47,839,997 Shares in Grab Holdings Limited (NASDAQ:GRAB) Purchased by Hanwha Asset Management Co. Ltd.

Hanwha Asset Management Co. Ltd. bought a new position in Grab Holdings Limited (NASDAQ:GRAB) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 47,839,997 shares of the company’s stock, valued at approximately $227,718,000. Grab makes up 100.0% of Hanwha Asset Management Co. Ltd.’s holdings, making the stock its largest position. Hanwha Asset Management Co. Ltd. owned 1.19% of Grab at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Empowered Funds LLC raised its position in Grab by 7.7% during the third quarter. Empowered Funds LLC now owns 43,788 shares of the company’s stock valued at $166,000 after purchasing an additional 3,147 shares during the period. FNY Investment Advisers LLC raised its position in Grab by 13.9% during the fourth quarter. FNY Investment Advisers LLC now owns 28,700 shares of the company’s stock valued at $135,000 after purchasing an additional 3,500 shares during the period. Vestcor Inc raised its position in 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 purchasing an additional 4,776 shares during the period. Traynor Capital Management Inc. raised its position in Grab by 47.7% during the fourth quarter. Traynor Capital Management Inc. now owns 15,800 shares of the company’s stock valued at $75,000 after purchasing an additional 5,100 shares during the period. Finally, Metis Global Partners LLC raised its position in Grab by 10.9% during the third quarter. Metis Global Partners LLC now owns 53,262 shares of the company’s stock valued at $202,000 after purchasing an additional 5,221 shares during the period. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Grab Stock Up 3.4 %

Shares of NASDAQ GRAB opened at $4.60 on Wednesday. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $18.52 billion, a PE ratio of -230.00, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88. The stock’s fifty day simple moving average is $4.66 and its two-hundred day simple moving average is $4.45. Grab Holdings Limited has a 12-month low of $2.98 and a 12-month high of $5.72.

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GRAB. Benchmark restated a “buy” rating and set a $6.00 price objective on shares of Grab in a research report on Thursday, February 20th. Barclays upped their price objective on Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. upgraded Grab from a “neutral” rating to an “overweight” rating and set a $5.60 price target on the stock in a report on Friday, February 21st. Hsbc Global Res upgraded Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Finally, HSBC upgraded Grab from a “hold” rating to a “buy” rating and reduced their price target for the stock from $5.50 to $5.45 in a report on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $5.62.

Grab Company 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.