New York State Common Retirement Fund Has $29.56 Million Stock Holdings in Grab Holdings Limited (NASDAQ:GRAB)

New York State Common Retirement Fund grew its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 25.7% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 7,777,606 shares of the company’s stock after acquiring an additional 1,588,169 shares during the quarter. New York State Common Retirement Fund owned about 0.20% of Grab worth $29,555,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Sequoia Financial Advisors LLC boosted its position in shares of Grab by 8.1% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 40,185 shares of the company’s stock worth $143,000 after acquiring an additional 3,020 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Grab by 53.6% in the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after purchasing an additional 3,408 shares in the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in shares of Grab by 37.0% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock valued at $50,000 after purchasing an additional 3,795 shares during the last quarter. Cigna Investments Inc. New raised its holdings in shares of Grab by 12.9% during the 2nd quarter. Cigna Investments Inc. New now owns 40,269 shares of the company’s stock worth $143,000 after buying an additional 4,595 shares in the last quarter. Finally, First Trust Direct Indexing L.P. lifted its position in shares of Grab by 34.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 18,435 shares of the company’s stock worth $70,000 after buying an additional 4,725 shares during the last quarter. 55.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GRAB shares. Jefferies Financial Group lowered their target price on Grab from $5.00 to $4.70 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Daiwa Capital Markets started coverage on Grab in a report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price target on the stock. Finally, Benchmark reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Grab in a research note on Wednesday, September 11th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Grab presently has an average rating of “Buy” and a consensus price target of $4.70.

Grab Trading Down 0.2 %

Shares of GRAB stock opened at $4.07 on Monday. The stock has a 50-day moving average of $3.66 and a 200-day moving average of $3.54. The company has a current ratio of 3.00, a quick ratio of 2.97 and a debt-to-equity ratio of 0.03. The stock has a market cap of $15.97 billion, a price-to-earnings ratio of -81.40 and a beta of 0.81. Grab Holdings Limited has a 1-year low of $2.90 and a 1-year high of $4.32.

Grab (NASDAQ:GRAB) last released its earnings results on Thursday, August 15th. The company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). The business had revenue of $664.00 million during the quarter, compared to the consensus estimate of $674.17 million. Grab had a negative net margin of 8.24% and a negative return on equity of 3.35%. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.03) EPS. On average, equities research analysts forecast that Grab Holdings Limited will post -0.04 earnings per share 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.