Korea Investment CORP Increases Stock Holdings in Grab Holdings Limited (NASDAQ:GRAB)

Korea Investment CORP grew its stake in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 54.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,505,489 shares of the company's stock after buying an additional 532,700 shares during the period. Korea Investment CORP's holdings in Grab were worth $7,106,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in GRAB. Hanwha Asset Management Co. Ltd. acquired a new position in shares of Grab in the 4th quarter worth approximately $227,718,000. Perpetual Ltd acquired a new stake in shares of Grab in the fourth quarter valued at $213,177,000. Wellington Management Group LLP lifted its holdings in Grab by 13.4% during the 3rd quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company's stock worth $472,394,000 after buying an additional 14,671,388 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Grab by 109.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 16,946,914 shares of the company's stock valued at $79,989,000 after acquiring an additional 8,868,071 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Grab by 179.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,462,483 shares of the company's stock valued at $47,357,000 after acquiring an additional 8,004,912 shares during the last quarter. 55.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the company. JPMorgan Chase & Co. raised Grab from a "neutral" rating to an "overweight" rating and set a $5.60 price objective on the stock in a research note on Friday, February 21st. Hsbc Global Res raised shares of Grab from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 4th. Barclays raised their price target on Grab from $5.50 to $6.50 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Citigroup restated a "buy" rating on shares of Grab in a research note on Tuesday, February 4th. Finally, Benchmark restated a "buy" rating and issued a $6.00 price target on shares of Grab in a research note on Thursday, February 20th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Grab has a consensus rating of "Moderate Buy" and an average target price of $5.62.

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Grab Trading Down 12.4 %

GRAB stock traded down $0.53 during trading on Friday, hitting $3.73. 87,059,443 shares of the company traded hands, compared to its average volume of 29,240,202. 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 company has a 50-day moving average of $4.66 and a 200-day moving average of $4.55. The firm has a market capitalization of $15.02 billion, a PE ratio of -186.50, a P/E/G ratio of 2.26 and a beta of 0.88.

Grab (NASDAQ:GRAB - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, meeting analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $762.57 million. Analysts predict that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

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.