BIT Capital GmbH Raises Stock Holdings in Grab Holdings Limited (NASDAQ:GRAB)

BIT Capital GmbH boosted its stake in Grab Holdings Limited (NASDAQ:GRAB) by 17.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 386,664 shares of the company’s stock after purchasing an additional 57,081 shares during the quarter. BIT Capital GmbH’s holdings in Grab were worth $1,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of Grab by 13.4% during the 3rd quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock valued at $472,394,000 after buying an additional 14,671,388 shares in the last quarter. Hanwha Asset Management Co. Ltd. bought a new position in Grab in the fourth quarter valued at $227,718,000. Baillie Gifford & Co. raised its position in Grab by 10.0% during the fourth quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company’s stock valued at $221,942,000 after purchasing an additional 4,259,537 shares in the last quarter. Perpetual Ltd bought a new stake in Grab during the fourth quarter worth about $213,177,000. Finally, State Street Corp boosted its holdings in shares of Grab by 2.3% in the 3rd quarter. State Street Corp now owns 43,570,388 shares of the company’s stock worth $165,567,000 after purchasing an additional 967,233 shares in the last quarter. 55.52% of the stock is owned by hedge funds and other institutional investors.

Grab Stock Up 5.3 %

Shares of NASDAQ:GRAB opened at $4.78 on Thursday. The stock’s 50-day moving average is $4.68 and its 200 day moving average is $4.50. The company has a market cap of $19.25 billion, a PE ratio of -239.00, a P/E/G ratio of 2.26 and a beta of 0.88. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67. Grab Holdings Limited has a 1 year low of $2.98 and a 1 year high of $5.72.

Grab (NASDAQ:GRAB) last posted 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. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. The firm had revenue of $764.00 million for the quarter, compared to analysts’ expectations of $762.57 million. Sell-side analysts anticipate that Grab Holdings Limited will post 0.05 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on GRAB shares. Citigroup restated a “buy” rating on shares of Grab in a research report on Tuesday, February 4th. Hsbc Global Res upgraded shares of Grab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. raised shares of 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 reissued a “buy” rating and issued a $6.00 price target on shares of Grab in a research note on Thursday, February 20th. Finally, HSBC raised Grab from a “hold” rating to a “buy” rating and reduced their price objective for the company from $5.50 to $5.45 in a research note on Tuesday, February 4th. Two equities 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.