Arrowstreet Capital Limited Partnership Acquires 33,257,610 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Arrowstreet Capital Limited Partnership boosted its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 5,066.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,914,101 shares of the company’s stock after buying an additional 33,257,610 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Grab were worth $160,075,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in GRAB. Allianz SE bought a new position in shares of Grab during the 4th quarter valued at approximately $44,000. DnB Asset Management AS lifted its stake in Grab by 331.3% in the fourth quarter. DnB Asset Management AS now owns 1,956,784 shares of the company’s stock valued at $9,236,000 after purchasing an additional 1,503,050 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in Grab by 26.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,684,868 shares of the company’s stock valued at $7,952,000 after purchasing an additional 355,012 shares during the last quarter. Norges Bank bought a new position in Grab during the fourth quarter valued at $145,927,000. Finally, BIT Capital GmbH increased its position in Grab by 17.3% in the fourth quarter. BIT Capital GmbH now owns 386,664 shares of the company’s stock worth $1,825,000 after buying an additional 57,081 shares during the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. HSBC raised Grab from a “hold” rating to a “buy” rating and dropped their price target for the company from $5.50 to $5.45 in a research report on Tuesday, February 4th. Barclays upped their price objective on shares of Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a report on Thursday, February 20th. Citigroup reiterated a “buy” rating on shares of Grab in a research note on Tuesday, February 4th. JPMorgan Chase & Co. upgraded shares of Grab from a “neutral” rating to an “overweight” rating and set a $5.60 price target on the stock in a research note on Friday, February 21st. Finally, Bank of America raised shares of Grab from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $4.90 to $5.10 in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Grab currently has a consensus rating of “Moderate Buy” and an average price target of $5.62.

Grab Stock Down 4.8 %

Shares of NASDAQ:GRAB opened at $4.57 on Monday. The firm has a fifty day moving average price of $4.68 and a two-hundred day moving average price of $4.53. The company has a market cap of $18.40 billion, a price-to-earnings ratio of -228.50, a PEG ratio of 2.26 and a beta of 0.88. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67. Grab Holdings Limited has a one year low of $2.98 and a one year high of $5.72.

Grab (NASDAQ:GRAB) last posted its earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. The business had revenue of $764.00 million during the quarter, compared to analysts’ expectations of $762.57 million. Analysts anticipate that Grab Holdings Limited will post 0.05 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.