Lansforsakringar Fondforvaltning AB publ Invests $6.83 Million in Grab Holdings Limited (NASDAQ:GRAB)

Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,446,753 shares of the company's stock, valued at approximately $6,829,000.

Other large investors have also added to or reduced their stakes in the company. Ellevest Inc. boosted its holdings in shares of Grab by 3.3% in the 4th quarter. Ellevest Inc. now owns 82,793 shares of the company's stock valued at $391,000 after purchasing an additional 2,636 shares in the last quarter. Wedbush Securities Inc. raised its position in Grab by 19.1% during the 4th quarter. Wedbush Securities Inc. now owns 21,800 shares of the company's stock worth $103,000 after purchasing an additional 3,500 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in 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 purchasing an additional 4,250 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Grab by 1.3% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 351,346 shares of the company's stock worth $1,658,000 after purchasing an additional 4,412 shares during the last quarter. Finally, Vestcor Inc raised its position in Grab by 16.6% during the 4th quarter. Vestcor Inc now owns 33,602 shares of the company's stock worth $159,000 after purchasing an additional 4,776 shares during the last quarter. Institutional investors and hedge funds own 55.52% of the company's stock.

Grab Stock Down 0.6%

GRAB traded down $0.03 during midday trading on Friday, reaching $4.86. 34,294,328 shares of the company were exchanged, compared to its average volume of 30,747,505. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. The company's fifty day moving average price is $4.58 and its 200 day moving average price is $4.74. The company has a market cap of $19.57 billion, a price-to-earnings ratio of -243.00, a price-to-earnings-growth ratio of 2.26 and a beta of 0.86. Grab Holdings Limited has a one year low of $2.98 and a one year high of $5.72.

Grab (NASDAQ:GRAB - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.01 EPS for the quarter, hitting analysts' consensus estimates of $0.01. The firm had revenue of $764.00 million during the quarter, compared to analyst estimates of $762.57 million. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. As a group, analysts expect that Grab Holdings Limited will post 0.05 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on GRAB shares. Benchmark reaffirmed a "buy" rating and set a $6.00 target price on shares of Grab in a research report on Thursday, February 20th. Citigroup reissued a "buy" rating on shares of Grab in a research note on Tuesday, February 4th. CLSA raised Grab to a "moderate buy" rating in a research note on Wednesday, April 9th. Hsbc Global Res raised Grab from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 4th. Finally, HSBC raised Grab from a "hold" rating to a "buy" rating and dropped their price objective for the company from $5.50 to $5.45 in a research note on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $5.71.

Grab 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.