91,191 Shares in Grab Holdings Limited (NASDAQ:GRAB) Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd acquired a new position in shares of Grab Holdings Limited (NASDAQ:GRAB) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 91,191 shares of the company’s stock, valued at approximately $430,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Twin Tree Management LP purchased a new stake in Grab in the fourth quarter valued at $25,000. Global Retirement Partners LLC purchased a new stake in Grab in the fourth quarter valued at $30,000. Campbell Capital Management Inc. purchased a new stake in Grab in the fourth quarter valued at $30,000. SeaBridge Investment Advisors LLC purchased a new stake in Grab in the fourth quarter valued at $48,000. Finally, New York Life Investment Management LLC purchased a new stake in Grab in the fourth quarter valued at $48,000. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Grab Trading Up 1.3 %

NASDAQ:GRAB opened at $4.64 on Friday. The stock has a 50-day simple moving average of $4.66 and a 200-day simple moving average of $4.47. The stock has a market cap of $18.69 billion, a P/E ratio of -232.00, a P/E/G ratio of 2.26 and a beta of 0.88. Grab Holdings Limited has a 1 year low of $2.98 and a 1 year high of $5.72. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share (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. As a group, analysts anticipate that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GRAB has been the topic of a number of research analyst reports. Hsbc Global Res upgraded Grab from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Barclays lifted their price objective on Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. raised Grab from a “neutral” rating to an “overweight” rating and set a $5.60 price objective for the company in a research note on Friday, February 21st. Citigroup reaffirmed a “buy” rating on shares of Grab in a research note on Tuesday, February 4th. Finally, Benchmark reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Grab in a research note on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $5.62.

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.