California Public Employees Retirement System Lowers Holdings in Grab Holdings Limited (NASDAQ:GRAB)

California Public Employees Retirement System lowered its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 9.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,325,271 shares of the company’s stock after selling 468,772 shares during the quarter. California Public Employees Retirement System’s holdings in Grab were worth $20,415,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Baillie Gifford & Co. boosted its stake in Grab by 10.0% in the 4th quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company’s stock worth $221,942,000 after purchasing an additional 4,259,537 shares during the period. Tidal Investments LLC boosted its position in shares of Grab by 4,311.8% during the third quarter. Tidal Investments LLC now owns 445,103 shares of the company’s stock worth $1,691,000 after acquiring an additional 435,014 shares during the last quarter. Leibman Financial Services Inc. purchased a new position in Grab during the fourth quarter valued at $937,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in Grab by 2.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,707,627 shares of the company’s stock valued at $22,220,000 after acquiring an additional 134,243 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Grab by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 20,666,618 shares of the company’s stock worth $77,414,000 after purchasing an additional 591,898 shares in the last quarter. Institutional investors own 55.52% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GRAB. Benchmark reaffirmed a “buy” rating and issued a $6.00 target price on shares of Grab in a report on Thursday, February 20th. Citigroup reaffirmed a “buy” rating on shares of Grab in a research note on Tuesday, February 4th. HSBC upgraded Grab from a “hold” rating to a “buy” rating and lowered their target price for the company from $5.50 to $5.45 in a research report on Tuesday, February 4th. Hsbc Global Res upgraded shares of Grab from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, Barclays increased their price objective on shares of Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Grab currently has a consensus rating of “Moderate Buy” and an average target price of $5.62.

Grab Stock Performance

Shares of NASDAQ:GRAB opened at $4.26 on Friday. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $17.16 billion, a price-to-earnings ratio of -213.00, a PEG ratio of 2.26 and a beta of 0.88. Grab Holdings Limited has a 12 month low of $2.98 and a 12 month high of $5.72. The firm’s 50-day moving average is $4.68 and its 200 day moving average is $4.54.

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 the consensus estimate of $0.01. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. The firm had revenue of $764.00 million for the quarter, compared to the consensus estimate of $762.57 million. Research analysts predict that Grab Holdings Limited will post 0.05 EPS for the current 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.