By otakuyassine3@gmail.com 
HighTower Advisors LLC increased its stake in shares of Grab Holdings Limited (NASDAQ:GRAB – Free Report) by 28.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 40,484 shares of the company’s stock after acquiring an additional 8,938 shares during the quarter. HighTower Advisors LLC’s holdings in Grab were worth $191,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Perpetual Ltd acquired a new stake in Grab during the 4th quarter worth $213,177,000. Wellington Management Group LLP raised its holdings in shares of Grab by 13.4% in the third quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock valued at $472,394,000 after purchasing an additional 14,671,388 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Grab by 109.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 16,946,914 shares of the company’s stock worth $79,989,000 after buying an additional 8,868,071 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Grab by 4,125.6% in the 4th quarter. Principal Financial Group Inc. now owns 6,008,267 shares of the company’s stock valued at $28,359,000 after buying an additional 5,866,079 shares during the last quarter. Finally, Baillie Gifford & Co. increased its stake in shares of Grab by 10.0% during the 4th quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company’s stock worth $221,942,000 after purchasing an additional 4,259,537 shares during the last quarter. Institutional investors own 55.52% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have commented on the stock. HSBC upgraded shares of Grab from a “hold” rating to a “buy” rating and decreased their price objective for the company from $5.50 to $5.45 in a report on Tuesday, February 4th. Hsbc Global Res upgraded shares of Grab from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. JPMorgan Chase & Co. upgraded Grab from a “neutral” rating to an “overweight” rating and set a $5.60 target price on the stock in a research report on Friday, February 21st. Citigroup reaffirmed a “buy” rating on shares of Grab in a report on Tuesday, February 4th. Finally, Bank of America raised Grab from an “underperform” rating to a “neutral” rating and increased their price target for the company from $4.90 to $5.10 in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Grab has an average rating of “Moderate Buy” and a consensus target price of $5.62.
View Our Latest Stock Analysis on Grab
Grab Trading Down 7.6 %
Shares of Grab stock opened at $4.26 on Friday. The stock has a market capitalization of $17.16 billion, a PE ratio of -213.00, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88. The stock has a 50 day moving average price of $4.68 and a two-hundred day moving average price of $4.54. 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 Holdings Limited has a 52 week low of $2.98 and a 52 week high of $5.72.
Grab (NASDAQ:GRAB – Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. The company had revenue of $764.00 million for the quarter, compared to analyst estimates of $762.57 million. As a group, equities analysts anticipate that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal 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.
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