Capital Research & Management Co recently announced the acquisition of new stake in Grab Holdings Limited (NASDAQ:GRAB). The institutional investor has increased its shareholding in the Technology company by 1.40% to 158.74 million shares with purchase of 2.19 million shares. This fresh investment now brings its stake to 4.24% valued currently at $598.45 million. In addition, Mitsubishi UFJ Kokusai Asset Mana raised its holdings by 0.29 million to 143.65 million shares. And BlackRock Fund Advisors has lifted its position by 47.37% or 19.53 million shares – to 60.74 million shares.
With over 11.74 million Grab Holdings Limited (GRAB) shares trading Monday and a closing price of $3.53 on the day, the dollar volume was approximately $41.45 million. The shares have shown a positive half year performance of 23.43% and its price on 09/18/23 lost nearly -0.56%. Currently, there are 3.90B common shares owned by the public and among those 2.72B shares have been available to trade.
Top 5 EV Tech Stocks to Buy for 2023
The electric vehicle boom is accelerating – and fast. According a new report published by BloombergNEF, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now. Get our free report, "Top 5 EV Tech Stocks to Buy for 2023".
Click Here to Download the FREE Report.
Sponsored
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 26 analysts who have offered their price forecasts for GRAB have a consensus price objective of $4.64. The analysts have set the share’s price value over the next 12 months at a high of $7.00 and a low of $3.16. The average price target is 24.73% above its recent price level and a downside to the estimated low will see the stock lose -11.71% over that period. But an upside of 49.57% will see the stock hit the forecast high price target while median target price for the stock is $4.60.
The top 3 mutual fund holders in Grab Holdings Limited are American Funds EuroPacific Growth, American Funds New World Fund, and Morgan Stanley Invt. Fds. – Globa. American Funds EuroPacific Growth owns 82.57 million shares of the company’s stock, all valued at over $311.29 million. The company sold -0.29 million shares recently to bring their total holdings to about 2.20% of the shares outstanding. Morgan Stanley Invt. Fds. – Globa bought 37300.0 shares to bring its total holdings to over 50.22 million shares at a value of $189.33 million. Morgan Stanley Invt. Fds. – Globa now owns shares totaling to 1.34% of the shares outstanding.
However, the script later moved the day high at 3.5900, down -0.56%. The company’s stock has a 5-day price change of -5.61% and 3.22% over the past three months. GRAB shares are trading 9.63% year to date (YTD), with the 12-month market performance up to 19.66% higher. It has a 12-month low price of $2.19 and touched a high of $4.03 over the same period. GRAB has an average intraday trading volume of 18.39 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.98%, -1.96%, and 6.85% respectively.
Institutional ownership of Grab Holdings Limited (NASDAQ: GRAB) shares accounts for 48.00% of the company’s 3.90B shares outstanding. Mutual fund holders own 16.27%, while other institutional holders and individual stakeholders account for 19.04% and — respectively.
It has a market capitalization of $13.63B and a beta (3y monthly) value of 0.91. The earnings-per-share (ttm) stands at -$0.28. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.85% over the week and 3.67% over the month.
Analysts forecast that Grab Holdings Limited (GRAB) will achieve an EPS of -$0.02 for the current quarter, -$0.01 for the next quarter and -$0.07 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.02 while analysts give the company a high EPS estimate of -$0.01. Comparatively, EPS for the current quarter was -$0.08 a year ago. Earnings per share for the fiscal year are expected to increase by 52.10%, and 56.20% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 26 brokerage firm advisors rate Grab Holdings Limited (GRAB) as a “Strong Buy” at a consensus score of 1.80. Specifically, 20 Wall Street analysts polled rate the stock as a buy, while 2 of the 26 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the GRAB, a number of firms have released research notes about the stock. Barclays stated their Overweight rating for the stock in a research note on August 24, 2023, with the firm’s price target at $4.50.
