Federated Hermes Inc. Has $55.94 Million Holdings in Grab Holdings Limited (NASDAQ:GRAB)

Federated Hermes Inc. raised its stake in Grab Holdings Limited (NASDAQ:GRAB) by 4.5% in the 1st quarter, HoldingsChannel reports. The fund owned 12,348,891 shares of the company’s stock after buying an additional 536,020 shares during the quarter. Federated Hermes Inc.’s holdings in Grab were worth $55,940,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Garde Capital Inc. bought a new position in shares of Grab in the 1st quarter valued at about $29,000. Allianz SE bought a new position in shares of Grab in the 4th quarter valued at about $44,000. J2 Capital Management Inc bought a new position in shares of Grab in the 1st quarter valued at about $45,000. Proficio Capital Partners LLC bought a new position in shares of Grab in the 1st quarter valued at about $45,000. Finally, SevenBridge Financial Group LLC bought a new position in shares of Grab in the 4th quarter valued at about $48,000. Institutional investors and hedge funds own 55.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GRAB shares. CLSA raised shares of Grab to a “moderate buy” rating in a research note on Wednesday, April 9th. JPMorgan Chase & Co. reduced their target price on shares of Grab from $5.60 to $5.30 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.82.

Grab Stock Up 0.6%

Grab stock opened at $5.31 on Wednesday. The company’s 50 day simple moving average is $4.95 and its 200 day simple moving average is $4.72. Grab Holdings Limited has a fifty-two week low of $2.98 and a fifty-two week high of $5.72. The firm has a market capitalization of $21.38 billion, a price-to-earnings ratio of 265.63 and a beta of 0.84. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.49 and a quick ratio of 2.46.

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.