Grab Holdings Limited $GRAB Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB grew its position in Grab Holdings Limited (NASDAQ:GRAB) by 15.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,886,007 shares of the company’s stock after purchasing an additional 2,695,472 shares during the quarter. Nordea Investment Management AB owned about 0.49% of Grab worth $120,509,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. AlphaCore Capital LLC purchased a new position in Grab during the 2nd quarter worth $33,000. Caitong International Asset Management Co. Ltd raised its stake in Grab by 51.2% in the second quarter. Caitong International Asset Management Co. Ltd now owns 7,780 shares of the company’s stock valued at $39,000 after buying an additional 2,634 shares during the last quarter. Prospera Financial Services Inc acquired a new stake in Grab in the second quarter worth about $50,000. Savant Capital LLC purchased a new stake in shares of Grab during the second quarter worth about $51,000. Finally, Orion Porfolio Solutions LLC acquired a new position in shares of Grab during the second quarter valued at about $54,000. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Wall Street Analysts Forecast Growth

GRAB has been the subject of a number of recent analyst reports. Barclays lifted their target price on shares of Grab from $6.50 to $7.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 11th. HSBC reaffirmed a “hold” rating and issued a $6.20 price target on shares of Grab in a report on Wednesday, September 17th. Jefferies Financial Group reissued a “buy” rating and set a $7.00 price objective on shares of Grab in a report on Tuesday, November 4th. Weiss Ratings restated a “hold (c-)” rating on shares of Grab in a research note on Wednesday, October 8th. Finally, Wall Street Zen downgraded Grab from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Grab has an average rating of “Moderate Buy” and an average price target of $6.58.

Grab Stock Down 2.0%

NASDAQ:GRAB opened at $4.79 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.83 and a quick ratio of 1.81. The company’s fifty day moving average price is $5.21 and its 200-day moving average price is $5.38. Grab Holdings Limited has a 1-year low of $3.36 and a 1-year high of $6.62. The firm has a market capitalization of $19.29 billion, a P/E ratio of 119.78 and a beta of 0.90.

Grab (NASDAQ:GRAB) last posted its earnings results on Tuesday, November 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). Grab had a net margin of 3.81% and a return on equity of 1.91%. The business had revenue of $873.00 million for the quarter, compared to analyst estimates of $870.44 million. As a group, equities research analysts anticipate that Grab Holdings Limited will post 0.05 EPS for the current year.

About Grab

Grab Holdings Inc is a Singapore-based technology company that operates a consumer-facing “super app” across Southeast Asia offering services spanning ride-hailing, food and package delivery, and digital payments. Its platform connects consumers, drivers, merchants and delivery partners through mobile applications and supports on-demand mobility (taxi and private car), last-mile logistics, and on-demand food delivery under brands such as GrabFood and GrabExpress. The company has also developed a merchant-facing ecosystem that supports ordering, payment acceptance and loyalty functions.

Beyond transportation and delivery, Grab has expanded into financial services through Grab Financial Group, which provides digital payments via GrabPay, consumer lending, insurance distribution and small-business financial solutions.