Choreo LLC Has $124,000 Position in Grab Holdings Limited (NASDAQ:GRAB)

Choreo LLC trimmed its position in Grab Holdings Limited (NASDAQ:GRAB) by 13.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 26,131 shares of the company’s stock after selling 4,023 shares during the period. Choreo LLC’s holdings in Grab were worth $124,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP raised its holdings in Grab by 13.4% in the third quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock worth $472,394,000 after purchasing an additional 14,671,388 shares during the period. Perpetual Ltd bought a new stake in shares of Grab in the fourth quarter worth about $213,177,000. State Street Corp raised its position in shares of Grab by 2.3% during the third quarter. State Street Corp now owns 43,570,388 shares of the company’s stock worth $165,567,000 after purchasing an additional 967,233 shares during the period. Coronation Fund Managers Ltd. lifted its holdings in shares of Grab by 11.4% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 33,735,725 shares of the company’s stock valued at $128,196,000 after purchasing an additional 3,442,581 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Grab by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 20,666,618 shares of the company’s stock valued at $77,414,000 after purchasing an additional 591,898 shares during the period. Institutional investors own 55.52% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Benchmark reaffirmed a “buy” rating and issued a $6.00 price target on shares of Grab in a research note on Tuesday, November 12th. Bank of America raised Grab from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $4.90 to $5.10 in a research note on Tuesday, January 7th. Barclays upped their price objective on Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Evercore ISI lifted their target price on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Finally, China Renaissance downgraded Grab from a “buy” rating to a “hold” rating and set a $5.40 price target for the company. in a research report on Thursday, November 21st. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $5.54.

Grab Stock Down 1.2 %

Grab stock opened at $4.90 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67. The company’s 50-day moving average is $4.79 and its 200-day moving average is $4.22. The firm has a market capitalization of $19.73 billion, a PE ratio of -245.00, a P/E/G ratio of 1.95 and a beta of 0.90. Grab Holdings Limited has a fifty-two week low of $2.98 and a fifty-two week high of $5.72.

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.