Harvest Fund Management Co. Ltd Acquires Shares of 91,191 Grab Holdings Limited (NASDAQ:GRAB)

Harvest Fund Management Co. Ltd acquired a new stake in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 91,191 shares of the company's stock, valued at approximately $430,000.

Other institutional investors have also made changes to their positions in the company. Empowered Funds LLC increased its stake in Grab by 7.7% during the 3rd quarter. Empowered Funds LLC now owns 43,788 shares of the company's stock worth $166,000 after buying an additional 3,147 shares during the period. Swiss National Bank lifted its position in shares of Grab by 0.9% during the third quarter. Swiss National Bank now owns 6,274,800 shares of the company's stock worth $23,844,000 after purchasing an additional 55,100 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Grab in the third quarter worth about $2,757,000. Thompson Siegel & Walmsley LLC bought a new stake in Grab in the third quarter valued at about $1,986,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Grab by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,429,899 shares of the company's stock valued at $5,434,000 after buying an additional 48,596 shares in the last quarter. 55.52% of the stock is owned by institutional investors and hedge funds.

Grab Price Performance

Shares of GRAB stock traded up $0.24 during midday trading on Wednesday, reaching $4.78. 34,231,140 shares of the company were exchanged, compared to its average volume of 28,152,874. The company's 50 day moving average price is $4.67 and its two-hundred day moving average price is $4.50. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. The company has a market cap of $19.25 billion, a P/E ratio of -239.00, a PEG ratio of 2.26 and a beta of 0.88. Grab Holdings Limited has a 12 month low of $2.98 and a 12 month high of $5.72.

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Grab (NASDAQ:GRAB - Get Free Report) last released 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. The firm had revenue of $764.00 million during the quarter, compared to the consensus estimate of $762.57 million. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. On average, sell-side analysts expect that Grab Holdings Limited will post 0.05 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. HSBC upgraded Grab from a "hold" rating to a "buy" rating and decreased their target price for the stock from $5.50 to $5.45 in a research report on Tuesday, February 4th. Hsbc Global Res raised shares of Grab from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. 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 report on Tuesday, January 7th. JPMorgan Chase & Co. raised Grab from a "neutral" rating to an "overweight" rating and set a $5.60 price target on the stock in a report on Friday, February 21st. Finally, Barclays increased 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. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Grab currently has an average rating of "Moderate Buy" and an average 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.