New York State Common Retirement Fund Has $12.93 Million Stock Position in Grab Holdings Limited (NASDAQ:GRAB)

New York State Common Retirement Fund reduced its stake in Grab Holdings Limited (NASDAQ:GRAB) by 64.8% during the 4th quarter, HoldingsChannel reports. The firm owned 2,738,622 shares of the company’s stock after selling 5,038,984 shares during the quarter. New York State Common Retirement Fund’s holdings in Grab were worth $12,926,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Atria Wealth Solutions Inc. bought a new stake in Grab in the fourth quarter valued at $49,000. CIBC Asset Management Inc boosted its stake in shares of Grab by 12.7% in the 4th quarter. CIBC Asset Management Inc now owns 229,863 shares of the company’s stock valued at $1,085,000 after purchasing an additional 25,962 shares in the last quarter. NTV Asset Management LLC bought a new stake in shares of Grab in the 4th quarter worth about $118,000. Sanctuary Advisors LLC acquired a new stake in shares of Grab during the 4th quarter worth about $50,000. Finally, Principal Financial Group Inc. lifted its holdings in Grab by 4,125.6% during the 4th quarter. Principal Financial Group Inc. now owns 6,008,267 shares of the company’s stock valued at $28,359,000 after purchasing an additional 5,866,079 shares during the last quarter. 55.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GRAB has been the topic of several research analyst reports. Evercore ISI upped their price objective on shares of Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Mizuho increased their price target on Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. HSBC upgraded Grab from a “hold” rating to a “buy” rating and cut their price objective for the company from $5.50 to $5.45 in a research report on Tuesday, February 4th. Hsbc Global Res upgraded Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, Citigroup reaffirmed a “buy” rating on shares of Grab in a report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $5.62.

Grab Price Performance

Grab stock opened at $4.90 on Monday. The stock has a market cap of $19.73 billion, a price-to-earnings ratio of -245.00, a P/E/G ratio of 2.26 and a beta of 0.90. Grab Holdings Limited has a 12-month low of $2.98 and a 12-month high of $5.72. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. The business’s 50-day simple moving average is $4.76 and its 200 day simple moving average is $4.29.

Grab (NASDAQ:GRAB) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The company had revenue of $764.00 million during the quarter, compared to analysts’ expectations of $762.57 million. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. As a group, research analysts anticipate that Grab Holdings Limited will post 0.05 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.