Wells Fargo & Company MN Purchases 205,274 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Wells Fargo & Company MN lifted its stake in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 1,032.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 225,155 shares of the company's stock after acquiring an additional 205,274 shares during the quarter. Wells Fargo & Company MN's holdings in Grab were worth $1,063,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Baillie Gifford & Co. lifted its stake in shares of Grab by 10.0% in the 4th quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company's stock valued at $221,942,000 after purchasing an additional 4,259,537 shares during the last quarter. Tidal Investments LLC grew its holdings in shares of Grab by 4,311.8% during 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 in the last quarter. Leibman Financial Services Inc. acquired a new stake in Grab during the fourth quarter worth $937,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Grab by 2.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,707,627 shares of the company's stock worth $22,220,000 after acquiring an additional 134,243 shares during the period. Finally, Baader Bank Aktiengesellschaft lifted its stake in Grab by 764.5% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 315,000 shares of the company's stock worth $1,487,000 after purchasing an additional 278,563 shares during the period. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Bank of America raised shares of Grab from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $4.90 to $5.10 in a research note on Tuesday, January 7th. Benchmark restated a "buy" rating and issued a $6.00 target price on shares of Grab in a research note on Thursday, February 20th. Barclays raised their price objective on shares of Grab from $5.50 to $6.50 and gave the company an "overweight" rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. dropped their price objective on Grab from $5.60 to $5.30 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, Hsbc Global Res raised shares of Grab from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.60.

Grab Stock Performance

GRAB traded up $0.11 on Monday, reaching $5.00. The company had a trading volume of 7,010,641 shares, compared to its average volume of 36,444,430. The company's fifty day moving average is $4.43 and its 200 day moving average is $4.64. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. The stock has a market cap of $20.11 billion, a P/E ratio of -249.75, 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.

Grab (NASDAQ:GRAB - Get Free Report) last released its quarterly 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 business had revenue of $764.00 million during the quarter, compared to the consensus estimate of $762.57 million. As a group, analysts predict 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.