OVERSEA CHINESE BANKING Corp Ltd Acquires 5,755,060 Shares of Grab Holdings Limited (NASDAQ:GRAB)

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

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Twin Tree Management LP bought a new stake in shares of Grab during the 4th quarter worth about $25,000. Garde Capital Inc. bought a new stake in shares of Grab during the 1st quarter worth about $29,000. TD Private Client Wealth LLC raised its position in shares of Grab by 7,238.5% during the 4th quarter. TD Private Client Wealth LLC now owns 7,999 shares of the company's stock worth $38,000 after buying an additional 7,890 shares in the last quarter. Allianz SE bought a new stake in shares of Grab during the 4th quarter worth about $44,000. Finally, J2 Capital Management Inc bought a new stake in shares of Grab during the 1st quarter worth about $45,000. 55.52% of the stock is owned by institutional investors and hedge funds.

Grab Trading Up 2.3%

Shares of GRAB stock traded up $0.12 during trading hours on Thursday, reaching $5.25. 50,855,185 shares of the stock traded hands, compared to its average volume of 33,733,450. Grab Holdings Limited has a 1-year low of $2.98 and a 1-year high of $5.72. The business has a fifty day moving average price of $4.90 and a 200 day moving average price of $4.68. 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 has a market capitalization of $21.14 billion, a PE ratio of 262.63 and a beta of 0.84.

Analyst Upgrades and Downgrades

GRAB has been the topic of a number of recent analyst reports. CLSA upgraded shares of Grab to a "moderate buy" rating in a research report on Wednesday, April 9th. JPMorgan Chase & Co. dropped their target price on shares of Grab from $5.60 to $5.30 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Two investment 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's stock. Based on data from MarketBeat, Grab presently has a consensus rating of "Moderate Buy" and an average price target of $5.71.

About Grab

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.