Uber Technologies Inc Invests $2.53 Billion in Grab Holdings Limited (NASDAQ:GRAB)

Uber Technologies Inc bought a new position in Grab Holdings Limited (NASDAQ:GRAB - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 535,902,982 shares of the company's stock, valued at approximately $2,529,462,000. Grab comprises 52.0% of Uber Technologies Inc's holdings, making the stock its largest holding. Uber Technologies Inc owned approximately 13.31% of Grab at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GRAB. FNY Investment Advisers LLC raised its stake in shares of Grab by 13.9% in the fourth quarter. FNY Investment Advisers LLC now owns 28,700 shares of the company's stock valued at $135,000 after buying an additional 3,500 shares during the period. Wedbush Securities Inc. increased its holdings in Grab by 19.1% in the 4th quarter. Wedbush Securities Inc. now owns 21,800 shares of the company's stock worth $103,000 after acquiring an additional 3,500 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in Grab by 40.6% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 14,710 shares of the company's stock valued at $69,000 after acquiring an additional 4,250 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Grab by 1.3% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 351,346 shares of the company's stock valued at $1,658,000 after purchasing an additional 4,412 shares during the last quarter. Finally, Vestcor Inc boosted its position in Grab by 16.6% during the fourth quarter. Vestcor Inc now owns 33,602 shares of the company's stock worth $159,000 after purchasing an additional 4,776 shares during the period. 55.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GRAB shares. JPMorgan Chase & Co. reduced their price objective on shares of Grab from $5.60 to $5.30 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. HSBC raised Grab from a "hold" rating to a "buy" rating and lowered their price target for the company from $5.50 to $5.45 in a report on Tuesday, February 4th. Benchmark restated a "buy" rating and set a $6.00 price objective on shares of Grab in a research report on Thursday, February 20th. Bank of America upgraded Grab from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $4.90 to $5.10 in a report on Tuesday, January 7th. Finally, Hsbc Global Res upgraded Grab from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 4th. Two equities research 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $5.60.

Grab Trading Up 1.3 %

Shares of GRAB stock traded up $0.07 during trading hours on Monday, reaching $4.96. The company's stock had a trading volume of 15,526,492 shares, compared to its average volume of 36,599,137. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. Grab Holdings Limited has a one year low of $2.98 and a one year high of $5.72. The stock has a market capitalization of $19.95 billion, a P/E ratio of -247.75, a P/E/G ratio of 2.26 and a beta of 0.88. The firm's fifty day simple moving average is $4.43 and its 200 day simple moving average is $4.64.

Grab (NASDAQ:GRAB - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The company had revenue of $764.00 million for the quarter, compared to analyst estimates of $762.57 million. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. Equities research analysts expect that Grab Holdings Limited will post 0.05 EPS for the current 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.