DNB Asset Management AS Buys 3,419,456 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Posted by on Mar 21st, 2023

DNB Asset Management AS raised its stake in Grab Holdings Limited (NASDAQ:GRAB – Get Rating) by 2,542.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,553,975 shares of the company’s stock after purchasing an additional 3,419,456 shares during the period. DNB Asset Management AS owned 0.09% of Grab worth $11,444,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Capital Research Global Investors increased its stake in Grab by 50.9% in the first quarter. Capital Research Global Investors now owns 108,322,250 shares of the company’s stock valued at $379,128,000 after purchasing an additional 36,542,740 shares in the last quarter. BlackRock Inc. increased its position in shares of Grab by 12.3% during the third quarter. BlackRock Inc. now owns 59,537,755 shares of the company’s stock worth $156,584,000 after acquiring an additional 6,530,705 shares in the last quarter. FengHe Fund Management Pte. Ltd. bought a new stake in shares of Grab during the third quarter worth about $75,588,000. State Street Corp increased its position in shares of Grab by 37.7% during the third quarter. State Street Corp now owns 22,248,352 shares of the company’s stock worth $58,513,000 after acquiring an additional 6,086,110 shares in the last quarter. Finally, Capital International Investors increased its position in shares of Grab by 0.8% during the first quarter. Capital International Investors now owns 19,097,374 shares of the company’s stock worth $66,841,000 after acquiring an additional 145,174 shares in the last quarter. 46.57% of the stock is owned by institutional investors.

Grab Stock Down 2.4 %

Grab stock opened at $2.79 on Tuesday. Grab Holdings Limited has a fifty-two week low of $2.19 and a fifty-two week high of $4.08. The stock has a market cap of $10.44 billion, a PE ratio of -6.34 and a beta of 0.80. The firm’s 50-day simple moving average is $3.40 and its 200 day simple moving average is $3.09. The company has a debt-to-equity ratio of 0.19, a quick ratio of 5.14 and a current ratio of 5.19.

Grab (NASDAQ:GRAB – Get Rating) last released its earnings results on Thursday, February 23rd. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.04). The company had revenue of $502.00 million during the quarter, compared to analysts’ expectations of $405.39 million. Grab had a negative net margin of 117.45% and a negative return on equity of 23.71%. The company’s revenue for the quarter was up 311.5% compared to the same quarter last year. Research analysts predict that Grab Holdings Limited will post -0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GRAB shares. Macquarie started coverage on shares of Grab in a research report on Monday, March 13th. They set an “outperform” rating and a $4.00 target price for the company. Bank of America raised shares of Grab from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $3.60 to $4.20 in a research report on Tuesday, January 17th. Finally, JPMorgan Chase & Co. downgraded shares of Grab from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $3.20 to $2.80 in a research report on Wednesday, February 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Grab currently has an average rating of “Moderate Buy” and an average target price of $3.92.

About Grab

(Get Rating)

Grab Holdings Limited provides superapps that allows access to mobility, delivery, financial services, and enterprise offerings through its mobile application in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The company is headquartered in Singapore.

Featured Stories

Want to see what other hedge funds are holding GRAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Grab Holdings Limited (NASDAQ:GRAB – Get Rating).

Institutional Ownership by Quarter for Grab (NASDAQ:GRAB)

Receive News & Ratings for Grab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Grab and related companies with MarketBeat.com's FREE daily email newsletter.