Alps Advisors Inc. Takes $1.46 Million Position in Grab Holdings Limited (NASDAQ:GRAB)

Alps Advisors Inc. bought a new position in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 323,100 shares of the company's stock, valued at approximately $1,464,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GRAB. Twin Tree Management LP purchased a new stake in Grab in the fourth quarter valued at approximately $25,000. Garde Capital Inc. purchased a new position in shares of Grab in the first quarter valued at $29,000. Campbell Capital Management Inc. purchased a new position in shares of Grab in the fourth quarter valued at $30,000. TD Private Client Wealth LLC increased its position in shares of Grab by 7,238.5% in the fourth quarter. TD Private Client Wealth LLC now owns 7,999 shares of the company's stock valued at $38,000 after buying an additional 7,890 shares in the last quarter. Finally, Allianz SE purchased a new stake in Grab during the 4th quarter worth about $44,000. Hedge funds and other institutional investors own 55.52% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on GRAB shares. JPMorgan Chase & Co. lowered their target price 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. CLSA raised Grab to a "moderate buy" rating in a research note on Wednesday, April 9th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Grab currently has a consensus rating of "Moderate Buy" and an average target price of $5.71.

Grab Stock Up 1.6%

Grab stock traded up $0.08 during midday trading on Friday, hitting $5.00. 36,652,049 shares of the company were exchanged, compared to its average volume of 33,509,883. The company's fifty day moving average price is $4.88 and its 200-day moving average price is $4.67. 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 cap of $20.14 billion, a PE ratio of 250.13 and a beta of 0.84. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.49 and a quick ratio of 2.46.

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.