KLP Kapitalforvaltning AS Invests $3.07 Million in Grab Holdings Limited (NASDAQ:GRAB)

KLP Kapitalforvaltning AS bought a new stake in shares of Grab Holdings Limited (NASDAQ:GRAB) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 651,100 shares of the company’s stock, valued at approximately $3,073,000.

A number of other large investors also recently added to or reduced their stakes in the business. Hanwha Asset Management Co. Ltd. bought a new stake in shares of Grab during the fourth quarter valued at approximately $227,718,000. Perpetual Ltd purchased a new position in Grab during the fourth quarter valued at $213,177,000. Wellington Management Group LLP increased its holdings in Grab by 13.4% in the 3rd quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock valued at $472,394,000 after acquiring an additional 14,671,388 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Grab by 109.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 16,946,914 shares of the company’s stock worth $79,989,000 after purchasing an additional 8,868,071 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Grab by 179.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,462,483 shares of the company’s stock valued at $47,357,000 after purchasing an additional 8,004,912 shares during the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Barclays lifted their target price on Grab from $5.50 to $6.50 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Hsbc Global Res raised Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Benchmark reissued a “buy” rating and issued a $6.00 target price on shares of Grab in a report on Thursday, February 20th. JPMorgan Chase & Co. raised shares of Grab from a “neutral” rating to an “overweight” rating and set a $5.60 price target on the stock in a research note on Friday, February 21st. Finally, Bank of America raised shares of Grab from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $4.90 to $5.10 in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Grab presently has an average rating of “Moderate Buy” and an average price target of $5.62.

Grab Price Performance

NASDAQ GRAB opened at $4.78 on Thursday. The company has a market cap of $19.25 billion, a PE ratio of -239.00, a P/E/G ratio of 2.26 and a beta of 0.88. Grab Holdings Limited has a 52-week low of $2.98 and a 52-week high of $5.72. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. The firm’s 50 day moving average price is $4.68 and its 200-day moving average price is $4.50.

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

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.