KLP Kapitalforvaltning AS Invests $3.07 Million in Grab Holdings Limited (NASDAQ:GRAB)

KLP Kapitalforvaltning AS purchased 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. The institutional investor purchased 651,100 shares of the company's stock, valued at approximately $3,073,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Empowered Funds LLC grew its holdings in Grab by 7.7% in the 3rd quarter. Empowered Funds LLC now owns 43,788 shares of the company's stock valued at $166,000 after buying an additional 3,147 shares in the last quarter. 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 valued at $5,434,000 after acquiring an additional 48,596 shares during the period. Dai ichi Life Insurance Company Ltd grew its stake in shares of Grab by 13.8% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 123,679 shares of the company's stock valued at $470,000 after acquiring an additional 15,000 shares in the last quarter. Glenmede Trust Co. NA bought a new position in Grab during the third quarter worth about $53,000. Finally, Caz Investments LP raised its stake in Grab by 100.0% in the 3rd quarter. Caz Investments LP now owns 3,700,232 shares of the company's stock worth $13,598,000 after purchasing an additional 1,850,116 shares in the last quarter. Institutional investors and hedge funds own 55.52% of the company's stock.

Grab Price Performance

Shares of GRAB traded down $0.23 during trading hours on Friday, reaching $4.57. The stock had a trading volume of 25,042,857 shares, compared to its average volume of 28,931,192. 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 12 month low of $2.98 and a 12 month high of $5.72. The stock has a market capitalization of $18.40 billion, a PE ratio of -228.50, a PEG ratio of 2.26 and a beta of 0.88. The company's 50-day moving average is $4.68 and its two-hundred day moving average is $4.53.

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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 analysts' consensus estimates of $0.01. The company had revenue of $764.00 million for 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%. Research analysts expect that Grab Holdings Limited will post 0.05 EPS for the current year.

Analysts Set New Price Targets

GRAB has been the topic of a number of analyst reports. JPMorgan Chase & Co. upgraded shares of Grab from a "neutral" rating to an "overweight" rating and set a $5.60 target price on the stock in a research report on Friday, February 21st. Benchmark reissued a "buy" rating and set a $6.00 price target on shares of Grab in a research report on Thursday, February 20th. HSBC upgraded Grab from a "hold" rating to a "buy" rating and lowered their price objective for the stock from $5.50 to $5.45 in a research note on Tuesday, February 4th. Barclays upped their target price on Grab from $5.50 to $6.50 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Finally, Hsbc Global Res upgraded Grab from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price 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.