Grab Holdings Limited (NASDAQ:GRAB) Position Raised by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Grab Holdings Limited (NASDAQ:GRAB) by 19.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 264,669 shares of the company’s stock after buying an additional 42,824 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Grab were worth $1,249,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Grab by 2.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,707,627 shares of the company’s stock worth $22,220,000 after purchasing an additional 134,243 shares during the last quarter. Leo Wealth LLC grew its position in Grab by 109.1% in the fourth quarter. Leo Wealth LLC now owns 37,913 shares of the company’s stock worth $179,000 after buying an additional 19,778 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Grab by 1.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,124,409 shares of the company’s stock worth $5,307,000 after buying an additional 17,517 shares during the last quarter. abrdn plc increased its holdings in shares of Grab by 8.6% in the fourth quarter. abrdn plc now owns 928,553 shares of the company’s stock valued at $4,383,000 after buying an additional 73,193 shares in the last quarter. Finally, SeaBridge Investment Advisors LLC acquired a new stake in shares of Grab during the 4th quarter valued at $48,000. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Grab Price Performance

GRAB opened at $4.78 on Wednesday. The company has a market capitalization of $19.25 billion, a P/E ratio of -239.00, a P/E/G ratio of 1.95 and a beta of 0.90. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67. The firm’s fifty day moving average price is $4.81 and its two-hundred day moving average price is $4.19. Grab Holdings Limited has a fifty-two week low of $2.98 and a fifty-two week high of $5.72.

Grab (NASDAQ:GRAB) last posted its earnings results on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. The business had revenue of $716.00 million for the quarter, compared to analysts’ expectations of $705.40 million. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. On average, analysts anticipate that Grab Holdings Limited will post -0.02 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GRAB. Hsbc Global Res raised Grab from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Benchmark reissued a “buy” rating and issued a $6.00 target price on shares of Grab in a research report on Tuesday, November 12th. HSBC upgraded shares of Grab from a “hold” rating to a “buy” rating and cut their price target for the company from $5.50 to $5.45 in a report 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 stock from $4.90 to $5.10 in a research report on Tuesday, January 7th. Finally, Daiwa Capital Markets assumed coverage on Grab in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 target price for the company. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $5.54.

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.