Perpetual Ltd cut its holdings in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 3.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 43,385,924 shares of the company's stock after selling 1,778,656 shares during the period. Grab accounts for approximately 2.4% of Perpetual Ltd's portfolio, making the stock its 9th biggest holding. Perpetual Ltd owned 1.08% of Grab worth $196,538,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Uber Technologies Inc bought a new stake in shares of Grab in the 4th quarter worth approximately $2,529,462,000. Toyota Motor Corp acquired a new position in shares of Grab in the fourth quarter valued at $1,052,117,000. Hanwha Asset Management Co. Ltd. bought a new position in Grab in the fourth quarter worth $227,718,000. Assenagon Asset Management S.A. boosted its stake in Grab by 111.4% during the first quarter. Assenagon Asset Management S.A. now owns 35,829,032 shares of the company's stock worth $162,306,000 after buying an additional 18,882,118 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Grab by 5,066.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 33,914,101 shares of the company's stock valued at $160,075,000 after buying an additional 33,257,610 shares during the period. Institutional investors and hedge funds own 55.52% of the company's stock.
Grab Trading Up 5.4%
Shares of GRAB stock traded up $0.25 on Friday, reaching $4.92. The company had a trading volume of 51,033,553 shares, compared to its average volume of 32,420,237. The stock has a market cap of $19.81 billion, a PE ratio of 246.12 and a beta of 0.84. The company has a 50-day moving average of $4.80 and a 200-day moving average of $4.69. The company has a current ratio of 2.49, a quick ratio of 2.46 and a debt-to-equity ratio of 0.04. Grab Holdings Limited has a 12 month low of $2.98 and a 12 month high of $5.72.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on GRAB. CLSA upgraded Grab to a "moderate buy" rating in a research note on Wednesday, April 9th. JPMorgan Chase & Co. lowered their price target on shares of Grab from $5.60 to $5.30 and set an "overweight" rating for the company in a report on Wednesday, April 16th. 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 stock. Based on data from MarketBeat, Grab currently has a consensus rating of "Moderate Buy" and a consensus price target of $5.71.
Read Our Latest Report on GRAB
Grab Profile
(
Free Report)
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.
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