Handelsbanken Fonder AB Raises Position in Grab Holdings Limited (NASDAQ:GRAB)

Handelsbanken Fonder AB raised its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 40.6% during the fourth quarter, HoldingsChannel reports. The firm owned 570,406 shares of the company’s stock after buying an additional 164,850 shares during the quarter. Handelsbanken Fonder AB’s holdings in Grab were worth $1,922,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Deutsche Bank AG raised its holdings in shares of Grab by 2.4% in the third quarter. Deutsche Bank AG now owns 2,964,633 shares of the company’s stock worth $10,495,000 after buying an additional 69,792 shares during the period. FMR LLC raised its holdings in shares of Grab by 2,898.6% in the third quarter. FMR LLC now owns 4,581,183 shares of the company’s stock worth $16,217,000 after buying an additional 4,428,407 shares during the period. Compagnie Lombard Odier SCmA raised its holdings in shares of Grab by 33.8% in the third quarter. Compagnie Lombard Odier SCmA now owns 2,206,523 shares of the company’s stock worth $7,811,000 after buying an additional 557,288 shares during the period. Public Sector Pension Investment Board raised its holdings in shares of Grab by 0.6% in the third quarter. Public Sector Pension Investment Board now owns 668,080 shares of the company’s stock worth $2,365,000 after buying an additional 4,200 shares during the period. Finally, Kinetic Partners Management LP purchased a new stake in shares of Grab in the third quarter worth approximately $23,176,000. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Grab Price Performance

Shares of NASDAQ GRAB opened at $3.50 on Friday. The company has a current ratio of 3.90, a quick ratio of 3.87 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $13.73 billion, a PE ratio of -35.00 and a beta of 0.91. The stock’s fifty day simple moving average is $3.24 and its two-hundred day simple moving average is $3.23. Grab Holdings Limited has a 12-month low of $2.67 and a 12-month high of $3.92.

Grab (NASDAQ:GRAB) last announced its earnings results on Thursday, February 22nd. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.03. The business had revenue of $653.00 million for the quarter, compared to analysts’ expectations of $633.82 million. Grab had a negative return on equity of 6.77% and a negative net margin of 18.43%. The business’s revenue for the quarter was up 30.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.10) EPS. As a group, analysts expect that Grab Holdings Limited will post 0.01 EPS for the current fiscal year.

Analysts Set New Price Targets

GRAB has been the topic of several research analyst reports. Barclays dropped their price objective on Grab from $4.50 to $4.30 and set an “overweight” rating on the stock in a research note on Monday, February 5th. HSBC reissued a “buy” rating and issued a $4.30 price objective on shares of Grab in a research note on Thursday, April 4th. Finally, JPMorgan Chase & Co. raised Grab from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $3.60 to $3.80 in a research note on Thursday, January 18th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $5.10.

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.