Handelsbanken Fonder AB Buys 164,850 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Handelsbanken Fonder AB lifted its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 40.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 570,406 shares of the company’s stock after purchasing an additional 164,850 shares during the quarter. Handelsbanken Fonder AB’s holdings in Grab were worth $1,922,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GRAB. National Bank of Canada FI bought a new position in Grab in the 3rd quarter worth about $35,000. Optas LLC bought a new position in Grab in the 4th quarter worth about $36,000. Sage Rhino Capital LLC bought a new position in Grab in the 3rd quarter worth about $38,000. Jump Financial LLC bought a new position in Grab in the 3rd quarter worth about $41,000. Finally, Cable Hill Partners LLC bought a new position in Grab in the 3rd quarter worth about $48,000. 55.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GRAB has been the topic of a number of research analyst reports. Barclays decreased their target price on Grab from $4.50 to $4.30 and set an “overweight” rating on the stock in a research note on Monday, February 5th. HSBC reiterated a “buy” rating and set a $4.30 price objective on shares of Grab in a research report on Thursday, April 4th. Finally, JPMorgan Chase & Co. upgraded Grab from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $3.60 to $3.80 in a research report on Thursday, January 18th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $5.10.

Grab Price Performance

Shares of Grab stock opened at $3.50 on Friday. The company has a current ratio of 3.90, a quick ratio of 3.87 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $13.73 billion, a PE ratio of -35.00 and a beta of 0.91. The business’s 50-day moving average price is $3.24 and its 200-day moving average price is $3.23. Grab Holdings Limited has a 12 month low of $2.67 and a 12 month high of $3.92.

Grab (NASDAQ:GRAB) last issued its earnings results on Thursday, February 22nd. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.03. The company had revenue of $653.00 million during the quarter, compared to analysts’ expectations of $633.82 million. Grab had a negative return on equity of 6.77% and a negative net margin of 18.43%. Grab’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.10) EPS. Sell-side analysts forecast that Grab Holdings Limited will post 0.01 EPS for the current fiscal year.

Grab 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.