Sumitomo Mitsui Trust Group Inc. Has $22.22 Million Stock Position in Grab Holdings Limited (NASDAQ:GRAB)

Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,707,627 shares of the company's stock after purchasing an additional 134,243 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.12% of Grab worth $22,220,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Leo Wealth LLC boosted its position in Grab by 109.1% during the fourth quarter. Leo Wealth LLC now owns 37,913 shares of the company's stock valued at $179,000 after purchasing an additional 19,778 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Grab by 1.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,124,409 shares of the company's stock valued at $5,307,000 after purchasing an additional 17,517 shares during the last quarter. abrdn plc boosted its position in Grab by 8.6% during the fourth quarter. abrdn plc now owns 928,553 shares of the company's stock valued at $4,383,000 after purchasing an additional 73,193 shares during the last quarter. SeaBridge Investment Advisors LLC acquired a new stake in Grab during the fourth quarter valued at $48,000. Finally, Heck Capital Advisors LLC acquired a new stake in Grab during the fourth quarter valued at $321,000. Institutional investors and hedge funds own 55.52% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on GRAB shares. Evercore ISI boosted their price objective on Grab from $7.00 to $8.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 12th. China Renaissance cut Grab from a "buy" rating to a "hold" rating and set a $5.40 price objective for the company. in a research report on Thursday, November 21st. Bank of America raised Grab from an "underperform" rating to a "neutral" rating and boosted their price objective for the stock from $4.90 to $5.10 in a research report on Tuesday, January 7th. Mizuho boosted their price objective on Grab from $5.00 to $6.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th. Finally, Barclays boosted their price target on Grab from $4.70 to $5.50 and gave the company an "overweight" rating in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $5.54.

Grab Price Performance

Shares of GRAB traded down $0.06 on Friday, hitting $4.90. The company's stock had a trading volume of 31,196,986 shares, compared to its average volume of 28,847,300. The company has a market capitalization of $19.73 billion, a PE ratio of -245.00, a PEG ratio of 1.95 and a beta of 0.90. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67. Grab Holdings Limited has a fifty-two week low of $2.98 and a fifty-two week high of $5.72. The company has a 50 day moving average price of $4.79 and a 200 day moving average price of $4.22.

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.