Norges Bank Makes New Investment in Grab Holdings Limited (NASDAQ:GRAB)

Norges Bank purchased a new stake in Grab Holdings Limited (NASDAQ:GRAB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 30,916,734 shares of the company’s stock, valued at approximately $145,927,000.

Several other institutional investors have also made changes to their positions in GRAB. Wellington Management Group LLP increased its stake in Grab by 13.4% during the 3rd quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock worth $472,394,000 after acquiring an additional 14,671,388 shares during the period. Hanwha Asset Management Co. Ltd. acquired a new stake in shares of Grab during the 4th quarter worth $227,718,000. Baillie Gifford & Co. increased its position in shares of Grab by 10.0% in the fourth quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company’s stock worth $221,942,000 after purchasing an additional 4,259,537 shares during the period. Perpetual Ltd acquired a new position in Grab in the fourth quarter valued at about $213,177,000. Finally, State Street Corp lifted its position in Grab by 2.3% during the third quarter. State Street Corp now owns 43,570,388 shares of the company’s stock worth $165,567,000 after purchasing an additional 967,233 shares during the period. 55.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. JPMorgan Chase & Co. raised shares of Grab from a “neutral” rating to an “overweight” rating and set a $5.60 target price on the stock in a report on Friday, February 21st. Barclays lifted their price objective 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. HSBC upgraded Grab from a “hold” rating to a “buy” rating and cut their target price for the stock from $5.50 to $5.45 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 note on Tuesday, February 4th. Finally, Citigroup restated a “buy” rating on shares of Grab in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $5.62.

Grab Price Performance

Grab stock opened at $4.53 on Tuesday. The company has a market capitalization of $18.24 billion, a PE ratio of -226.50, a P/E/G ratio of 2.26 and a beta of 0.88. 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 stock has a 50-day moving average price of $4.69 and a two-hundred day moving average price of $4.54. Grab Holdings Limited has a 12 month low of $2.98 and a 12 month high of $5.72.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. The business had revenue of $764.00 million during the quarter, compared to analyst estimates of $762.57 million. Analysts expect that Grab Holdings Limited will post 0.05 EPS for the current year.

About Grab

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.