Mitsubishi UFJ Asset Management Co. Ltd. Grows Position in Grab Holdings Limited (NASDAQ:GRAB)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Grab Holdings Limited (NASDAQ:GRAB) by 0.8% in the fourth quarter, Holdings Channel reports. The firm owned 1,440,536 shares of the company’s stock after purchasing an additional 11,440 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Grab were worth $6,929,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Twin Tree Management LP purchased a new stake in Grab during the fourth quarter worth approximately $25,000. Campbell Capital Management Inc. acquired a new position in shares of Grab during the 4th quarter valued at $30,000. Global Retirement Partners LLC purchased a new stake in Grab during the 4th quarter worth $30,000. TD Private Client Wealth LLC increased its holdings in Grab by 7,238.5% in the 4th 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 in the last quarter. Finally, New York Life Investment Management LLC purchased a new position in Grab in the fourth quarter valued at about $48,000. Institutional investors and hedge funds own 55.52% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GRAB. Citigroup reiterated a “buy” rating on shares of Grab in a research note on Tuesday, February 4th. Bank of America upgraded shares of Grab from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $4.90 to $5.10 in a research note on Tuesday, January 7th. JPMorgan Chase & Co. upgraded shares of Grab from a “neutral” rating to an “overweight” rating and set a $5.60 target price for the company in a research note on Friday, February 21st. HSBC raised shares of Grab from a “hold” rating to a “buy” rating and dropped their price target for the stock from $5.50 to $5.45 in a research note on Tuesday, February 4th. Finally, Hsbc Global Res raised shares of Grab from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $5.62.

Grab Stock Performance

Shares of GRAB stock opened at $4.53 on Tuesday. The stock has a market capitalization of $18.24 billion, a price-to-earnings ratio of -226.50, a PEG ratio of 2.26 and a beta of 0.88. Grab Holdings Limited has a one year low of $2.98 and a one year high of $5.72. The company’s 50-day simple moving average is $4.69 and its 200-day simple moving average is $4.54. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70.

Grab (NASDAQ:GRAB) last released its earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, hitting 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 company had revenue of $764.00 million for the quarter, compared to the consensus estimate of $762.57 million. Equities analysts anticipate 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.