OVERSEA CHINESE BANKING Corp Ltd Buys 645,394 Shares of Grab Holdings Limited (NASDAQ:GRAB)

OVERSEA CHINESE BANKING Corp Ltd raised its stake in Grab Holdings Limited (NASDAQ:GRAB) by 9.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,563,333 shares of the company’s stock after buying an additional 645,394 shares during the period. Grab comprises about 1.0% of OVERSEA CHINESE BANKING Corp Ltd’s investment portfolio, making the stock its 25th biggest position. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Grab were worth $35,649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in GRAB. Empowered Funds LLC lifted its stake in Grab by 7.7% during the third quarter. Empowered Funds LLC now owns 43,788 shares of the company’s stock worth $166,000 after purchasing an additional 3,147 shares during the last quarter. FNY Investment Advisers LLC raised its holdings in shares of Grab by 13.9% during the 4th quarter. FNY Investment Advisers LLC now owns 28,700 shares of the company’s stock valued at $135,000 after buying an additional 3,500 shares in the last quarter. Vestcor Inc lifted its position in Grab by 16.6% in the 4th quarter. Vestcor Inc now owns 33,602 shares of the company’s stock worth $159,000 after buying an additional 4,776 shares during the last quarter. Traynor Capital Management Inc. boosted its stake in Grab by 47.7% in the fourth quarter. Traynor Capital Management Inc. now owns 15,800 shares of the company’s stock worth $75,000 after buying an additional 5,100 shares in the last quarter. Finally, Metis Global Partners LLC grew its position in Grab by 10.9% during the third quarter. Metis Global Partners LLC now owns 53,262 shares of the company’s stock valued at $202,000 after acquiring an additional 5,221 shares during the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Analyst Upgrades and Downgrades

GRAB has been the topic of several recent research reports. Bank of America raised shares of Grab from an “underperform” rating to a “neutral” rating and increased their target price for the company from $4.90 to $5.10 in a report on Tuesday, January 7th. Citigroup reissued a “buy” rating on shares of Grab in a research note on Tuesday, February 4th. Hsbc Global Res upgraded Grab from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. HSBC raised Grab from a “hold” rating to a “buy” rating and dropped their price objective for the company from $5.50 to $5.45 in a research note on Tuesday, February 4th. Finally, China Renaissance lowered shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 price target for the company. in a report on Thursday, November 21st. Two investment 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.62.

Grab Trading Up 3.4 %

Grab stock opened at $4.60 on Wednesday. Grab Holdings Limited has a 12 month low of $2.98 and a 12 month high of $5.72. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. The business’s fifty day simple moving average is $4.66 and its two-hundred day simple moving average is $4.45. The company has a market capitalization of $18.52 billion, a price-to-earnings ratio of -230.00, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. The company had revenue of $764.00 million for the quarter, compared to the consensus estimate of $762.57 million. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. As a group, equities analysts predict that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

Grab Company 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.