Harvest Fund Management Co. Ltd Purchases Shares of 91,191 Grab Holdings Limited (NASDAQ:GRAB)

Harvest Fund Management Co. Ltd purchased a new stake in Grab Holdings Limited (NASDAQ:GRAB) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 91,191 shares of the company’s stock, valued at approximately $430,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vinva Investment Management Ltd raised its stake in Grab by 47.0% in the fourth quarter. Vinva Investment Management Ltd now owns 755,587 shares of the company’s stock valued at $3,597,000 after buying an additional 241,498 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of Grab by 9.3% in the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 7,563,333 shares of the company’s stock worth $35,649,000 after purchasing an additional 645,394 shares during the last quarter. Twin Tree Management LP purchased a new position in shares of Grab in the fourth quarter worth about $25,000. Corient Private Wealth LLC raised its stake in shares of Grab by 29.6% in the fourth quarter. Corient Private Wealth LLC now owns 128,187 shares of the company’s stock worth $605,000 after purchasing an additional 29,288 shares during the last quarter. Finally, Centurion Wealth Management LLC purchased a new position in shares of Grab in the fourth quarter worth about $113,000. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Grab Stock Performance

Shares of NASDAQ:GRAB opened at $4.64 on Friday. 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 business’s 50 day moving average price is $4.66 and its 200-day moving average price is $4.47. The firm has a market capitalization of $18.69 billion, a PE ratio of -232.00, a P/E/G ratio of 2.26 and a beta of 0.88. Grab Holdings Limited has a 1 year low of $2.98 and a 1 year high of $5.72.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on GRAB. Citigroup restated a “buy” rating on shares of Grab in a research note on Tuesday, February 4th. HSBC raised Grab from a “hold” rating to a “buy” rating and dropped their target price for the stock from $5.50 to $5.45 in a report on Tuesday, February 4th. Bank of America raised Grab from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $4.90 to $5.10 in a report on Tuesday, January 7th. JPMorgan Chase & Co. raised 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. Finally, Barclays raised their target price on Grab from $5.50 to $6.50 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Two 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 stock. Based on data from MarketBeat.com, Grab presently has a consensus rating of “Moderate Buy” and an average target price of $5.62.

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.