CIBC Asset Management Inc Boosts Position in Grab Holdings Limited (NASDAQ:GRAB)

CIBC Asset Management Inc increased its stake in Grab Holdings Limited (NASDAQ:GRAB) by 12.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 229,863 shares of the company’s stock after buying an additional 25,962 shares during the period. CIBC Asset Management Inc’s holdings in Grab were worth $1,085,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in GRAB. Blue Trust Inc. increased its stake in Grab by 53.6% in the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after buying an additional 3,408 shares during the period. Traynor Capital Management Inc. purchased a new position in Grab in the 3rd quarter worth about $41,000. SeaBridge Investment Advisors LLC purchased a new position in Grab in the 4th quarter worth about $48,000. Sanctuary Advisors LLC purchased a new position in Grab in the 4th quarter worth about $50,000. Finally, Glenmede Trust Co. NA purchased a new position in Grab in the 3rd quarter worth about $53,000. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GRAB. Hsbc Global Res raised shares of Grab from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Mizuho raised their target price on shares of Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Evercore ISI raised their target price on shares of Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Barclays raised their target price on shares of Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a research report on Thursday. Finally, HSBC raised shares of Grab from a “hold” rating to a “buy” rating and cut their target price for the company from $5.50 to $5.45 in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $5.62.

Grab Stock Up 2.5 %

GRAB stock opened at $4.90 on Friday. The firm has a 50 day moving average of $4.76 and a 200 day moving average of $4.29. The stock has a market capitalization of $19.73 billion, a PE ratio of -245.00, a price-to-earnings-growth ratio of 2.26 and a beta of 0.90. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. Grab Holdings Limited has a 52 week low of $2.98 and a 52 week high of $5.72.

Grab (NASDAQ:GRAB) last released its earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The company had revenue of $764.00 million during the quarter, compared to analysts’ expectations of $762.57 million. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. Sell-side analysts forecast that Grab Holdings Limited will post 0.05 earnings per share for the current year.

Grab 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.