Ramirez Asset Management Inc. Makes New Investment in Grab Holdings Limited (NASDAQ:GRAB)

Key Points

• Ramirez Asset Management Inc. has acquired a new stake of 302,683 shares in Grab Holdings Limited valued at approximately $1.37 million.
• Other significant investors, including Uber Technologies Inc. and Toyota Motor Corp, also established new positions, indicating increased institutional interest in Grab.
• Analysts rate Grab as a "moderate buy" with a consensus target price of $5.82, despite a recent decrease in stock price to $5.28.

Ramirez Asset Management Inc. acquired a new stake in Grab Holdings Limited (NASDAQ:GRAB - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 302,683 shares of the company's stock, valued at approximately $1,371,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GRAB. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Grab by 19.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,521,089 shares of the company's stock valued at $6,891,000 after purchasing an additional 244,586 shares during the last quarter. HB Wealth Management LLC bought a new position in Grab in the 1st quarter worth approximately $64,000. TD Asset Management Inc grew its holdings in Grab by 21.4% in the 1st quarter. TD Asset Management Inc now owns 732,730 shares of the company's stock worth $3,319,000 after buying an additional 129,232 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in Grab by 21.7% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 360,603 shares of the company's stock worth $1,634,000 after buying an additional 64,300 shares in the last quarter. Finally, Baillie Gifford & Co. grew its holdings in Grab by 7.3% in the 1st quarter. Baillie Gifford & Co. now owns 50,443,998 shares of the company's stock worth $228,511,000 after buying an additional 3,422,289 shares in the last quarter. 55.52% of the stock is owned by institutional investors.

Grab Stock Down 1.7%

Shares of GRAB traded down $0.09 during mid-day trading on Friday, reaching $4.81. The company's stock had a trading volume of 29,324,568 shares, compared to its average volume of 37,105,930. The business has a fifty day moving average of $4.96 and a 200 day moving average of $4.73. The company has a market cap of $19.35 billion, a price-to-earnings ratio of 240.37 and a beta of 0.84. Grab Holdings Limited has a 1 year low of $2.98 and a 1 year 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.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GRAB shares. JPMorgan Chase & Co. decreased their price objective on Grab from $5.60 to $5.30 and set an "overweight" rating for the company in a report on Wednesday, April 16th. CLSA raised Grab to a "moderate buy" rating in a research note on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.