Assenagon Asset Management S.A. Buys 8,868,071 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Assenagon Asset Management S.A. increased its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 109.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,946,914 shares of the company’s stock after buying an additional 8,868,071 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Grab were worth $79,989,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of GRAB. Empowered Funds LLC grew its stake in shares of Grab by 7.7% in the 3rd quarter. Empowered Funds LLC now owns 43,788 shares of the company’s stock worth $166,000 after acquiring an additional 3,147 shares in the last quarter. Blue Trust Inc. grew its position in Grab by 53.6% in the 3rd quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after purchasing an additional 3,408 shares in the last quarter. FNY Investment Advisers LLC increased its stake in Grab by 13.9% in the 4th quarter. FNY Investment Advisers LLC now owns 28,700 shares of the company’s stock valued at $135,000 after buying an additional 3,500 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in shares of Grab by 0.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 776,458 shares of the company’s stock worth $2,951,000 after buying an additional 3,941 shares in the last quarter. Finally, First Trust Direct Indexing L.P. boosted its stake in shares of Grab by 34.5% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 18,435 shares of the company’s stock worth $70,000 after buying an additional 4,725 shares during the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. HSBC downgraded Grab from a “buy” rating to a “hold” rating and increased their price target for the company from $4.25 to $5.50 in a research report on Thursday, December 5th. Evercore ISI boosted their price target on shares of Grab from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Mizuho raised their price objective on shares of Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Bank of America upgraded shares of Grab from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $4.90 to $5.10 in a research note on Tuesday, January 7th. Finally, Hsbc Global Res lowered shares of Grab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Grab currently has an average rating of “Moderate Buy” and an average price target of $5.55.

Grab Trading Up 2.3 %

Shares of GRAB stock opened at $4.46 on Thursday. The stock has a market capitalization of $17.96 billion, a price-to-earnings ratio of -223.00 and a beta of 0.90. The company’s fifty day simple moving average is $4.94 and its two-hundred day simple moving average is $4.03. Grab Holdings Limited has a 1 year low of $2.90 and a 1 year high of $5.72. 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 (NASDAQ:GRAB) last released its quarterly earnings data on Monday, November 11th. The company reported $0.01 earnings per share (EPS) for the quarter. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. The company had revenue of $716.00 million for the quarter, compared to analyst estimates of $705.40 million. During the same period in the previous year, the company posted ($0.02) EPS. As a group, analysts anticipate that Grab Holdings Limited will post -0.03 earnings per share for the current 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.