757,895 Shares in Grab Holdings Limited (NASDAQ:GRAB) Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama purchased a new position in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 757,895 shares of the company's stock, valued at approximately $3,433,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ellevest Inc. raised its stake in shares of Grab by 3.3% during the fourth quarter. Ellevest Inc. now owns 82,793 shares of the company's stock valued at $391,000 after purchasing an additional 2,636 shares during the period. Leibman Financial Services Inc. increased its holdings in shares of Grab by 1.7% in the 1st quarter. Leibman Financial Services Inc. now owns 201,858 shares of the company's stock worth $914,000 after acquiring an additional 3,331 shares during the period. Wedbush Securities Inc. boosted 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 acquiring an additional 3,500 shares during the period. Baldwin Wealth Partners LLC MA grew its stake in shares of Grab by 26.2% in the first quarter. Baldwin Wealth Partners LLC MA now owns 17,995 shares of the company's stock worth $82,000 after purchasing an additional 3,741 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Grab by 40.6% in the fourth 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 period. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on GRAB shares. JPMorgan Chase & Co. decreased their target price on Grab from $5.60 to $5.30 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. CLSA upgraded shares of 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, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Grab currently has an average rating of "Moderate Buy" and an average price target of $5.71.

Grab Stock Performance

Shares of GRAB traded up $0.25 during midday trading on Friday, reaching $4.92. The stock had a trading volume of 51,033,553 shares, compared to its average volume of 32,505,060. Grab Holdings Limited has a one year low of $2.98 and a one year high of $5.72. The firm has a market cap of $19.81 billion, a PE ratio of 233.50 and a beta of 0.84. The firm has a 50 day simple moving average of $4.80 and a 200-day simple moving average of $4.69. The company has a current ratio of 2.49, a quick ratio of 2.46 and a debt-to-equity ratio of 0.04.

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.