593,789 Shares in Grab Holdings Limited (NASDAQ:GRAB) Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. purchased a new stake in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 593,789 shares of the company's stock, valued at approximately $2,810,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its holdings in shares of Grab by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,429,899 shares of the company's stock worth $5,434,000 after purchasing an additional 48,596 shares during the last quarter. HighTower Advisors LLC lifted its position in Grab by 87.9% during the 3rd quarter. HighTower Advisors LLC now owns 31,546 shares of the company's stock worth $119,000 after buying an additional 14,759 shares in the last quarter. State Street Corp grew its holdings in Grab by 2.3% during the 3rd quarter. State Street Corp now owns 43,570,388 shares of the company's stock worth $165,567,000 after acquiring an additional 967,233 shares during the last quarter. XTX Topco Ltd increased its position in Grab by 265.5% in the 3rd quarter. XTX Topco Ltd now owns 112,274 shares of the company's stock valued at $427,000 after acquiring an additional 81,558 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of Grab by 1.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 583,500 shares of the company's stock worth $2,217,000 after acquiring an additional 9,600 shares during the last quarter. 55.52% of the stock is owned by institutional investors and hedge funds.

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Grab Trading Up 1.9 %

Shares of NASDAQ:GRAB traded up $0.08 during mid-day trading on Tuesday, reaching $4.06. The stock had a trading volume of 5,339,732 shares, compared to its average volume of 30,014,885. The firm has a 50 day simple moving average of $4.54 and a two-hundred day simple moving average of $4.56. Grab Holdings Limited has a twelve month low of $2.98 and a twelve month high of $5.72. The firm has a market cap of $16.33 billion, a PE ratio of -202.75, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88. 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 (NASDAQ:GRAB - Get Free Report) last posted its 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 net margin of 3.72% and a negative return on equity of 1.63%. The company had revenue of $764.00 million for the quarter, compared to analyst estimates of $762.57 million. On average, research analysts predict that Grab Holdings Limited will post 0.05 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. CLSA raised shares of Grab to a "moderate buy" rating in a research note on Wednesday, April 9th. JPMorgan Chase & Co. upgraded Grab from a "neutral" rating to an "overweight" rating and set a $5.60 price objective on the stock in a research report on Friday, February 21st. Barclays boosted their target price on Grab from $5.50 to $6.50 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Bank of America upgraded Grab from an "underperform" rating to a "neutral" rating and raised their price target for the company from $4.90 to $5.10 in a report on Tuesday, January 7th. Finally, Hsbc Global Res raised Grab from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $5.62.

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.