Employees Retirement System of Texas Buys Shares of 40,353 Grab Holdings Limited (NASDAQ:GRAB)

Employees Retirement System of Texas purchased a new position in shares of Grab Holdings Limited (NASDAQ:GRAB) in the fourth quarter, HoldingsChannel reports. The firm purchased 40,353 shares of the company’s stock, valued at approximately $190,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of Montreal Can boosted its position in shares of Grab by 68.3% during the 4th quarter. Bank of Montreal Can now owns 1,225,272 shares of the company’s stock worth $5,783,000 after purchasing an additional 497,334 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Grab by 137.6% in the fourth quarter. Russell Investments Group Ltd. now owns 12,094,662 shares of the company’s stock valued at $57,107,000 after buying an additional 7,004,116 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Grab by 251.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 302,400 shares of the company’s stock valued at $1,427,000 after buying an additional 216,239 shares during the period. Wedbush Securities Inc. lifted its stake in Grab by 19.1% during the 4th quarter. Wedbush Securities Inc. now owns 21,800 shares of the company’s stock worth $103,000 after acquiring an additional 3,500 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in Grab by 1,032.5% during the 4th quarter. Wells Fargo & Company MN now owns 225,155 shares of the company’s stock valued at $1,063,000 after acquiring an additional 205,274 shares during the period. 55.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GRAB has been the topic of a number of recent research reports. Benchmark reiterated a “buy” rating and set a $6.00 price target on shares of Grab in a research note on Thursday, February 20th. Bank of America upgraded shares of Grab from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $4.90 to $5.10 in a report on Tuesday, January 7th. Hsbc Global Res upgraded shares of Grab from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Barclays increased their price objective on Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, Citigroup reissued a “buy” rating on shares of Grab in a research note on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.62.

Grab Trading Down 6.7 %

NASDAQ:GRAB opened at $3.48 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. Grab Holdings Limited has a 1 year low of $2.98 and a 1 year high of $5.72. The stock has a market cap of $14.01 billion, a P/E ratio of -174.00, a P/E/G ratio of 2.26 and a beta of 0.88. The stock has a 50-day simple moving average of $4.64 and a 200-day simple moving average of $4.56.

Grab (NASDAQ:GRAB) last released its quarterly earnings data 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 net margin of 3.72% and a negative return on equity of 1.63%. The company had revenue of $764.00 million for the quarter, compared to analysts’ expectations of $762.57 million. As a group, analysts anticipate that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

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.