Price T Rowe Associates Inc. MD Boosts Stock Position in Grab Holdings Limited (NASDAQ:GRAB)

Price T Rowe Associates Inc. MD boosted its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 30.1% during the fourth quarter, Holdings Channel reports. The firm owned 687,503 shares of the company’s stock after acquiring an additional 159,173 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Grab were worth $3,246,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hanwha Asset Management Co. Ltd. bought a new position in shares of Grab during the fourth quarter valued at approximately $227,718,000. Perpetual Ltd bought a new position in Grab in the 4th quarter worth $213,177,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Grab by 5,066.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 33,914,101 shares of the company’s stock worth $160,075,000 after purchasing an additional 33,257,610 shares during the period. Norges Bank bought a new stake in shares of Grab during the 4th quarter valued at about $145,927,000. Finally, Assenagon Asset Management S.A. increased its position 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 buying an additional 8,868,071 shares during the period. Institutional investors own 55.52% of the company’s stock.

Grab Trading Down 0.6 %

NASDAQ:GRAB opened at $4.86 on Tuesday. Grab Holdings Limited has a 52 week low of $2.98 and a 52 week high of $5.72. The stock has a market cap of $19.57 billion, a price-to-earnings ratio of -243.00, a PEG ratio of 2.26 and a beta of 0.86. The company’s 50 day moving average price is $4.43 and its 200-day moving average price is $4.65. 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 posted its earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. The business had revenue of $764.00 million during the quarter, compared to analyst estimates of $762.57 million. On average, equities research analysts forecast that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on the company. Benchmark reaffirmed a “buy” rating and set a $6.00 price objective on shares of Grab in a research report on Thursday, February 20th. Bank of America raised Grab from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $4.90 to $5.10 in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lowered their price objective on Grab from $5.60 to $5.30 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Hsbc Global Res upgraded shares of Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, CLSA upgraded shares of Grab to a “moderate buy” rating in a research note on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $5.60.

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.