Hanwha Asset Management Co. Ltd. bought a new stake in Grab Holdings Limited (NASDAQ:GRAB - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 47,839,997 shares of the company's stock, valued at approximately $227,718,000. Grab comprises 100.0% of Hanwha Asset Management Co. Ltd.'s portfolio, making the stock its largest position. Hanwha Asset Management Co. Ltd. owned about 1.19% of Grab at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Baillie Gifford & Co. lifted its stake in Grab by 10.0% in the fourth quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company's stock valued at $221,942,000 after buying an additional 4,259,537 shares during the period. Tidal Investments LLC grew its stake in Grab by 4,311.8% in the 3rd quarter. Tidal Investments LLC now owns 445,103 shares of the company's stock valued at $1,691,000 after purchasing an additional 435,014 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Grab in the 3rd quarter valued at $22,434,000. Leibman Financial Services Inc. bought a new position in shares of Grab during the 4th quarter worth $937,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Grab by 2.9% during the 4th 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. Institutional investors own 55.52% of the company's stock.
Grab Price Performance
Shares of Grab stock traded up $0.06 on Friday, hitting $4.64. The company's stock had a trading volume of 23,244,940 shares, compared to its average volume of 28,110,138. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. Grab Holdings Limited has a 1 year low of $2.98 and a 1 year high of $5.72. The firm has a fifty day moving average price of $4.66 and a 200-day moving average price of $4.47. The company has a market capitalization of $18.69 billion, a price-to-earnings ratio of -232.00, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88.
Grab (NASDAQ:GRAB - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The company had revenue of $764.00 million during the quarter, compared to analyst estimates of $762.57 million. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. As a group, sell-side analysts anticipate that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of research firms have weighed in on GRAB. Hsbc Global Res raised Grab from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. Benchmark reaffirmed a "buy" rating and issued a $6.00 price target on shares of Grab in a research note on Thursday, February 20th. Bank of America raised Grab from an "underperform" rating to a "neutral" rating and boosted their target price for the company from $4.90 to $5.10 in a research note on Tuesday, January 7th. HSBC raised Grab from a "hold" rating to a "buy" rating and reduced their price target for the stock from $5.50 to $5.45 in a research note on Tuesday, February 4th. Finally, Citigroup reissued a "buy" rating on shares of Grab in a report on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $5.62.
Check Out Our Latest Report on GRAB
Grab Company Profile
(
Free Report)
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.
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