30,916,734 Shares in Grab Holdings Limited (NASDAQ:GRAB) Purchased by Norges Bank

Norges Bank bought a new stake in Grab Holdings Limited (NASDAQ:GRAB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 30,916,734 shares of the company’s stock, valued at approximately $145,927,000. Norges Bank owned approximately 0.77% of Grab as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Hanwha Asset Management Co. Ltd. acquired a new stake in shares of Grab in the fourth quarter valued at approximately $227,718,000. Perpetual Ltd acquired a new stake in Grab in the 4th quarter valued at $213,177,000. Wellington Management Group LLP lifted its position in Grab by 13.4% during the 3rd quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock worth $472,394,000 after buying an additional 14,671,388 shares in 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Grab by 179.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,462,483 shares of the company’s stock valued at $47,357,000 after acquiring an additional 8,004,912 shares in the last quarter. Institutional investors own 55.52% of the company’s stock.

Grab Trading Down 0.9 %

Shares of GRAB stock opened at $4.53 on Tuesday. Grab Holdings Limited has a 12-month low of $2.98 and a 12-month high of $5.72. The company has a market capitalization of $18.24 billion, a PE ratio of -226.50, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88. The firm has a 50 day moving average price of $4.69 and a two-hundred day moving average price of $4.54. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04.

Grab (NASDAQ:GRAB) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. The business had revenue of $764.00 million during the quarter, compared to analysts’ expectations of $762.57 million. As a group, analysts predict that Grab Holdings Limited will post 0.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GRAB has been the topic of several analyst reports. Benchmark reiterated a “buy” rating and set a $6.00 target price on shares of Grab in a report on Thursday, February 20th. Hsbc Global Res raised Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Citigroup reissued a “buy” rating on shares of Grab in a research note on Tuesday, February 4th. Bank of America raised shares of Grab from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $4.90 to $5.10 in a research report on Tuesday, January 7th. Finally, Barclays lifted their price objective on shares of Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.62.

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.