The Manufacturers Life Insurance Company Has $29.36 Million Stock Position in Grab Holdings Limited (NASDAQ:GRAB)

The Manufacturers Life Insurance Company lifted its stake in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 50.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,221,288 shares of the company's stock after buying an additional 2,094,412 shares during the quarter. The Manufacturers Life Insurance Company owned 0.15% of Grab worth $29,364,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in GRAB. Twin Tree Management LP bought a new stake in shares of Grab in the 4th quarter worth about $25,000. Campbell Capital Management Inc. bought a new stake in Grab in the fourth quarter valued at $30,000. Global Retirement Partners LLC acquired a new position in Grab during the 4th quarter valued at about $30,000. TD Private Client Wealth LLC increased its holdings in shares of Grab by 7,238.5% during the fourth quarter. TD Private Client Wealth LLC now owns 7,999 shares of the company's stock valued at $38,000 after purchasing an additional 7,890 shares during the period. Finally, Allianz SE bought a new stake in shares of Grab during the 4th quarter worth about $44,000. 55.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Benchmark reaffirmed a "buy" rating and set a $6.00 target price on shares of Grab in a report on Thursday, February 20th. Bank of America upgraded Grab from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $4.90 to $5.10 in a report on Tuesday, January 7th. Barclays raised their price objective on Grab from $5.50 to $6.50 and gave the company an "overweight" rating in a research note on Thursday, February 20th. HSBC raised Grab from a "hold" rating to a "buy" rating and cut their price objective for the stock from $5.50 to $5.45 in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Grab from $5.60 to $5.30 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Two 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.60.

Grab Price Performance

Shares of GRAB stock traded down $0.03 during trading hours on Monday, reaching $4.86. 25,039,262 shares of the company were exchanged, compared to its average volume of 30,360,251. The company has a market cap of $19.57 billion, a price-to-earnings ratio of -243.00, a P/E/G ratio of 2.26 and a beta of 0.88. Grab Holdings Limited has a fifty-two week low of $2.98 and a fifty-two week high of $5.72. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67. The stock's fifty day moving average is $4.43 and its two-hundred day moving average is $4.64.

Grab (NASDAQ:GRAB - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.01 EPS for the quarter, meeting analysts' consensus estimates of $0.01. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. The business had revenue of $764.00 million during the quarter, compared to the consensus estimate of $762.57 million. Sell-side analysts forecast that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

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.