Mitsubishi UFJ Asset Management Co. Ltd. Increases Position in Grab Holdings Limited (NASDAQ:GRAB)

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,440,536 shares of the company’s stock after buying an additional 11,440 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Grab were worth $6,929,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Twin Tree Management LP acquired a new stake in shares of Grab in the 4th quarter worth approximately $25,000. Global Retirement Partners LLC purchased a new stake in Grab during the fourth quarter worth $30,000. Campbell Capital Management Inc. acquired a new stake in Grab in the fourth quarter valued at $30,000. TD Private Client Wealth LLC increased its position in shares of Grab by 7,238.5% in the fourth quarter. TD Private Client Wealth LLC now owns 7,999 shares of the company’s stock valued at $38,000 after buying an additional 7,890 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC acquired a new position in shares of Grab during the 4th quarter worth $48,000. 55.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Barclays increased their price objective on shares of Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Benchmark reissued a “buy” rating and set a $6.00 price objective on shares of Grab in a research note on Thursday, February 20th. Citigroup reaffirmed a “buy” rating on shares of Grab in a research note on Tuesday, February 4th. Hsbc Global Res raised Grab from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, Bank of America upgraded Grab from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $4.90 to $5.10 in a research report on Tuesday, January 7th. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.62.

Grab Stock Performance

Grab stock opened at $4.53 on Tuesday. The stock has a fifty day moving average price of $4.69 and a 200 day moving average price of $4.54. 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 Holdings Limited has a 52 week low of $2.98 and a 52 week high of $5.72. The firm has a market capitalization of $18.24 billion, a P/E ratio of -226.50, a PEG ratio of 2.26 and a beta of 0.88.

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