Grab Holdings Limited (NASDAQ:GRAB) Shares Acquired by NewEdge Advisors LLC

NewEdge Advisors LLC grew its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 426.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,447 shares of the company's stock after buying an additional 64,370 shares during the quarter. NewEdge Advisors LLC's holdings in Grab were worth $375,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tidal Investments LLC raised its position in Grab by 4,311.8% in the 3rd quarter. Tidal Investments LLC now owns 445,103 shares of the company's stock worth $1,691,000 after purchasing an additional 435,014 shares during the period. Nordea Investment Management AB boosted its stake in shares of Grab by 15.4% during the fourth quarter. Nordea Investment Management AB now owns 17,181,844 shares of the company's stock valued at $81,356,000 after purchasing an additional 2,297,932 shares during the period. FNY Investment Advisers LLC grew its holdings in shares of Grab by 13.9% in the fourth quarter. FNY Investment Advisers LLC now owns 28,700 shares of the company's stock worth $135,000 after purchasing an additional 3,500 shares during the last quarter. Leibman Financial Services Inc. purchased a new position in Grab in the 4th quarter worth about $937,000. Finally, Assenagon Asset Management S.A. lifted its holdings in Grab by 109.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 16,946,914 shares of the company's stock valued at $79,989,000 after buying an additional 8,868,071 shares in the last quarter. Hedge funds and other institutional investors own 55.52% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on GRAB shares. HSBC raised shares of Grab from a "hold" rating to a "buy" rating and lowered their price objective for the stock from $5.50 to $5.45 in a research note on Tuesday, February 4th. Hsbc Global Res upgraded shares of Grab from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 4th. Barclays raised their target price on shares of Grab from $5.50 to $6.50 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Bank of America raised Grab from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $4.90 to $5.10 in a research report on Tuesday, January 7th. Finally, CLSA upgraded shares of Grab to a "moderate buy" rating in a research note on Wednesday, April 9th. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $5.60.

Grab Price Performance

NASDAQ GRAB traded up $0.12 during trading hours on Friday, reaching $4.89. The company's stock had a trading volume of 32,766,770 shares, compared to its average volume of 30,317,554. The company's 50-day moving average is $4.43 and its two-hundred day moving average is $4.63. Grab Holdings Limited has a 1-year low of $2.98 and a 1-year high of $5.72. The firm has a market capitalization of $19.69 billion, a price-to-earnings ratio of -244.50, a P/E/G ratio of 2.26 and a beta of 0.88. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67.

Grab (NASDAQ:GRAB - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. The company had revenue of $764.00 million during the quarter, compared to analysts' expectations of $762.57 million. On average, equities analysts predict 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.