Coronation Fund Managers Ltd. Has $145.25 Million Position in Grab Holdings Limited (NASDAQ:GRAB)

Key Points

• Coronation Fund Managers Ltd. increased its stake in Grab Holdings Limited by 12.1%, now holding approximately 32.1 million shares worth about $145.25 million.
• Other institutional investors like Uber Technologies Inc. and Toyota Motor Corp. have also made significant investments in Grab, highlighting increased interest from major players.
• Grab reported quarterly earnings of $0.01 per share, meeting analysts' expectations, while revenue reached $819 million, slightly above consensus estimates.

Coronation Fund Managers Ltd. boosted its position in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 12.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,063,601 shares of the company's stock after purchasing an additional 3,472,193 shares during the period. Grab makes up about 7.8% of Coronation Fund Managers Ltd.'s portfolio, making the stock its 4th largest holding. Coronation Fund Managers Ltd. owned 0.80% of Grab worth $145,248,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its position in Grab by 13.6% in the first quarter. Invesco Ltd. now owns 57,114,603 shares of the company's stock worth $258,729,000 after purchasing an additional 6,820,675 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Grab by 19.0% in the first quarter. JPMorgan Chase & Co. now owns 50,027,575 shares of the company's stock valued at $226,625,000 after buying an additional 7,998,293 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Grab by 49.5% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,275,716 shares of the company's stock valued at $51,079,000 after buying an additional 3,732,701 shares in the last quarter. Keystone Investors PTE Ltd. bought a new position in shares of Grab in the first quarter valued at $437,000. Finally, NS Partners Ltd bought a new position in shares of Grab in the first quarter valued at $8,247,000. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Grab Stock Up 3.5%

NASDAQ:GRAB traded up $0.17 during trading hours on Tuesday, hitting $4.99. 23,545,600 shares of the stock traded hands, compared to its average volume of 38,968,628. The firm has a 50 day moving average price of $4.95 and a 200 day moving average price of $4.75. The company has a current ratio of 1.88, a quick ratio of 1.87 and a debt-to-equity ratio of 0.04. Grab Holdings Limited has a fifty-two week low of $3.08 and a fifty-two week high of $5.72. The firm has a market cap of $20.09 billion, a price-to-earnings ratio of 124.78 and a beta of 0.84.

Grab (NASDAQ:GRAB - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. Grab had a net margin of 3.65% and a return on equity of 1.75%. The company had revenue of $819.00 million for the quarter, compared to the consensus estimate of $809.41 million. Equities research analysts anticipate that Grab Holdings Limited will post 0.05 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. dropped their price target on Grab from $5.60 to $5.30 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $5.82.

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.