Assenagon Asset Management S.A. Buys 18,882,118 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Assenagon Asset Management S.A. boosted its stake in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 111.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,829,032 shares of the company's stock after purchasing an additional 18,882,118 shares during the quarter. Assenagon Asset Management S.A. owned about 0.89% of Grab worth $162,306,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC boosted its position in shares of Grab by 98.9% during the 1st quarter. SG Americas Securities LLC now owns 227,950 shares of the company's stock worth $1,033,000 after acquiring an additional 113,373 shares in the last quarter. Baldwin Wealth Partners LLC MA boosted its holdings in shares of Grab by 26.2% in the 1st quarter. Baldwin Wealth Partners LLC MA now owns 17,995 shares of the company's stock valued at $82,000 after purchasing an additional 3,741 shares in the last quarter. Park Avenue Securities LLC acquired a new position in shares of Grab during the 1st quarter worth $1,608,000. Udine Wealth Management Inc. acquired a new position in shares of Grab during the 1st quarter worth $1,067,000. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of Grab during the 1st quarter worth $118,000. 55.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on GRAB. Benchmark reiterated a "buy" rating and set a $6.00 price objective on shares of Grab in a research report on Thursday, February 20th. JPMorgan Chase & Co. cut their price objective on Grab from $5.60 to $5.30 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. CLSA raised Grab to a "moderate buy" rating in a report on Wednesday, April 9th. Finally, Barclays increased their target price on Grab from $5.50 to $6.50 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $5.71.

Grab Stock Down 2.5%

Shares of NASDAQ:GRAB traded down $0.12 during mid-day trading on Thursday, hitting $4.61. 23,252,575 shares of the company traded hands, compared to its average volume of 31,428,144. The stock has a 50-day moving average price of $4.65 and a two-hundred day moving average price of $4.73. The stock has a market cap of $18.56 billion, a P/E ratio of -230.50, a P/E/G ratio of 2.26 and a beta of 0.84. 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 12-month low of $2.98 and a 12-month high of $5.72.

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.