Norges Bank Invests $145.93 Million in Grab Holdings Limited (NASDAQ:GRAB)

Norges Bank bought a new stake in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. 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 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its position in shares of Grab by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,429,899 shares of the company's stock worth $5,434,000 after buying an additional 48,596 shares during the period. Glenmede Trust Co. NA acquired a new position in Grab during the 3rd quarter worth approximately $53,000. Public Sector Pension Investment Board boosted its holdings in Grab by 24.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 1,095,005 shares of the company's stock worth $4,161,000 after acquiring an additional 211,800 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Grab by 179.6% in the third 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. Finally, Erste Asset Management GmbH purchased a new stake in shares of Grab during the third quarter valued at approximately $962,000. 55.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Benchmark restated a "buy" rating and issued a $6.00 target price on shares of Grab in a research note on Thursday, February 20th. HSBC upgraded Grab from a "hold" rating to a "buy" rating and lowered their target price for the company from $5.50 to $5.45 in a research note on Tuesday, February 4th. Hsbc Global Res upgraded Grab from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 4th. Barclays raised their price objective on Grab from $5.50 to $6.50 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Finally, Bank of America raised Grab from an "underperform" rating to a "neutral" rating and upped their target price 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 issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $5.62.

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Grab Stock Performance

GRAB stock traded down $0.53 during midday trading on Friday, reaching $3.73. The company had a trading volume of 87,059,443 shares, compared to its average volume of 29,240,202. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average price of $4.66 and a 200 day moving average price of $4.55. The firm has a market capitalization of $15.02 billion, a PE ratio of -186.50, a P/E/G ratio of 2.26 and a beta of 0.88. Grab Holdings Limited has a fifty-two week low of $2.98 and a fifty-two week high of $5.72.

Grab (NASDAQ:GRAB - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.01. The company had revenue of $764.00 million for the quarter, compared to analysts' expectations of $762.57 million. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. 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.