Proficio Capital Partners LLC Takes $45,000 Position in Grab Holdings Limited (NASDAQ:GRAB)

Proficio Capital Partners LLC purchased a new stake in shares of Grab Holdings Limited (NASDAQ:GRAB) during the 1st quarter, HoldingsChannel.com reports. The firm purchased 10,000 shares of the company’s stock, valued at approximately $45,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. HighTower Advisors LLC boosted its stake in Grab by 28.3% in the fourth quarter. HighTower Advisors LLC now owns 40,484 shares of the company’s stock worth $191,000 after buying an additional 8,938 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Grab in the first quarter worth approximately $165,000. NewEdge Advisors LLC boosted its stake in Grab by 426.9% in the fourth quarter. NewEdge Advisors LLC now owns 79,447 shares of the company’s stock worth $375,000 after buying an additional 64,370 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Grab by 669.7% in the first quarter. Janney Montgomery Scott LLC now owns 92,638 shares of the company’s stock worth $420,000 after buying an additional 80,602 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Grab by 98.9% in the first quarter. SG Americas Securities LLC now owns 227,950 shares of the company’s stock worth $1,033,000 after buying an additional 113,373 shares in the last quarter. 55.52% of the stock is currently owned by institutional investors.

Grab Price Performance

Shares of GRAB opened at $5.37 on Thursday. The business’s 50-day moving average is $4.92 and its two-hundred day moving average is $4.70. The company has a market capitalization of $21.62 billion, a P/E ratio of 268.63 and a beta of 0.84. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.46 and a current ratio of 2.49. Grab Holdings Limited has a fifty-two week low of $2.98 and a fifty-two week high of $5.72.

Wall Street Analyst Weigh In

GRAB has been the topic of a number of research analyst reports. CLSA raised shares of Grab to a “moderate buy” rating in a research report on Wednesday, April 9th. JPMorgan Chase & Co. reduced their price objective on shares of Grab from $5.60 to $5.30 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $5.82.

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.