Korea Investment CORP Buys 532,700 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Korea Investment CORP lifted its position in Grab Holdings Limited (NASDAQ:GRAB) by 54.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,505,489 shares of the company’s stock after purchasing an additional 532,700 shares during the quarter. Korea Investment CORP’s holdings in Grab were worth $7,106,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Hanwha Asset Management Co. Ltd. acquired a new position in Grab in the fourth quarter valued at about $227,718,000. Perpetual Ltd acquired a new position in shares of Grab in the 4th quarter worth approximately $213,177,000. Wellington Management Group LLP grew its position in Grab by 13.4% during the 3rd quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock worth $472,394,000 after acquiring an additional 14,671,388 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Grab by 109.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 16,946,914 shares of the company’s stock valued at $79,989,000 after purchasing an additional 8,868,071 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Grab by 179.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,462,483 shares of the company’s stock valued at $47,357,000 after purchasing an additional 8,004,912 shares during the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Trading Down 0.9 %

NASDAQ:GRAB opened at $4.53 on Tuesday. 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 firm has a market capitalization of $18.24 billion, a price-to-earnings ratio of -226.50, a PEG ratio of 2.26 and a beta of 0.88. The business’s 50-day moving average price is $4.69 and its two-hundred day moving average price is $4.54. Grab Holdings Limited has a 1-year low of $2.98 and a 1-year high of $5.72.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. The firm had revenue of $764.00 million during the quarter, compared to analysts’ expectations of $762.57 million. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. On average, equities analysts expect that Grab Holdings Limited will post 0.05 earnings per share for the current year.

Analyst Ratings Changes

GRAB has been the topic of several research analyst reports. JPMorgan Chase & Co. upgraded Grab from a “neutral” rating to an “overweight” rating and set a $5.60 target price on the stock in a report on Friday, February 21st. Benchmark restated a “buy” rating and issued a $6.00 price objective on shares of Grab in a research report on Thursday, February 20th. HSBC raised shares of Grab from a “hold” rating to a “buy” rating and dropped their target price for the stock from $5.50 to $5.45 in a research note on Tuesday, February 4th. Bank of America raised shares of Grab from an “underperform” rating to a “neutral” rating and increased their price target for the company from $4.90 to $5.10 in a research note on Tuesday, January 7th. Finally, Citigroup reaffirmed a “buy” rating on shares of Grab in a report on Tuesday, February 4th. Two 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.