45,164,580 Shares in Grab Holdings Limited (NASDAQ:GRAB) Bought by Perpetual Ltd

Perpetual Ltd acquired a new stake in Grab Holdings Limited (NASDAQ:GRAB) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 45,164,580 shares of the company’s stock, valued at approximately $213,177,000. Grab makes up about 2.5% of Perpetual Ltd’s portfolio, making the stock its 9th largest position. Perpetual Ltd owned 1.12% of Grab as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in Grab by 13.4% during the 3rd quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock worth $472,394,000 after purchasing an additional 14,671,388 shares during the period. State Street Corp raised its holdings in shares of Grab by 2.3% in the third quarter. State Street Corp now owns 43,570,388 shares of the company’s stock valued at $165,567,000 after buying an additional 967,233 shares during the last quarter. Coronation Fund Managers Ltd. boosted its stake in shares of Grab by 11.4% during the third quarter. Coronation Fund Managers Ltd. now owns 33,735,725 shares of the company’s stock worth $128,196,000 after buying an additional 3,442,581 shares during the period. Marshall Wace LLP grew its holdings in shares of Grab by 39.7% during the second quarter. Marshall Wace LLP now owns 30,405,993 shares of the company’s stock worth $107,941,000 after buying an additional 8,635,310 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Grab by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 20,666,618 shares of the company’s stock valued at $77,414,000 after acquiring an additional 591,898 shares during the period. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on GRAB shares. Bank of America upgraded shares of Grab from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $4.90 to $5.10 in a research report on Tuesday, January 7th. Benchmark reissued a “buy” rating and set a $6.00 price target on shares of Grab in a report on Tuesday, November 12th. Daiwa Capital Markets began coverage on Grab in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $4.60 price objective on the stock. JPMorgan Chase & Co. increased their target price on Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Finally, China Renaissance cut Grab from a “buy” rating to a “hold” rating and set a $5.40 price target for the company. in a report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Grab has a consensus rating of “Moderate Buy” and a consensus price target of $5.55.

Grab Price Performance

Grab stock opened at $4.50 on Tuesday. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $18.12 billion, a P/E ratio of -225.00, a PEG ratio of 1.77 and a beta of 0.90. The firm has a fifty day moving average of $4.96 and a 200-day moving average of $4.06. Grab Holdings Limited has a 52-week low of $2.94 and a 52-week high of $5.72.

Grab (NASDAQ:GRAB) last announced its earnings results on Monday, November 11th. The company reported $0.01 EPS for the quarter. The business had revenue of $716.00 million for the quarter, compared to the consensus estimate of $705.40 million. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. During the same period last year, the business posted ($0.02) EPS. As a group, analysts predict that Grab Holdings Limited will post -0.03 EPS for the current year.

About Grab

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.