Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Buys 128,914 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Grab Holdings Limited (NASDAQ:GRAB – Get Rating) by 40.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 446,523 shares of the company’s stock after purchasing an additional 128,914 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Grab were worth $1,174,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Arena Capital Advisors LLC CA bought a new stake in shares of Grab during the 1st quarter worth $35,000. Sage Rhino Capital LLC bought a new stake in Grab during the third quarter worth about $26,000. Dimensional Fund Advisors LP purchased a new position in shares of Grab in the 1st quarter worth about $40,000. Kore Private Wealth LLC bought a new position in shares of Grab during the 2nd quarter valued at about $29,000. Finally, Private Advisor Group LLC purchased a new position in shares of Grab during the 2nd quarter valued at about $31,000. Hedge funds and other institutional investors own 46.57% of the company’s stock.

Grab Stock Performance

Shares of NASDAQ:GRAB opened at $3.68 on Friday. The stock’s 50-day moving average is $3.24 and its 200 day moving average is $3.02. The company has a debt-to-equity ratio of 0.29, a quick ratio of 7.08 and a current ratio of 7.12. Grab Holdings Limited has a 1 year low of $2.19 and a 1 year high of $6.61.

Grab (NASDAQ:GRAB – Get Rating) last posted its earnings results on Wednesday, November 16th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Grab had a negative net margin of 222.20% and a negative return on equity of 32.22%. The business had revenue of $382.00 million for the quarter, compared to analysts’ expectations of $345.58 million. On average, analysts anticipate that Grab Holdings Limited will post -0.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Barclays began coverage on Grab in a research note on Monday, October 10th. They issued an “equal weight” rating and a $3.00 target price for the company. Citigroup reduced their target price on shares of Grab from $5.40 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, November 8th. Finally, Bank of America raised shares of Grab from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $3.60 to $4.20 in a research note on Tuesday, January 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $4.83.

Grab Company Profile

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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.