Envestnet Asset Management Inc. Has $1.66 Million Stock Position in Grab Holdings Limited (NASDAQ:GRAB)

Key Points

• Envestnet Asset Management Inc. increased its stake in Grab Holdings Limited by 21.0% during the 1st quarter, owning 365,947 shares valued at approximately $1.7 million.
• Multiple hedge funds, including Raymond James Financial Inc. and American Century Companies Inc., have also significantly increased their investments in Grab during the fourth quarter.
• Analysts have generally given Grab Holdings a "Moderate Buy" rating, with an average target price of $5.82 despite a recent decrease in the target by JPMorgan Chase & Co. from $5.60 to $5.30.

Envestnet Asset Management Inc. boosted its stake in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 21.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 365,947 shares of the company's stock after acquiring an additional 63,547 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Grab were worth $1,658,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in shares of Grab by 10.6% in the 1st quarter. Bank of New York Mellon Corp now owns 4,004,362 shares of the company's stock worth $18,140,000 after acquiring an additional 384,917 shares in the last quarter. Huntleigh Advisors Inc. acquired a new position in Grab in the first quarter worth $285,000. IFM Investors Pty Ltd grew its holdings in shares of Grab by 7.3% during the first quarter. IFM Investors Pty Ltd now owns 376,293 shares of the company's stock worth $1,705,000 after purchasing an additional 25,618 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Grab by 3.2% in the first quarter. Principal Financial Group Inc. now owns 6,197,665 shares of the company's stock valued at $28,075,000 after buying an additional 189,398 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its stake in shares of Grab by 74.5% in the first quarter. Teacher Retirement System of Texas now owns 1,818,896 shares of the company's stock valued at $8,240,000 after buying an additional 776,775 shares in the last quarter. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Grab Trading Down 1.8%

GRAB traded down $0.09 during trading on Friday, reaching $4.80. 39,657,416 shares of the company's stock were exchanged, compared to its average volume of 39,305,112. The company's fifty day moving average price is $4.96 and its 200-day moving average price is $4.73. The firm has a market capitalization of $19.33 billion, a PE ratio of 244.50 and a beta of 0.84. Grab Holdings Limited has a fifty-two week low of $2.98 and a fifty-two week high of $5.72. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.46 and a current ratio of 2.49.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GRAB shares. JPMorgan Chase & Co. decreased their price objective on shares of Grab from $5.60 to $5.30 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. CLSA upgraded shares of Grab to a "moderate buy" rating in a research report on Wednesday, April 9th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Grab currently has a consensus rating of "Moderate Buy" and a consensus target price of $5.82.

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.