First Trust Direct Indexing L.P. Purchases 4,725 Shares of Grab Holdings Limited (NASDAQ:GRAB)

First Trust Direct Indexing L.P. boosted its position in Grab Holdings Limited (NASDAQ:GRAB) by 34.5% in the third quarter, HoldingsChannel reports. The firm owned 18,435 shares of the company’s stock after buying an additional 4,725 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Grab were worth $70,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dorsey & Whitney Trust CO LLC bought a new position in shares of Grab in the first quarter valued at approximately $32,000. Blue Trust Inc. boosted its position in Grab by 53.6% in the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after purchasing an additional 3,408 shares during the last quarter. Sage Rhino Capital LLC bought a new position in Grab in the 2nd quarter valued at $38,000. Traynor Capital Management Inc. purchased a new stake in shares of Grab during the 3rd quarter valued at $41,000. Finally, Prospect Financial Services LLC purchased a new stake in shares of Grab during the 2nd quarter valued at $53,000. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Grab Stock Performance

NASDAQ GRAB opened at $4.22 on Thursday. The firm has a market cap of $16.56 billion, a P/E ratio of -83.80 and a beta of 0.81. The company has a quick ratio of 2.97, a current ratio of 3.00 and a debt-to-equity ratio of 0.03. The company’s 50 day moving average is $3.69 and its 200-day moving average is $3.56. Grab Holdings Limited has a 12-month low of $2.90 and a 12-month high of $4.32.

Grab (NASDAQ:GRAB) last posted its earnings results on Thursday, August 15th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). The firm had revenue of $664.00 million for the quarter, compared to the consensus estimate of $674.17 million. Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. The business’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.03) earnings per share. Sell-side analysts predict that Grab Holdings Limited will post -0.04 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Daiwa Capital Markets began coverage on shares of Grab in a research report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price target for the company. Benchmark reissued a “buy” rating and set a $6.00 target price on shares of Grab in a research report on Wednesday, September 11th. Finally, Jefferies Financial Group lowered their price target on shares of Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $4.70.

Grab 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.