Skandinaviska Enskilda Banken AB publ Buys 51,400 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Skandinaviska Enskilda Banken AB publ raised its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 21.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 296,303 shares of the company’s stock after acquiring an additional 51,400 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Grab were worth $1,410,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. ANTIPODES PARTNERS Ltd bought a new position in shares of Grab during the 4th quarter worth approximately $585,000. Vestcor Inc increased its position in shares of Grab by 16.6% during the fourth quarter. Vestcor Inc now owns 33,602 shares of the company’s stock valued at $159,000 after acquiring an additional 4,776 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Grab by 939.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,543,015 shares of the company’s stock worth $35,603,000 after acquiring an additional 6,817,452 shares during the period. Avantax Advisory Services Inc. purchased a new position in Grab in the fourth quarter worth $125,000. Finally, Jupiter Asset Management Ltd. purchased a new position in Grab in the fourth quarter worth $17,614,000. 55.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Barclays lifted their target price on Grab from $5.50 to $6.50 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. HSBC raised shares of Grab from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $5.50 to $5.45 in a research report on Tuesday, February 4th. Hsbc Global Res upgraded shares of Grab from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. China Renaissance downgraded Grab from a “buy” rating to a “hold” rating and set a $5.40 price objective on the stock. in a research note on Thursday, November 21st. Finally, Benchmark reissued a “buy” rating and issued a $6.00 target price on shares of Grab in a research report on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $5.62.

Grab Stock Performance

Shares of GRAB opened at $4.45 on Tuesday. Grab Holdings Limited has a 52-week low of $2.98 and a 52-week high of $5.72. The stock’s 50-day simple moving average is $4.66 and its 200 day simple moving average is $4.44. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. The stock has a market capitalization of $17.92 billion, a price-to-earnings ratio of -222.50, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88.

Grab (NASDAQ:GRAB) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $764.00 million for the quarter, compared to the consensus estimate of $762.57 million. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. Research analysts forecast that Grab Holdings Limited will post 0.05 EPS for the current fiscal 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.