OVERSEA CHINESE BANKING Corp Ltd Boosts Holdings in Grab Holdings Limited (NASDAQ:GRAB)

OVERSEA CHINESE BANKING Corp Ltd increased its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 23.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,917,939 shares of the company’s stock after purchasing an additional 1,316,081 shares during the period. OVERSEA CHINESE BANKING Corp Ltd owned 0.18% of Grab worth $26,241,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in GRAB. Empowered Funds LLC bought a new stake in Grab in the 1st quarter worth approximately $111,000. Forsta AP Fonden increased its stake in Grab by 1.1% in the 1st quarter. Forsta AP Fonden now owns 552,100 shares of the company’s stock worth $1,734,000 after acquiring an additional 6,100 shares during the last quarter. Sei Investments Co. increased its stake in Grab by 107.2% in the 1st quarter. Sei Investments Co. now owns 5,013,111 shares of the company’s stock worth $15,741,000 after acquiring an additional 2,593,616 shares during the last quarter. Headlands Technologies LLC bought a new stake in Grab in the 1st quarter worth approximately $236,000. Finally, Russell Investments Group Ltd. increased its position in shares of Grab by 6.4% during the 1st quarter. Russell Investments Group Ltd. now owns 3,393,371 shares of the company’s stock valued at $10,655,000 after purchasing an additional 205,128 shares during the last quarter. Institutional investors own 55.52% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Daiwa Capital Markets assumed coverage on Grab in a research report on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 target price on the stock. Jefferies Financial Group cut their target price on Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Finally, Benchmark reissued a “buy” rating and set a $6.00 target price on shares of Grab in a research report on Wednesday, September 11th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $4.70.

Grab Price Performance

GRAB opened at $4.38 on Tuesday. The business has a fifty day moving average of $3.78 and a 200 day moving average of $3.58. Grab Holdings Limited has a 52-week low of $2.90 and a 52-week high of $4.44. The company has a quick ratio of 2.97, a current ratio of 3.00 and a debt-to-equity ratio of 0.03. The stock has a market cap of $17.18 billion, a P/E ratio of -87.60 and a beta of 0.81.

Grab (NASDAQ:GRAB) last posted its quarterly earnings data on Thursday, August 15th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). Grab had a negative return on equity of 3.35% and a negative net margin of 8.24%. The company had revenue of $664.00 million during the quarter, compared to analysts’ expectations of $674.17 million. During the same quarter in the previous year, the business earned ($0.03) EPS. Grab’s revenue was up 17.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Grab Holdings Limited will post -0.04 EPS for the current year.

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.