Teacher Retirement System of Texas Buys 173,093 Shares of Grab Holdings Limited $GRAB

Teacher Retirement System of Texas increased its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 9.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,991,989 shares of the company’s stock after acquiring an additional 173,093 shares during the quarter. Teacher Retirement System of Texas’ holdings in Grab were worth $10,020,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Invesco Ltd. boosted its position in shares of Grab by 13.6% during the first quarter. Invesco Ltd. now owns 57,114,603 shares of the company’s stock worth $258,729,000 after acquiring an additional 6,820,675 shares during the last quarter. Baillie Gifford & Co. boosted its position in shares of Grab by 7.3% during the first quarter. Baillie Gifford & Co. now owns 50,443,998 shares of the company’s stock worth $228,511,000 after acquiring an additional 3,422,289 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Grab by 19.0% during the first quarter. JPMorgan Chase & Co. now owns 50,027,575 shares of the company’s stock worth $226,625,000 after acquiring an additional 7,998,293 shares during the last quarter. PointState Capital LP boosted its position in shares of Grab by 50.6% during the first quarter. PointState Capital LP now owns 35,148,819 shares of the company’s stock worth $159,224,000 after acquiring an additional 11,804,514 shares during the last quarter. Finally, Coronation Fund Managers Ltd. boosted its position in shares of Grab by 12.1% during the first quarter. Coronation Fund Managers Ltd. now owns 32,063,601 shares of the company’s stock worth $145,248,000 after acquiring an additional 3,472,193 shares during the last quarter. Institutional investors own 55.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on GRAB shares. Hsbc Global Res lowered shares of Grab from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. HSBC reiterated a “hold” rating and set a $6.20 price objective on shares of Grab in a research report on Wednesday, September 17th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Grab in a research report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Grab presently has an average rating of “Moderate Buy” and an average target price of $6.06.

Grab Price Performance

GRAB stock opened at $6.05 on Thursday. Grab Holdings Limited has a 52 week low of $3.36 and a 52 week high of $6.62. The company has a quick ratio of 1.87, a current ratio of 1.88 and a debt-to-equity ratio of 0.04. The company has a fifty day simple moving average of $5.74 and a two-hundred day simple moving average of $5.18. The firm has a market capitalization of $24.36 billion, a P/E ratio of 151.29 and a beta of 0.88.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. Grab had a net margin of 3.65% and a return on equity of 1.75%. The business had revenue of $819.00 million during the quarter, compared to analyst estimates of $809.41 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.