DekaBank Deutsche Girozentrale grew its stake in shares of Grab Holdings Limited (NASDAQ:GRAB – Free Report) by 19.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 325,298 shares of the company’s stock after buying an additional 52,398 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Grab were worth $1,133,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of GRAB. Baillie Gifford & Co. purchased a new stake in Grab in the 2nd quarter worth approximately $166,587,000. Coronation Fund Managers Ltd. raised its position in shares of Grab by 29.7% in the second quarter. Coronation Fund Managers Ltd. now owns 45,452,613 shares of the company’s stock worth $161,357,000 after buying an additional 10,410,574 shares in the last quarter. Norges Bank bought a new stake in Grab during the fourth quarter valued at $146,995,000. Artisan Partners Limited Partnership grew its position in Grab by 11.3% during the fourth quarter. Artisan Partners Limited Partnership now owns 24,894,289 shares of the company’s stock worth $83,894,000 after buying an additional 2,523,484 shares in the last quarter. Finally, Prudential PLC increased its stake in Grab by 13.9% in the 2nd quarter. Prudential PLC now owns 20,226,225 shares of the company’s stock worth $71,803,000 after acquiring an additional 2,461,934 shares during the last quarter. 55.52% of the stock is currently owned by institutional investors.
Grab Price Performance
Shares of NASDAQ GRAB opened at $3.66 on Friday. The stock has a market capitalization of $14.36 billion, a P/E ratio of -52.29 and a beta of 0.81. Grab Holdings Limited has a one year low of $2.90 and a one year high of $3.77. The firm’s 50 day simple moving average is $3.33 and its two-hundred day simple moving average is $3.40. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.00 and a quick ratio of 2.97.
Analyst Ratings Changes
A number of brokerages have recently issued reports on GRAB. Benchmark reiterated a “buy” rating and set a $6.00 price target on shares of Grab in a research report on Wednesday, September 11th. Jefferies Financial Group cut their price target on shares of Grab from $5.00 to $4.70 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Finally, Mizuho initiated coverage on shares of Grab in a report on Thursday, June 27th. They issued an “outperform” rating and a $5.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $4.71.
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.
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