Russell Investments Group Ltd. Purchases 7,004,116 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Russell Investments Group Ltd. increased its position in Grab Holdings Limited (NASDAQ:GRAB) by 137.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 12,094,662 shares of the company’s stock after buying an additional 7,004,116 shares during the period. Russell Investments Group Ltd.’s holdings in Grab were worth $57,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Twin Tree Management LP bought a new position in shares of Grab in the fourth quarter worth about $25,000. Global Retirement Partners LLC acquired a new stake in Grab in the 4th quarter valued at approximately $30,000. Campbell Capital Management Inc. bought a new position in Grab in the 4th quarter worth approximately $30,000. TD Private Client Wealth LLC lifted its holdings in shares of Grab by 7,238.5% during the fourth quarter. TD Private Client Wealth LLC now owns 7,999 shares of the company’s stock worth $38,000 after buying an additional 7,890 shares during the last quarter. Finally, Allianz SE bought a new stake in shares of Grab in the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Stock Down 12.4 %

NASDAQ GRAB opened at $3.73 on Monday. The stock’s 50 day simple moving average is $4.66 and its 200 day simple moving average is $4.56. Grab Holdings Limited has a one year low of $2.98 and a one year high of $5.72. The firm has a market cap of $15.02 billion, a PE ratio of -186.50, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67.

Grab (NASDAQ:GRAB) last announced its earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate 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 analysts’ expectations of $762.57 million. As a group, sell-side analysts forecast that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Grab from a “neutral” rating to an “overweight” rating and set a $5.60 price objective on the stock in a report on Friday, February 21st. Hsbc Global Res raised Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Benchmark reissued a “buy” rating and set a $6.00 price objective on shares of Grab in a report on Thursday, February 20th. Citigroup restated a “buy” rating on shares of Grab in a research note on Tuesday, February 4th. Finally, Barclays lifted their price target on shares of Grab from $5.50 to $6.50 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.62.

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.