OVERSEA CHINESE BANKING Corp Ltd Raises Holdings in Grab Holdings Limited (NASDAQ:GRAB)

OVERSEA CHINESE BANKING Corp Ltd grew its position in Grab Holdings Limited (NASDAQ:GRAB) by 23.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,917,939 shares of the company’s stock after buying an additional 1,316,081 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Grab were worth $26,241,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Baillie Gifford & Co. purchased a new stake in shares of Grab during the 2nd quarter worth $166,587,000. Coronation Fund Managers Ltd. lifted its stake in shares of Grab by 29.7% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 45,452,613 shares of the company’s stock worth $161,357,000 after purchasing an additional 10,410,574 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Grab by 39.7% during the 2nd quarter. Marshall Wace LLP now owns 30,405,993 shares of the company’s stock worth $107,941,000 after purchasing an additional 8,635,310 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Grab by 18.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company’s stock worth $76,924,000 after purchasing an additional 3,163,309 shares during the last quarter. Finally, Prudential PLC lifted its stake in shares of Grab by 13.9% during the 2nd quarter. Prudential PLC now owns 20,226,225 shares of the company’s stock worth $71,803,000 after purchasing an additional 2,461,934 shares during the last quarter. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Daiwa Capital Markets assumed coverage on Grab in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 price objective for the company. Benchmark reaffirmed 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 reduced their target price on Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $4.70.

Grab Stock Up 3.5 %

Shares of GRAB stock opened at $4.38 on Tuesday. The firm has a market capitalization of $17.18 billion, a PE ratio of -87.60 and a beta of 0.81. Grab Holdings Limited has a fifty-two week low of $2.90 and a fifty-two week high of $4.44. The stock’s 50-day simple moving average is $3.78 and its 200-day simple moving average is $3.58. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.97 and a current ratio of 3.00.

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