OVERSEA CHINESE BANKING Corp Ltd Has $26.24 Million Stock Position in Grab Holdings Limited (NASDAQ:GRAB)

OVERSEA CHINESE BANKING Corp Ltd increased its position in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 23.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,917,939 shares of the company's stock after purchasing an additional 1,316,081 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd owned 0.18% of Grab worth $26,241,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in GRAB. Allspring Global Investments Holdings LLC lifted its position in shares of Grab by 18.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company's stock worth $76,924,000 after buying an additional 3,163,309 shares during the last quarter. Cohen Capital Management Inc. acquired a new stake in shares of Grab in the 3rd quarter worth about $1,723,000. Quadrature Capital Ltd increased its holdings in shares of Grab by 125.0% in the 1st quarter. Quadrature Capital Ltd now owns 1,062,944 shares of the company's stock worth $3,348,000 after acquiring an additional 590,580 shares during the period. Toronto Dominion Bank increased its holdings in shares of Grab by 43.4% in the 2nd quarter. Toronto Dominion Bank now owns 5,137,591 shares of the company's stock worth $18,238,000 after acquiring an additional 1,555,579 shares during the period. Finally, Public Sector Pension Investment Board increased its holdings in shares of Grab by 17.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 883,205 shares of the company's stock worth $3,135,000 after acquiring an additional 133,531 shares during the period. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Grab Stock Performance

Shares of NASDAQ:GRAB traded up $0.47 during trading on Tuesday, reaching $4.85. The stock had a trading volume of 100,714,184 shares, compared to its average volume of 24,034,184. Grab Holdings Limited has a 52 week low of $2.90 and a 52 week high of $4.93. The stock has a fifty day simple moving average of $3.78 and a two-hundred day simple moving average of $3.58. The firm has a market capitalization of $19.03 billion, a price-to-earnings ratio of -96.00 and a beta of 0.81. The company has a quick ratio of 2.97, a current ratio of 3.00 and a debt-to-equity ratio of 0.03.

Grab (NASDAQ:GRAB - Get Free Report) last announced its earnings results on Thursday, August 15th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.01). Grab had a negative net margin of 8.24% and a negative return on equity of 3.35%. The business had revenue of $664.00 million for the quarter, compared to analyst estimates of $674.17 million. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. Grab's revenue was up 17.1% compared to the same quarter last year. As a group, analysts anticipate that Grab Holdings Limited will post -0.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on GRAB shares. Jefferies Financial Group dropped their price objective on shares of Grab from $5.00 to $4.70 and set a "buy" rating on the stock in a report on Wednesday, July 17th. JPMorgan Chase & Co. lifted their price objective on shares of Grab from $5.00 to $5.70 and gave the stock an "overweight" rating in a research note on Tuesday. Evercore ISI lifted their price objective on shares of Grab from $7.00 to $8.00 and gave the stock an "outperform" rating in a research note on Tuesday. Benchmark reiterated a "buy" rating and issued a $6.00 target price on shares of Grab in a report on Tuesday. Finally, Daiwa Capital Markets assumed coverage on shares of Grab in a report on Wednesday, October 23rd. They set an "outperform" rating and a $4.60 price target for the company. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $5.28.

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.