OVERSEA CHINESE BANKING Corp Ltd Buys 645,394 Shares of Grab Holdings Limited (NASDAQ:GRAB)

OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 9.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,563,333 shares of the company’s stock after acquiring an additional 645,394 shares during the period. Grab comprises approximately 1.0% of OVERSEA CHINESE BANKING Corp Ltd’s investment portfolio, making the stock its 25th largest holding. OVERSEA CHINESE BANKING Corp Ltd owned 0.19% of Grab worth $35,649,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the company. Baillie Gifford & Co. lifted its position in shares of Grab by 10.0% during the fourth quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company’s stock valued at $221,942,000 after purchasing an additional 4,259,537 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Grab by 4,311.8% in the 3rd quarter. Tidal Investments LLC now owns 445,103 shares of the company’s stock worth $1,691,000 after buying an additional 435,014 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Grab in the third quarter valued at approximately $22,434,000. Leibman Financial Services Inc. purchased a new stake in shares of Grab during the fourth quarter valued at approximately $937,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in Grab by 2.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,707,627 shares of the company’s stock worth $22,220,000 after acquiring an additional 134,243 shares during the period. 55.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Hsbc Global Res upgraded Grab from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. China Renaissance cut shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 target price on the stock. in a research note on Thursday, November 21st. Citigroup reaffirmed a “buy” rating on shares of Grab in a report on Tuesday, February 4th. HSBC raised Grab from a “hold” rating to a “buy” rating and reduced their price objective for the company from $5.50 to $5.45 in a report on Tuesday, February 4th. Finally, Barclays boosted their target price on Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $5.62.

Grab Stock Up 3.4 %

GRAB stock opened at $4.60 on Wednesday. The stock has a 50-day simple moving average of $4.66 and a two-hundred day simple moving average of $4.45. Grab Holdings Limited has a twelve month low of $2.98 and a twelve month high of $5.72. The firm has a market capitalization of $18.52 billion, a PE ratio of -230.00, a PEG ratio of 2.26 and a beta of 0.88. 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 posted its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates 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 analyst estimates of $762.57 million. On average, equities analysts predict that Grab Holdings Limited will post 0.05 EPS for the current fiscal 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.