Geode Capital Management LLC Has $119.57 Million Stock Holdings in Grab Holdings Limited $GRAB

Geode Capital Management LLC grew its position in shares of Grab Holdings Limited (NASDAQ:GRAB) by 3.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,130,589 shares of the company’s stock after acquiring an additional 756,835 shares during the quarter. Geode Capital Management LLC’s holdings in Grab were worth $119,569,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GRAB. PNC Financial Services Group Inc. grew its position in Grab by 15.1% in the second quarter. PNC Financial Services Group Inc. now owns 72,095 shares of the company’s stock valued at $363,000 after purchasing an additional 9,467 shares in the last quarter. KBC Group NV boosted its stake in shares of Grab by 3.9% during the 2nd quarter. KBC Group NV now owns 1,163,328 shares of the company’s stock worth $5,851,000 after buying an additional 43,536 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of Grab by 67.4% in the 2nd quarter. ProShare Advisors LLC now owns 25,816 shares of the company’s stock valued at $130,000 after acquiring an additional 10,395 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Grab by 31.3% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,809,727 shares of the company’s stock valued at $74,493,000 after acquiring an additional 3,534,011 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Grab by 22.3% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,148,051 shares of the company’s stock valued at $10,805,000 after acquiring an additional 391,045 shares during the last quarter. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on GRAB. HSBC reissued a “hold” rating and set a $6.20 price target on shares of Grab in a research report on Wednesday, September 17th. Weiss Ratings restated a “hold (c-)” rating on shares of Grab in a report on Wednesday, October 8th. Barclays upped their price target on shares of Grab from $6.50 to $7.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. Benchmark lifted their price objective on shares of Grab from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Finally, Wall Street Zen cut shares of Grab from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $6.25.

Grab Trading Down 0.2%

GRAB stock opened at $5.31 on Thursday. Grab Holdings Limited has a one year low of $3.36 and a one year high of $6.62. The stock has a market cap of $21.38 billion, a price-to-earnings ratio of 132.78 and a beta of 0.88. The company has a fifty day moving average price of $5.93 and a two-hundred day moving average price of $5.31. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.83 and a quick ratio of 1.81.

Grab (NASDAQ:GRAB) last posted its earnings results on Tuesday, November 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). Grab had a return on equity of 1.91% and a net margin of 3.81%.The company had revenue of $873.00 million for the quarter, compared to analyst estimates of $870.44 million. Grab has set its FY 2025 guidance at EPS. Equities analysts anticipate that Grab Holdings Limited will post 0.05 EPS for the current 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.