Millennium Management LLC Buys 8,773,138 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Millennium Management LLC grew its stake in Grab Holdings Limited (NASDAQ:GRAB) by 195.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,269,994 shares of the company’s stock after buying an additional 8,773,138 shares during the quarter. Millennium Management LLC’s holdings in Grab were worth $62,634,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its stake in shares of 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 acquiring an additional 8,868,071 shares during the period. Perpetual Ltd bought a new stake in Grab during the 4th quarter worth approximately $213,177,000. Traynor Capital Management Inc. lifted its holdings in Grab by 47.7% during the fourth quarter. Traynor Capital Management Inc. now owns 15,800 shares of the company’s stock valued at $75,000 after purchasing an additional 5,100 shares in the last quarter. Mutual Advisors LLC bought a new position in shares of Grab in the fourth quarter worth approximately $115,000. Finally, Affinity Wealth Management LLC increased its stake in shares of Grab by 4.1% in the fourth quarter. Affinity Wealth Management LLC now owns 1,040,009 shares of the company’s stock worth $4,909,000 after purchasing an additional 40,533 shares in the last quarter. Institutional investors own 55.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GRAB shares. Barclays lifted their target price on shares of Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Citigroup restated a “buy” rating on shares of Grab in a research report on Tuesday, February 4th. Hsbc Global Res upgraded Grab from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Benchmark reissued a “buy” rating and set a $6.00 target price on shares of Grab in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. dropped their price target on Grab from $5.60 to $5.30 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Grab presently has an average rating of “Moderate Buy” and an average price target of $5.60.

Grab Trading Down 3.6%

Shares of GRAB stock opened at $5.06 on Friday. The company has a market cap of $20.38 billion, a PE ratio of -253.00, a price-to-earnings-growth ratio of 2.26 and a beta of 0.86. Grab Holdings Limited has a 1 year low of $2.98 and a 1 year high of $5.72. The stock’s 50 day simple moving average is $4.48 and its two-hundred day simple moving average is $4.69. 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 (NASDAQ:GRAB) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The company had revenue of $764.00 million for the quarter, compared to analyst estimates of $762.57 million. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. Research analysts predict that Grab Holdings Limited will post 0.05 earnings per share for the current year.

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.