Federated Hermes Inc. Increases Stock Position in Grab Holdings Limited (NASDAQ:GRAB)

Federated Hermes Inc. grew its position in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 4.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,348,891 shares of the company's stock after buying an additional 536,020 shares during the period. Federated Hermes Inc. owned 0.31% of Grab worth $55,940,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Garde Capital Inc. purchased a new stake in Grab in the 1st quarter worth approximately $29,000. Allianz SE bought a new position in Grab during the fourth quarter valued at approximately $44,000. SevenBridge Financial Group LLC bought a new position in Grab during the fourth quarter valued at approximately $48,000. Proficio Capital Partners LLC bought a new position in Grab during the first quarter valued at approximately $45,000. Finally, J2 Capital Management Inc bought a new stake in shares of Grab in the 1st quarter valued at approximately $45,000. Hedge funds and other institutional investors own 55.52% of the company's stock.

Grab Stock Performance

Shares of GRAB traded down $0.09 during mid-day trading on Friday, hitting $4.80. 39,605,344 shares of the company's stock were exchanged, compared to its average volume of 37,180,781. Grab Holdings Limited has a fifty-two week low of $2.98 and a fifty-two week high of $5.72. The firm has a market capitalization of $19.33 billion, a P/E ratio of 240.12 and a beta of 0.84. The business's 50 day moving average is $4.96 and its two-hundred day moving average is $4.73. The company has a current ratio of 2.49, a quick ratio of 2.46 and a debt-to-equity ratio of 0.04.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GRAB. 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 report on Wednesday, April 16th. CLSA upgraded Grab to a "moderate buy" rating in a research note on Wednesday, April 9th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Grab has a consensus rating of "Moderate Buy" and a consensus price target of $5.82.

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.