Cohen Capital Management Inc. Acquires 238,585 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Cohen Capital Management Inc. increased its holdings in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 52.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 691,917 shares of the company's stock after purchasing an additional 238,585 shares during the quarter. Cohen Capital Management Inc.'s holdings in Grab were worth $3,134,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Genus Capital Management Inc. grew its holdings in shares of Grab by 206.0% during the 1st quarter. Genus Capital Management Inc. now owns 88,286 shares of the company's stock worth $400,000 after acquiring an additional 171,572 shares during the period. Cerity Partners LLC grew its holdings in shares of Grab by 82.9% during the 1st quarter. Cerity Partners LLC now owns 84,597 shares of the company's stock worth $383,000 after acquiring an additional 38,342 shares during the period. Alps Advisors Inc. purchased a new position in shares of Grab during the 1st quarter worth approximately $1,464,000. Leavell Investment Management Inc. purchased a new position in shares of Grab during the 1st quarter worth approximately $91,000. Finally, LBP AM SA grew its holdings in shares of Grab by 3.3% during the 1st quarter. LBP AM SA now owns 947,183 shares of the company's stock worth $4,291,000 after acquiring an additional 30,594 shares during the period. Hedge funds and other institutional investors own 55.52% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on GRAB shares. JPMorgan Chase & Co. cut their price target on Grab from $5.60 to $5.30 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. CLSA upgraded Grab to a "moderate buy" rating in a research note on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $5.71.

Grab Stock Performance

Shares of NASDAQ GRAB traded up $0.09 during midday trading on Tuesday, hitting $5.10. 18,176,854 shares of the stock traded hands, compared to its average volume of 33,427,911. The firm has a 50-day moving average of $4.88 and a two-hundred day moving average of $4.67. The firm has a market capitalization of $20.52 billion, a P/E ratio of 254.88 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. Grab Holdings Limited has a one year low of $2.98 and a one year high of $5.72.

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.