State of New Jersey Common Pension Fund D Increases Position in Grab Holdings Limited $GRAB

State of New Jersey Common Pension Fund D lifted its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 1.3% during the second quarter, Holdings Channel reports. The fund owned 1,014,940 shares of the company’s stock after purchasing an additional 12,900 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Grab were worth $5,105,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. J2 Capital Management Inc increased its position in shares of Grab by 21.5% during the second quarter. J2 Capital Management Inc now owns 12,189 shares of the company’s stock worth $61,000 after acquiring an additional 2,155 shares during the last quarter. Sowell Financial Services LLC increased its position in shares of Grab by 18.8% during the second quarter. Sowell Financial Services LLC now owns 13,953 shares of the company’s stock worth $70,000 after acquiring an additional 2,206 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in Grab by 6.0% in the first quarter. Sequoia Financial Advisors LLC now owns 45,934 shares of the company’s stock valued at $208,000 after buying an additional 2,581 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Grab by 51.2% in the second quarter. Caitong International Asset Management Co. Ltd now owns 7,780 shares of the company’s stock valued at $39,000 after buying an additional 2,634 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in Grab by 6.2% in the first quarter. Empowered Funds LLC now owns 52,698 shares of the company’s stock valued at $239,000 after buying an additional 3,090 shares during the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

Grab Stock Performance

Shares of GRAB stock opened at $5.85 on Monday. 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 business has a 50 day moving average of $5.68 and a two-hundred day moving average of $5.14. Grab Holdings Limited has a 52 week low of $3.36 and a 52 week high of $6.62. The company has a market cap of $23.56 billion, a P/E ratio of 146.29 and a beta of 0.88.

Grab (NASDAQ:GRAB) last issued its earnings results on Thursday, July 31st. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. Grab had a return on equity of 1.75% and a net margin of 3.65%.The company had revenue of $819.00 million during the quarter, compared to the consensus estimate of $809.41 million. Grab has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Grab Holdings Limited will post 0.05 EPS for the current year.

Analysts Set New Price Targets

GRAB has been the subject of several research analyst reports. Hsbc Global Res lowered Grab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. HSBC reissued a “hold” rating and issued a $6.20 price objective on shares of Grab in a report on Wednesday, September 17th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Grab in a report on Saturday. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $6.06.

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.