Nordea Investment Management AB Purchases 2,297,932 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Nordea Investment Management AB increased its position in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 15.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,181,844 shares of the company's stock after buying an additional 2,297,932 shares during the period. Nordea Investment Management AB owned 0.43% of Grab worth $81,356,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Tidal Investments LLC increased its holdings in shares of Grab by 4,311.8% during the 3rd quarter. Tidal Investments LLC now owns 445,103 shares of the company's stock valued at $1,691,000 after acquiring an additional 435,014 shares during the last quarter. Toronto Dominion Bank grew its holdings in Grab by 20.2% during the third quarter. Toronto Dominion Bank now owns 6,172,860 shares of the company's stock valued at $23,457,000 after purchasing an additional 1,035,269 shares during the last quarter. Geode Capital Management LLC grew its holdings in Grab by 2.9% during the third quarter. Geode Capital Management LLC now owns 20,666,618 shares of the company's stock valued at $77,414,000 after purchasing an additional 591,898 shares during the last quarter. M&T Bank Corp raised its position in shares of Grab by 1.7% in the third quarter. M&T Bank Corp now owns 335,179 shares of the company's stock valued at $1,274,000 after purchasing an additional 5,545 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Grab in the third quarter worth $696,000. Institutional investors and hedge funds own 55.52% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on GRAB. Evercore ISI lifted their target price on shares of Grab from $7.00 to $8.00 and gave the stock an "outperform" rating in a report on Tuesday, November 12th. Daiwa Capital Markets started coverage on Grab in a research report on Wednesday, October 23rd. They issued an "outperform" rating and a $4.60 price target on the stock. JPMorgan Chase & Co. boosted their price objective on Grab from $5.00 to $5.70 and gave the stock an "overweight" rating in a research report on Tuesday, November 12th. HSBC lowered Grab from a "buy" rating to a "hold" rating and raised their target price for the company from $4.25 to $5.50 in a report on Thursday, December 5th. Finally, Hsbc Global Res lowered Grab from a "strong-buy" rating to a "hold" rating in a report on Thursday, December 5th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $5.55.

Grab Price Performance

Shares of NASDAQ:GRAB traded down $0.11 during midday trading on Wednesday, reaching $4.63. 23,930,257 shares of the company's stock were exchanged, compared to its average volume of 20,350,320. The firm has a market capitalization of $18.65 billion, a PE ratio of -231.50 and a beta of 0.90. The company's 50 day simple moving average is $4.90 and its two-hundred day simple moving average is $4.00. Grab Holdings Limited has a 12 month low of $2.90 and a 12 month high of $5.72. 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 (NASDAQ:GRAB - Get Free Report) last announced its quarterly earnings results on Monday, November 11th. The company reported $0.01 EPS for the quarter. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The firm had revenue of $716.00 million during the quarter, compared to analysts' expectations of $705.40 million. During the same quarter last year, the company earned ($0.02) earnings per share. Equities research analysts expect that Grab Holdings Limited will post -0.03 earnings per share for the current fiscal year.

About Grab

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.