OVERSEA CHINESE BANKING Corp Ltd Boosts Stock Position in Grab Holdings Limited (NASDAQ:GRAB)

OVERSEA CHINESE BANKING Corp Ltd lifted its position in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 76.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,318,393 shares of the company's stock after acquiring an additional 5,755,060 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd owned approximately 0.33% of Grab worth $60,332,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Twin Tree Management LP bought a new stake in Grab in the 4th quarter worth about $25,000. Garde Capital Inc. purchased a new position in shares of Grab in the 1st quarter worth approximately $29,000. TD Private Client Wealth LLC grew its holdings in shares of Grab by 7,238.5% in the fourth quarter. TD Private Client Wealth LLC now owns 7,999 shares of the company's stock valued at $38,000 after acquiring an additional 7,890 shares in the last quarter. Allianz SE purchased a new stake in shares of Grab during the fourth quarter valued at approximately $44,000. Finally, J2 Capital Management Inc purchased a new stake in shares of Grab during the first quarter valued at approximately $45,000. Hedge funds and other institutional investors own 55.52% of the company's stock.

Grab Stock Performance

Grab stock traded up $0.01 during midday trading on Monday, reaching $5.01. The stock had a trading volume of 27,005,248 shares, compared to its average volume of 36,524,332. The firm has a market capitalization of $20.18 billion, a PE ratio of 250.63 and a beta of 0.84. Grab Holdings Limited has a 12 month low of $2.98 and a 12 month high of $5.72. The company has a quick ratio of 2.46, a current ratio of 2.49 and a debt-to-equity ratio of 0.04. The firm's 50-day moving average price is $4.88 and its 200 day moving average price is $4.67.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Grab from $5.60 to $5.30 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. CLSA upgraded shares of Grab to a "moderate buy" rating in a research report on Wednesday, April 9th. Two equities research 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 company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $5.71.

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.