Bank of Nova Scotia Acquires New Shares in Grab Holdings Limited (NASDAQ:GRAB)

Bank of Nova Scotia bought a new position in shares of Grab Holdings Limited (NASDAQ:GRAB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 29,597 shares of the company’s stock, valued at approximately $140,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GRAB. Twin Tree Management LP acquired a new position in Grab during the 4th quarter worth approximately $25,000. Campbell Capital Management Inc. acquired a new position in shares of Grab during the fourth quarter worth $30,000. Global Retirement Partners LLC bought a new position in shares of Grab in the 4th quarter valued at $30,000. TD Private Client Wealth LLC boosted its holdings in shares of Grab by 7,238.5% during the 4th quarter. TD Private Client Wealth LLC now owns 7,999 shares of the company’s stock valued at $38,000 after acquiring an additional 7,890 shares in the last quarter. Finally, Allianz SE bought a new stake in Grab during the 4th quarter worth $44,000. Institutional investors own 55.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GRAB shares. Barclays lifted their price target on Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a research note on Thursday, February 20th. CLSA raised shares of Grab to a “moderate buy” rating in a report on Wednesday, April 9th. Benchmark reaffirmed a “buy” rating and set a $6.00 price target on shares of Grab in a research note on Thursday, February 20th. JPMorgan Chase & Co. raised shares of Grab from a “neutral” rating to an “overweight” rating and set a $5.60 price objective on the stock in a research note on Friday, February 21st. Finally, Hsbc Global Res raised Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Two 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.62.

Grab Trading Up 2.0 %

Shares of GRAB stock opened at $4.06 on Wednesday. The company has a market cap of $16.35 billion, a P/E ratio of -203.00, a PEG ratio of 2.26 and a beta of 0.88. Grab Holdings Limited has a fifty-two week low of $2.98 and a fifty-two week high of $5.72. The stock has a 50 day simple moving average of $4.53 and a two-hundred day simple moving average of $4.56. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70.

Grab (NASDAQ:GRAB) last issued its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $764.00 million for the quarter, compared to analyst estimates of $762.57 million. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. Research analysts forecast that Grab Holdings Limited will post 0.05 earnings per share for the current year.

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.