Nordea Investment Management AB Purchases 3,799,121 Shares of Grab Holdings Limited $GRAB

Key Points

• Nordea Investment Management AB increased its stake in Grab by 19.1%, acquiring 3,799,121 shares to hold 23,685,128 shares (about 0.59% of the company) valued at roughly $119.49 million at quarter-end.
• Grab shares opened at $3.56 (down 3.3%), the company has a market cap of $14.59 billion, and analysts hold a consensus Buy rating with an average price target of $6.47 after Grab reported an EPS beat ($0.04 vs. $0.01) but a slight revenue miss.

Nordea Investment Management AB increased its position in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 19.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,685,128 shares of the company's stock after acquiring an additional 3,799,121 shares during the quarter. Nordea Investment Management AB owned about 0.59% of Grab worth $119,491,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GRAB. Integrated Wealth Concepts LLC boosted its holdings in Grab by 201.2% during the first quarter. Integrated Wealth Concepts LLC now owns 35,386 shares of the company's stock valued at $160,000 after acquiring an additional 23,639 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Grab by 6.1% in the first quarter. Goldman Sachs Group Inc. now owns 9,231,195 shares of the company's stock worth $41,817,000 after purchasing an additional 529,433 shares during the period. Empowered Funds LLC lifted its position in shares of Grab by 6.2% during the 1st quarter. Empowered Funds LLC now owns 52,698 shares of the company's stock worth $239,000 after purchasing an additional 3,090 shares during the last quarter. Focus Partners Wealth bought a new stake in Grab during the 1st quarter valued at approximately $63,000. Finally, ProShare Advisors LLC boosted its stake in Grab by 67.4% during the 2nd quarter. ProShare Advisors LLC now owns 25,816 shares of the company's stock valued at $130,000 after purchasing an additional 10,395 shares during the period. Institutional investors and hedge funds own 55.52% of the company's stock.

Grab Trading Down 3.3%

Shares of GRAB opened at $3.56 on Monday. Grab Holdings Limited has a 12-month low of $3.36 and a 12-month high of $6.62. The company has a quick ratio of 1.73, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $14.59 billion, a price-to-earnings ratio of 118.71, a P/E/G ratio of 0.80 and a beta of 0.93. The stock's 50-day moving average price is $4.23 and its 200 day moving average price is $5.09.

Grab (NASDAQ:GRAB - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.03. Grab had a return on equity of 4.09% and a net margin of 7.92%.The company had revenue of $906.00 million during the quarter, compared to the consensus estimate of $942.08 million. As a group, research analysts predict that Grab Holdings Limited will post 0.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GRAB has been the topic of a number of research analyst reports. HSBC raised Grab from a "hold" rating to a "buy" rating and set a $6.20 target price on the stock in a report on Friday, January 16th. Sanford C. Bernstein reissued an "outperform" rating and issued a $5.80 price objective on shares of Grab in a research report on Monday, January 26th. Weiss Ratings restated a "hold (c-)" rating on shares of Grab in a research note on Thursday, January 22nd. Benchmark reaffirmed a "buy" rating on shares of Grab in a research report on Thursday, February 12th. Finally, Wall Street Zen upgraded shares of Grab from a "sell" rating to a "hold" rating in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $6.47.

Grab Company Profile

Grab Holdings Inc is a Singapore-based technology company that operates a consumer-facing "super app" across Southeast Asia offering services spanning ride-hailing, food and package delivery, and digital payments. Its platform connects consumers, drivers, merchants and delivery partners through mobile applications and supports on-demand mobility (taxi and private car), last-mile logistics, and on-demand food delivery under brands such as GrabFood and GrabExpress. The company has also developed a merchant-facing ecosystem that supports ordering, payment acceptance and loyalty functions.

Beyond transportation and delivery, Grab has expanded into financial services through Grab Financial Group, which provides digital payments via GrabPay, consumer lending, insurance distribution and small-business financial solutions.

Want to see what other hedge funds are holding GRAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Grab Holdings Limited (NASDAQ:GRAB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.