Sumitomo Mitsui Trust Group Inc. Buys 588,666 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 12.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 5,296,293 shares of the company's stock after buying an additional 588,666 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.13% of Grab worth $23,992,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GRAB. Sequoia Financial Advisors LLC lifted its position in Grab by 6.0% during the first quarter. Sequoia Financial Advisors LLC now owns 45,934 shares of the company's stock worth $208,000 after acquiring an additional 2,581 shares during the last quarter. Ellevest Inc. lifted its holdings in Grab by 3.3% during the 4th quarter. Ellevest Inc. now owns 82,793 shares of the company's stock worth $391,000 after purchasing an additional 2,636 shares during the last quarter. Leibman Financial Services Inc. boosted its stake in Grab by 1.7% in the 1st quarter. Leibman Financial Services Inc. now owns 201,858 shares of the company's stock valued at $914,000 after purchasing an additional 3,331 shares during the period. Wedbush Securities Inc. boosted its stake in Grab by 19.1% in the 4th quarter. Wedbush Securities Inc. now owns 21,800 shares of the company's stock valued at $103,000 after purchasing an additional 3,500 shares during the period. Finally, Baldwin Wealth Partners LLC MA grew its holdings in Grab by 26.2% in the 1st quarter. Baldwin Wealth Partners LLC MA now owns 17,995 shares of the company's stock valued at $82,000 after buying an additional 3,741 shares in the last quarter. Institutional investors own 55.52% of the company's stock.

Grab Stock Performance

NASDAQ GRAB opened at $4.90 on Thursday. The firm's 50 day simple moving average is $4.86 and its 200 day simple moving average is $4.68. The firm has a market capitalization of $19.73 billion, a price-to-earnings ratio of 245.12 and a beta of 0.84. 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 Holdings Limited has a 1 year low of $2.98 and a 1 year high of $5.72.

Wall Street Analysts Forecast Growth

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

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