Grab Holdings Limited (NASDAQ:GRAB) is Perpetual Ltd’s 9th Largest Position

Perpetual Ltd reduced its position in Grab Holdings Limited (NASDAQ:GRAB) by 3.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,385,924 shares of the company’s stock after selling 1,778,656 shares during the quarter. Grab comprises approximately 2.4% of Perpetual Ltd’s portfolio, making the stock its 9th biggest position. Perpetual Ltd’s holdings in Grab were worth $196,538,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Uber Technologies Inc acquired a new stake in Grab during the 4th quarter worth $2,529,462,000. Toyota Motor Corp purchased a new stake in shares of Grab in the fourth quarter valued at about $1,052,117,000. Hanwha Asset Management Co. Ltd. purchased a new stake in shares of Grab in the fourth quarter valued at about $227,718,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Grab by 5,066.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 33,914,101 shares of the company’s stock worth $160,075,000 after buying an additional 33,257,610 shares during the period. Finally, Norges Bank purchased a new position in shares of Grab during the fourth quarter worth about $145,927,000. 55.52% of the stock is currently owned by hedge funds and other institutional investors.

Grab Price Performance

Shares of NASDAQ:GRAB opened at $4.67 on Friday. Grab Holdings Limited has a 52 week low of $2.98 and a 52 week high of $5.72. The company has a 50-day moving average price of $4.80 and a 200 day moving average price of $4.69. The company has a market cap of $18.81 billion, a P/E ratio of 233.62 and a beta of 0.84. The company has a quick ratio of 2.46, a current ratio of 2.49 and a debt-to-equity ratio of 0.04.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their price target on Grab from $5.60 to $5.30 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. CLSA upgraded Grab to a “moderate buy” rating in a research note on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.71.

Grab 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.