Millennium Management LLC Has $62.63 Million Position in Grab Holdings Limited (NASDAQ:GRAB)

Millennium Management LLC lifted its position in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 195.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,269,994 shares of the company's stock after purchasing an additional 8,773,138 shares during the quarter. Millennium Management LLC owned 0.33% of Grab worth $62,634,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Twin Tree Management LP bought a new position in Grab during the fourth quarter worth about $25,000. Campbell Capital Management Inc. bought a new position in shares of Grab during the 4th quarter valued at about $30,000. Global Retirement Partners LLC acquired a new position in shares of Grab in the 4th quarter valued at approximately $30,000. TD Private Client Wealth LLC increased its stake 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 purchasing an additional 7,890 shares in the last quarter. Finally, Allianz SE acquired a new stake in Grab during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 55.52% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GRAB. CLSA upgraded shares of Grab to a "moderate buy" rating in a report on Wednesday, April 9th. Hsbc Global Res raised Grab from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 4th. Benchmark reaffirmed a "buy" rating and issued a $6.00 target price on shares of Grab in a report on Thursday, February 20th. Barclays lifted their price objective on shares of Grab from $5.50 to $6.50 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Finally, Citigroup restated a "buy" rating on shares of Grab in a report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $5.71.

Grab Price Performance

GRAB stock traded down $0.06 during mid-day trading on Wednesday, hitting $4.89. The stock had a trading volume of 7,375,813 shares, compared to its average volume of 35,764,523. The firm has a fifty day simple moving average of $4.52 and a 200 day simple moving average of $4.71. The firm has a market capitalization of $19.67 billion, a P/E ratio of -244.25, a P/E/G ratio of 2.26 and a beta of 0.86. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. Grab Holdings Limited has a 52 week low of $2.98 and a 52 week high of $5.72.

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