. purchased a new stake in shares of Grab in the fourth quarter valued at approximately $30,000. TD Private Client Wealth LLC raised its stake in shares of Grab by 7,238.5% during the 4th quarter. TD Private Client Wealth LLC now owns 7,999 shares of the company's stock worth $38,000 after buying an additional 7,890 shares during the period. Finally, Allianz SE purchased a new position in Grab during the fourth quarter valued at $44,000. Institutional investors and hedge funds own 55.52% of the company's stock.

Grab Price Performance

GRAB traded up $0.02 during midday trading on Tuesday, reaching $4.97. 25,499,716 shares of the company's stock were exchanged, compared to its average volume of 30,639,637. The business's 50-day moving average price is $4.55 and its 200 day moving average price is $4.73. The stock has a market capitalization of $20.01 billion, a PE ratio of -248.50, a P/E/G ratio of 2.26 and a beta of 0.86. Grab Holdings Limited has a 1-year low of $2.98 and a 1-year high of $5.72. 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 (NASDAQ:GRAB - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.01 EPS for the quarter, meeting analysts' consensus estimates of $0.01. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. The business had revenue of $764.00 million during the quarter, compared to the consensus estimate of $762.57 million. As a group, equities analysts anticipate that Grab Holdings Limited will post 0.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GRAB has been the subject of several recent research reports. Hsbc Global Res raised Grab from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 4th. JPMorgan Chase & Co. reduced their price objective on Grab from $5.60 to $5.30 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Barclays raised their target price on Grab from $5.50 to $6.50 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. HSBC upgraded Grab from a "hold" rating to a "buy" rating and lowered their price objective for the stock from $5.50 to $5.45 in a research report on Tuesday, February 4th. Finally, Benchmark restated a "buy" rating and issued a $6.00 target price on shares of Grab in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Grab presently has an average rating of "Moderate Buy" and a consensus target price of $5.71.

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.