Janney Montgomery Scott LLC Increases Position in Grab Holdings Limited (NASDAQ:GRAB)

Janney Montgomery Scott LLC grew its stake in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 669.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,638 shares of the company's stock after acquiring an additional 80,602 shares during the quarter. Janney Montgomery Scott LLC's holdings in Grab were worth $420,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of GRAB. Ellevest Inc. grew its holdings in Grab by 3.3% in the fourth quarter. Ellevest Inc. now owns 82,793 shares of the company's stock valued at $391,000 after purchasing an additional 2,636 shares during the period. Leibman Financial Services Inc. boosted its holdings in shares of Grab by 1.7% in the 1st quarter. Leibman Financial Services Inc. now owns 201,858 shares of the company's stock valued at $914,000 after purchasing an additional 3,331 shares during the last quarter. Wedbush Securities Inc. grew its stake in shares of Grab by 19.1% during the 4th quarter. Wedbush Securities Inc. now owns 21,800 shares of the company's stock valued at $103,000 after buying an additional 3,500 shares during the period. Baldwin Wealth Partners LLC MA grew its stake in shares of Grab by 26.2% during the 1st quarter. Baldwin Wealth Partners LLC MA now owns 17,995 shares of the company's stock valued at $82,000 after buying an additional 3,741 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Grab by 40.6% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 14,710 shares of the company's stock worth $69,000 after buying an additional 4,250 shares during the last quarter. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GRAB shares. JPMorgan Chase & Co. reduced their target price 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 report on Wednesday, April 9th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.71.

Grab Stock Down 0.1%

Shares of NASDAQ:GRAB traded down $0.01 during mid-day trading on Friday, hitting $4.90. 19,438,366 shares of the company traded hands, compared to its average volume of 32,887,951. The firm has a market cap of $19.71 billion, a P/E ratio of 244.87 and a beta of 0.84. Grab Holdings Limited has a 52-week low of $2.98 and a 52-week high of $5.72. The firm's 50 day simple moving average is $4.87 and its 200 day simple moving average is $4.68. 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 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.