State of New Jersey Common Pension Fund D Has $4.04 Million Holdings in Grab Holdings Limited (NASDAQ:GRAB)

State of New Jersey Common Pension Fund D boosted its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 5.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 856,140 shares of the company’s stock after buying an additional 40,400 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Grab were worth $4,041,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GRAB. Blue Trust Inc. raised its stake in shares of Grab by 53.6% in the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock valued at $35,000 after acquiring an additional 3,408 shares in the last quarter. Traynor Capital Management Inc. acquired a new position in Grab during the third quarter valued at approximately $41,000. SeaBridge Investment Advisors LLC bought a new position in shares of Grab in the fourth quarter valued at approximately $48,000. Glenmede Trust Co. NA acquired a new stake in shares of Grab in the third quarter worth $53,000. Finally, Baldwin Wealth Partners LLC MA bought a new stake in shares of Grab during the 4th quarter worth $67,000. 55.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GRAB. Hsbc Global Res raised shares of Grab from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. China Renaissance cut Grab from a “buy” rating to a “hold” rating and set a $5.40 price objective for the company. in a research report on Thursday, November 21st. Bank of America raised Grab from an “underperform” rating to a “neutral” rating and raised their target price for the company from $4.90 to $5.10 in a report on Tuesday, January 7th. HSBC upgraded Grab from a “hold” rating to a “buy” rating and cut their price target for the stock from $5.50 to $5.45 in a report on Tuesday, February 4th. Finally, Evercore ISI raised their price objective on shares of Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $5.54.

Grab Stock Up 0.8 %

GRAB opened at $5.34 on Thursday. Grab Holdings Limited has a fifty-two week low of $2.98 and a fifty-two week high of $5.72. The company has a market capitalization of $21.50 billion, a P/E ratio of -267.00, a P/E/G ratio of 2.04 and a beta of 0.90. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67. The firm’s fifty day moving average price is $4.78 and its two-hundred day moving average price is $4.26.

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.