Bank of New York Mellon Corp Grows Stake in Grab Holdings Limited (NASDAQ:GRAB)

Bank of New York Mellon Corp increased its position in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 10.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,004,362 shares of the company's stock after buying an additional 384,917 shares during the quarter. Bank of New York Mellon Corp owned 0.10% of Grab worth $18,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Garde Capital Inc. bought a new position in shares of Grab in the 1st quarter worth $29,000. TD Private Client Wealth LLC increased its position in shares of Grab by 7,238.5% during the 4th quarter. TD Private Client Wealth LLC now owns 7,999 shares of the company's stock valued at $38,000 after purchasing an additional 7,890 shares during the last quarter. Allianz SE purchased a new stake in shares of Grab during the 4th quarter valued at $44,000. J2 Capital Management Inc purchased a new stake in Grab in the 1st quarter worth about $45,000. Finally, SevenBridge Financial Group LLC purchased a new stake in Grab in the 4th quarter worth about $48,000. Institutional investors and hedge funds own 55.52% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on GRAB. CLSA raised Grab to a "moderate buy" rating in a report on Wednesday, April 9th. JPMorgan Chase & Co. reduced their target price on Grab from $5.60 to $5.30 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Grab presently has an average rating of "Moderate Buy" and a consensus target price of $5.82.

Grab Stock Up 1.7%

GRAB stock traded up $0.09 during trading on Friday, reaching $5.34. 45,202,047 shares of the company traded hands, compared to its average volume of 33,839,799. Grab Holdings Limited has a 12 month low of $2.98 and a 12 month high of $5.72. The business has a 50 day simple moving average of $4.91 and a 200 day simple moving average of $4.69. The company has a market capitalization of $21.50 billion, a price-to-earnings ratio of 267.13 and a beta of 0.84. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.46 and a current ratio of 2.49.

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.