Grab Holdings Limited (NASDAQ:GRAB) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Grab Holdings Limited (NASDAQ:GRAB) by 19.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 264,669 shares of the company’s stock after buying an additional 42,824 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Grab were worth $1,249,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Blue Trust Inc. raised its position in shares of Grab by 53.6% in the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after purchasing an additional 3,408 shares in the last quarter. SeaBridge Investment Advisors LLC acquired a new stake in Grab in the fourth quarter valued at $48,000. Traynor Capital Management Inc. bought a new position in Grab during the 3rd quarter valued at $41,000. Glenmede Trust Co. NA acquired a new position in Grab during the 3rd quarter worth $53,000. Finally, Baldwin Wealth Partners LLC MA bought a new stake in shares of Grab in the 4th quarter worth about $67,000. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GRAB has been the topic of several research analyst reports. Benchmark reaffirmed a “buy” rating and set a $6.00 price target on shares of Grab in a research report on Tuesday, November 12th. Hsbc Global Res upgraded Grab from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. downgraded Grab from an “overweight” rating to a “neutral” rating in a report on Wednesday, February 5th. Daiwa Capital Markets started coverage on Grab in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price objective on the stock. Finally, Evercore ISI boosted their target price on shares of Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $5.54.

Grab Stock Performance

Shares of NASDAQ GRAB opened at $4.78 on Wednesday. Grab Holdings Limited has a 12-month low of $2.98 and a 12-month high of $5.72. The company has a market cap of $19.25 billion, a PE ratio of -239.00, a P/E/G ratio of 1.95 and a beta of 0.90. The stock has a 50 day simple moving average of $4.81 and a 200-day simple moving average of $4.19. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Monday, November 11th. The company reported $0.01 earnings per share (EPS) for the quarter. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. The company had revenue of $716.00 million during the quarter, compared to analysts’ expectations of $705.40 million. During the same quarter in the prior year, the business posted ($0.02) earnings per share. On average, equities research analysts forecast that Grab Holdings Limited will post -0.02 EPS for the current year.

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.