Uber Technologies Inc Purchases New Holdings in Grab Holdings Limited (NASDAQ:GRAB)

Uber Technologies Inc acquired a new position in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 535,902,982 shares of the company's stock, valued at approximately $2,529,462,000. Grab makes up 52.0% of Uber Technologies Inc's portfolio, making the stock its biggest position. Uber Technologies Inc owned about 13.31% of Grab as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Baillie Gifford & Co. raised its position in shares of Grab by 10.0% in the 4th quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company's stock valued at $221,942,000 after purchasing an additional 4,259,537 shares during the last quarter. Tidal Investments LLC increased its stake in Grab by 4,311.8% during the 3rd quarter. Tidal Investments LLC now owns 445,103 shares of the company's stock valued at $1,691,000 after purchasing an additional 435,014 shares in the last quarter. Leibman Financial Services Inc. purchased a new position in shares of Grab in the fourth quarter worth $937,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Grab by 2.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,707,627 shares of the company's stock worth $22,220,000 after buying an additional 134,243 shares during the period. Finally, Baader Bank Aktiengesellschaft grew its holdings in shares of Grab by 764.5% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 315,000 shares of the company's stock valued at $1,487,000 after buying an additional 278,563 shares during the last quarter. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GRAB. Benchmark restated a "buy" rating and issued a $6.00 target price on shares of Grab in a research note on Thursday, February 20th. Bank of America raised Grab from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $4.90 to $5.10 in a report on Tuesday, January 7th. JPMorgan Chase & Co. cut their price target on shares of Grab from $5.60 to $5.30 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. CLSA raised shares of Grab to a "moderate buy" rating in a research report on Wednesday, April 9th. Finally, Barclays upped their price objective on shares of Grab from $5.50 to $6.50 and gave the company an "overweight" rating in a report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Grab presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.60.

Grab Price Performance

Shares of GRAB stock traded up $0.12 during mid-day trading on Friday, hitting $4.89. 32,766,770 shares of the stock were exchanged, compared to its average volume of 30,317,554. Grab Holdings Limited has a 52-week low of $2.98 and a 52-week high of $5.72. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. The company has a market cap of $19.69 billion, a PE ratio of -244.50, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88. The firm has a fifty day moving average of $4.43 and a 200 day moving average of $4.63.

Grab (NASDAQ:GRAB - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.01. The company 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%. Research analysts anticipate that Grab Holdings Limited will post 0.05 earnings per share for the current year.

Grab 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.