KLP Kapitalforvaltning AS Increases Stake in Grab Holdings Limited (NASDAQ:GRAB)

Key Points

• KLP Kapitalforvaltning AS has increased its stake in Grab Holdings Limited by 24.2%, owning 808,400 shares worth approximately $3.66 million after acquiring an additional 157,300 shares in the first quarter.
• Grab Holdings has seen significant interest from other institutional investors, with hedge funds owning 55.52% of the company’s stock and several firms making new purchases recently.
• Currently, Grab's stock has a target price of $5.82 with an average rating of "Moderate Buy" from equity analysts, indicating positive market sentiment.

KLP Kapitalforvaltning AS raised its stake in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 24.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 808,400 shares of the company's stock after buying an additional 157,300 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Grab were worth $3,662,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Grab during the first quarter valued at $465,000. Private Advisor Group LLC raised its position in shares of Grab by 56.4% in the 1st quarter. Private Advisor Group LLC now owns 31,905 shares of the company's stock worth $145,000 after purchasing an additional 11,508 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of Grab by 76.1% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 13,318,393 shares of the company's stock worth $60,332,000 after purchasing an additional 5,755,060 shares during the last quarter. SBI Securities Co. Ltd. raised its holdings in Grab by 12.1% in the first quarter. SBI Securities Co. Ltd. now owns 101,936 shares of the company's stock worth $462,000 after buying an additional 10,980 shares during the last quarter. Finally, Cohen Capital Management Inc. raised its holdings in Grab by 52.6% in the first quarter. Cohen Capital Management Inc. now owns 691,917 shares of the company's stock worth $3,134,000 after buying an additional 238,585 shares during the last quarter. Hedge funds and other institutional investors own 55.52% of the company's stock.

Grab Stock Performance

Grab stock traded up $0.03 during midday trading on Tuesday, hitting $5.31. The stock had a trading volume of 17,280,013 shares, compared to its average volume of 36,607,953. The firm's fifty day moving average is $4.94 and its two-hundred day moving average is $4.71. The company has a current ratio of 2.49, a quick ratio of 2.46 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $21.36 billion, a PE ratio of 264.38 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.

Analyst Upgrades and Downgrades

GRAB has been the subject of several recent analyst reports. CLSA upgraded Grab to a "moderate buy" rating in a research note on Wednesday, April 9th. JPMorgan Chase & Co. decreased their target price on Grab from $5.60 to $5.30 and set an "overweight" rating for the company in a research 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 data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.