Northern Trust Corp Has $54.18 Million Stock Position in Grab Holdings Limited (NASDAQ:GRAB)

Northern Trust Corp grew its stake in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 44.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,479,453 shares of the company's stock after purchasing an additional 3,551,298 shares during the period. Northern Trust Corp owned about 0.29% of Grab worth $54,183,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in GRAB. Twin Tree Management LP acquired a new stake in Grab during the 4th quarter worth approximately $25,000. Campbell Capital Management Inc. acquired a new stake in Grab during the 4th quarter worth approximately $30,000. Global Retirement Partners LLC acquired a new stake in Grab during the 4th quarter worth approximately $30,000. TD Private Client Wealth LLC boosted its position in 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 during the period. Finally, Allianz SE acquired a new stake in Grab during the 4th quarter worth approximately $44,000. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GRAB has been the topic of a number of analyst reports. Benchmark reaffirmed a "buy" rating and issued a $6.00 price objective on shares of Grab in a research note on Thursday, February 20th. HSBC raised shares of Grab from a "hold" rating to a "buy" rating and lowered their target price for the stock from $5.50 to $5.45 in a research note on Tuesday, February 4th. Barclays lifted their target price on shares of Grab from $5.50 to $6.50 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. lowered their target price 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. Finally, Citigroup reissued a "buy" rating on shares of Grab in a research note on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Grab has a consensus rating of "Moderate Buy" and a consensus price target of $5.60.

Grab Stock Up 1.0%

GRAB traded up $0.05 during midday trading on Tuesday, hitting $5.04. The company had a trading volume of 18,385,213 shares, compared to its average volume of 30,509,967. Grab Holdings Limited has a 52 week low of $2.98 and a 52 week high of $5.72. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $20.30 billion, a price-to-earnings ratio of -252.00, a PEG ratio of 2.26 and a beta of 0.86. The stock's 50 day moving average price is $4.44 and its 200 day moving average price is $4.68.

Grab (NASDAQ:GRAB - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. The firm had revenue of $764.00 million during the quarter, compared to the consensus estimate of $762.57 million. On average, research analysts anticipate that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

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.