Pictet Asset Management Holding SA Acquires 355,012 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Pictet Asset Management Holding SA grew its position in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 26.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,684,868 shares of the company's stock after purchasing an additional 355,012 shares during the period. Pictet Asset Management Holding SA's holdings in Grab were worth $7,952,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GRAB. Wellington Management Group LLP lifted its position in Grab by 13.4% during the third quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company's stock valued at $472,394,000 after purchasing an additional 14,671,388 shares during the last quarter. Hanwha Asset Management Co. Ltd. purchased a new stake in shares of Grab during the 4th quarter valued at $227,718,000. Baillie Gifford & Co. grew its position in Grab by 10.0% in the fourth quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company's stock worth $221,942,000 after acquiring an additional 4,259,537 shares in the last quarter. Perpetual Ltd purchased a new position in Grab in the fourth quarter worth $213,177,000. Finally, State Street Corp raised its position in Grab by 2.3% during the third quarter. State Street Corp now owns 43,570,388 shares of the company's stock valued at $165,567,000 after purchasing an additional 967,233 shares in the last quarter. Institutional investors own 55.52% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Bank of America upgraded Grab from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $4.90 to $5.10 in a research report on Tuesday, January 7th. JPMorgan Chase & Co. upgraded shares of Grab from a "neutral" rating to an "overweight" rating and set a $5.60 price target on the stock in a research report on Friday, February 21st. Benchmark restated a "buy" rating and issued a $6.00 price objective on shares of Grab in a report on Thursday, February 20th. Hsbc Global Res raised shares of Grab from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 4th. Finally, HSBC raised shares of Grab from a "hold" rating to a "buy" rating and lowered their price target for the stock from $5.50 to $5.45 in a research note on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Grab has an average rating of "Moderate Buy" and an average target price of $5.62.

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Grab Trading Up 7.2 %

Shares of GRAB stock traded up $0.25 during trading hours on Tuesday, reaching $3.73. The company's stock had a trading volume of 77,844,926 shares, compared to its average volume of 29,728,465. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $15.02 billion, a P/E ratio of -186.50, a P/E/G ratio of 2.26 and a beta of 0.88. The firm's fifty day simple moving average is $4.60 and its 200 day simple moving average is $4.55. Grab Holdings Limited has a one year low of $2.98 and a one year high of $5.72.

Grab (NASDAQ:GRAB - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $764.00 million during the quarter, compared to analyst estimates of $762.57 million. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. Equities research analysts expect that Grab Holdings Limited will post 0.05 EPS for the current year.

Grab Company 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.