Zurcher Kantonalbank Zurich Cantonalbank Purchases 347,202 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Grab Holdings Limited (NASDAQ:GRAB) by 37.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,276,503 shares of the company’s stock after buying an additional 347,202 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Grab were worth $6,025,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Amundi raised its holdings in shares of Grab by 12.5% during the 4th quarter. Amundi now owns 1,655,852 shares of the company’s stock worth $7,667,000 after acquiring an additional 184,208 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its position in Grab by 71.8% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 19,211 shares of the company’s stock worth $91,000 after purchasing an additional 8,030 shares during the last quarter. Candriam S.C.A. purchased a new stake in Grab during the fourth quarter valued at $80,000. Raymond James Financial Inc. bought a new position in Grab during the fourth quarter valued at $1,165,000. Finally, Assetmark Inc. purchased a new position in shares of Grab in the 4th quarter worth $124,000. 55.52% of the stock is owned by institutional investors.

Grab Stock Up 3.3 %

Grab stock opened at $4.40 on Friday. Grab Holdings Limited has a 1-year low of $2.98 and a 1-year high of $5.72. The business has a fifty day moving average price of $4.67 and a 200-day moving average price of $4.42. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67. The stock has a market capitalization of $17.72 billion, a price-to-earnings ratio of -220.00, a PEG ratio of 2.26 and a beta of 0.88.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, hitting 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 for the quarter, compared to analyst estimates of $762.57 million. Equities research analysts forecast that Grab Holdings Limited will post 0.05 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on GRAB shares. HSBC upgraded shares of Grab from a “hold” rating to a “buy” rating and decreased their target price for the company from $5.50 to $5.45 in a research report on Tuesday, February 4th. Hsbc Global Res raised Grab from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Citigroup reissued a “buy” rating on shares of Grab in a research report on Tuesday, February 4th. Barclays raised their price target on Grab from $5.50 to $6.50 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. upgraded shares of Grab from a “neutral” rating to an “overweight” rating and set a $5.60 price objective on the stock in a research report on Friday, February 21st. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Grab has an average rating of “Moderate Buy” and a consensus price target of $5.62.

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.