State of New Jersey Common Pension Fund D bought a new position in Grab Holdings Limited (NASDAQ:GRAB – Get Rating) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 617,000 shares of the company’s stock, valued at approximately $2,160,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. bought a new position in Grab in the 4th quarter valued at approximately $64,000. Marathon Trading Investment Management LLC bought a new position in Grab in the 4th quarter valued at approximately $71,000. Stephens Inc. AR bought a new position in Grab in the 4th quarter valued at approximately $81,000. Alpha Cubed Investments LLC bought a new position in Grab in the 1st quarter valued at approximately $82,000. Finally, Commonwealth Equity Services LLC bought a new position in Grab in the 4th quarter valued at approximately $94,000. Institutional investors own 46.25% of the company’s stock.
Grab Trading Up 6.5 %
Shares of GRAB stock opened at $3.30 on Thursday. Grab Holdings Limited has a 52 week low of $2.26 and a 52 week high of $13.29. The company has a quick ratio of 8.03, a current ratio of 8.07 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average of $2.65 and a 200-day moving average of $3.57.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on GRAB. Citigroup reiterated a “maintains” rating on shares of Grab in a report on Friday, July 29th. KGI Securities initiated coverage on shares of Grab in a report on Monday, June 6th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. raised shares of Grab from a “neutral” rating to an “overweight” rating and set a $3.00 target price for the company in a research report on Monday, July 18th. They noted that the move was a valuation call. China Renaissance initiated coverage on shares of Grab in a research report on Monday, June 6th. They set a “buy” rating and a $4.20 target price for the company. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Grab in a research report on Friday, June 17th. They set a “buy” rating and a $3.20 target price for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.50.
Grab Holdings Limited provides superapps that allows access to mobility, delivery, financial services, and enterprise offerings through its mobile application in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The company is headquartered in Singapore.
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