Grab Holdings Limited (NASDAQ:GRAB) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 939.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,543,015 shares of the company’s stock after purchasing an additional 6,817,452 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.19% of Grab worth $35,603,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GRAB. State of New Jersey Common Pension Fund D boosted its position in shares of Grab by 7.5% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 815,740 shares of the company’s stock worth $3,100,000 after purchasing an additional 57,000 shares in the last quarter. Metis Global Partners LLC lifted its position in Grab by 10.9% during the 3rd quarter. Metis Global Partners LLC now owns 53,262 shares of the company’s stock worth $202,000 after acquiring an additional 5,221 shares during the period. CIBC Asset Management Inc lifted its position in Grab by 4.9% during the 3rd quarter. CIBC Asset Management Inc now owns 203,901 shares of the company’s stock worth $775,000 after acquiring an additional 9,466 shares during the period. Empowered Funds LLC lifted its position in Grab by 7.7% during the 3rd quarter. Empowered Funds LLC now owns 43,788 shares of the company’s stock worth $166,000 after acquiring an additional 3,147 shares during the period. Finally, Swiss National Bank lifted its position in Grab by 0.9% during the 3rd quarter. Swiss National Bank now owns 6,274,800 shares of the company’s stock worth $23,844,000 after acquiring an additional 55,100 shares during the period. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Price Performance

Shares of Grab stock opened at $4.22 on Thursday. 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 twelve month low of $2.98 and a twelve month high of $5.72. The business has a 50-day moving average price of $4.69 and a 200 day moving average price of $4.41. The firm has a market cap of $16.99 billion, a PE ratio of -211.00, a P/E/G ratio of 2.26 and a beta of 0.88.

Grab (NASDAQ:GRAB) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, meeting 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 during the quarter, compared to analyst estimates of $762.57 million. Sell-side analysts predict that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GRAB has been the subject of a number of research reports. JPMorgan Chase & Co. raised Grab from a “neutral” rating to an “overweight” rating and set a $5.60 price target for the company in a research report on Friday, February 21st. Bank of America raised Grab from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $4.90 to $5.10 in a research report on Tuesday, January 7th. Mizuho lifted their price objective on Grab from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Hsbc Global Res upgraded Grab from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Finally, Barclays lifted 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. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Grab has an average rating of “Moderate Buy” and an average target price of $5.62.

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.