Raymond James Financial Inc. Invests $1.17 Million in Grab Holdings Limited (NASDAQ:GRAB)

Raymond James Financial Inc. acquired a new position in Grab Holdings Limited (NASDAQ:GRAB) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 246,731 shares of the company’s stock, valued at approximately $1,165,000.

Other institutional investors also recently bought and sold shares of the company. FNY Investment Advisers LLC lifted its holdings in Grab by 13.9% during the fourth quarter. FNY Investment Advisers LLC now owns 28,700 shares of the company’s stock valued at $135,000 after purchasing an additional 3,500 shares in the last quarter. Traynor Capital Management Inc. raised its position in shares of Grab by 47.7% during the 4th quarter. Traynor Capital Management Inc. now owns 15,800 shares of the company’s stock valued at $75,000 after purchasing an additional 5,100 shares during the period. Callan Capital LLC lifted its stake in shares of Grab by 20.4% during the 4th quarter. Callan Capital LLC now owns 31,196 shares of the company’s stock valued at $147,000 after buying an additional 5,290 shares in the last quarter. M&T Bank Corp boosted its holdings in Grab by 1.7% in the 3rd quarter. M&T Bank Corp now owns 335,179 shares of the company’s stock worth $1,274,000 after buying an additional 5,545 shares during the period. Finally, Blue Trust Inc. increased its stake in Grab by 57.1% in the 4th quarter. Blue Trust Inc. now owns 15,348 shares of the company’s stock worth $72,000 after buying an additional 5,581 shares in the last quarter. 55.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Barclays boosted their price objective on Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Bank of America raised Grab from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $4.90 to $5.10 in a report on Tuesday, January 7th. Citigroup reaffirmed a “buy” rating on shares of Grab in a report on Tuesday, February 4th. Benchmark reissued a “buy” rating and issued a $6.00 target price on shares of Grab in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. raised shares of Grab from a “neutral” rating to an “overweight” rating and set a $5.60 target price for the company in a research note on Friday, February 21st. Two equities research 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.62.

Grab Price Performance

GRAB stock opened at $4.26 on Friday. Grab Holdings Limited has a 52 week low of $2.98 and a 52 week high of $5.72. The firm has a market capitalization of $17.16 billion, a P/E ratio of -213.00, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88. The company has a fifty day simple moving average of $4.68 and a two-hundred day simple moving average of $4.54. 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 (NASDAQ:GRAB) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. The firm had revenue of $764.00 million during the quarter, compared to the consensus estimate of $762.57 million. Analysts anticipate that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal 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.