Bridgewater Associates LP Acquires New Holdings in Grab Holdings Limited (NASDAQ:GRAB)

Bridgewater Associates LP bought a new position in Grab Holdings Limited (NASDAQ:GRAB) in the fourth quarter, HoldingsChannel.com reports. The fund bought 1,545,359 shares of the company’s stock, valued at approximately $7,294,000.

A number of other hedge funds have also added to or reduced their stakes in GRAB. Hanwha Asset Management Co. Ltd. bought a new stake in shares of Grab in the fourth quarter worth $227,718,000. Baillie Gifford & Co. lifted its stake in shares of Grab by 10.0% in the 4th quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company’s stock worth $221,942,000 after purchasing an additional 4,259,537 shares during the period. Perpetual Ltd bought a new stake in Grab during the fourth quarter valued at approximately $213,177,000. Arrowstreet Capital Limited Partnership raised its position in Grab by 5,066.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 33,914,101 shares of the company’s stock worth $160,075,000 after acquiring an additional 33,257,610 shares during the period. Finally, Norges Bank purchased a new position in shares of Grab during the 4th quarter worth $145,927,000. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Grab Price Performance

Grab stock opened at $4.04 on Thursday. Grab Holdings Limited has a 52-week low of $2.98 and a 52-week high of $5.72. The company has a market cap of $16.27 billion, a price-to-earnings ratio of -202.00, a PEG ratio of 2.26 and a beta of 0.88. The firm’s fifty day moving average is $4.52 and its 200 day moving average is $4.56. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04.

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

Analyst Ratings Changes

Several equities analysts recently weighed in on GRAB shares. JPMorgan Chase & Co. lowered their target price on Grab from $5.60 to $5.30 and set an “overweight” rating on the stock in a research report on Wednesday. Hsbc Global Res upgraded shares of Grab from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Barclays increased their price target on Grab from $5.50 to $6.50 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Bank of America raised Grab from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $4.90 to $5.10 in a research note on Tuesday, January 7th. Finally, Citigroup restated a “buy” rating on shares of Grab in a research note on Tuesday, February 4th. Two research 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $5.60.

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.