Rakuten Investment Management Inc. bought a new stake in shares of Grab Holdings Limited (NASDAQ:GRAB – Free Report) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 157,000 shares of the company’s stock, valued at approximately $490,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Resona Asset Management Co. Ltd. raised its holdings in Grab by 0.4% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 721,569 shares of the company’s stock valued at $2,628,000 after buying an additional 2,858 shares during the period. KBC Group NV boosted its stake in Grab by 0.4% during the first quarter. KBC Group NV now owns 1,096,393 shares of the company’s stock worth $4,012,000 after buying an additional 4,170 shares during the period. Keybank National Association OH boosted its stake in Grab by 34.7% during the first quarter. Keybank National Association OH now owns 16,677 shares of the company’s stock worth $61,000 after buying an additional 4,295 shares during the period. HB Wealth Management LLC boosted its stake in Grab by 11.7% during the first quarter. HB Wealth Management LLC now owns 48,140 shares of the company’s stock worth $176,000 after buying an additional 5,059 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Grab by 35.4% during the first quarter. EverSource Wealth Advisors LLC now owns 20,715 shares of the company’s stock valued at $76,000 after acquiring an additional 5,415 shares during the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts recently commented on GRAB shares. KeyCorp set a $7.00 price target on shares of Grab in a report on Wednesday, September 16th. Weiss Ratings raised shares of Grab from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, November 3rd. JPMorgan Chase & Co. raised their price objective on shares of Grab from $4.80 to $5.10 and gave the stock an “overweight” rating in a research note on Tuesday, November 3rd. Barclays dropped their target price on Grab from $5.00 to $4.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. Finally, Benchmark restated a “buy” rating on shares of Grab in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.67.
Check Out Our Latest Stock Analysis on Grab
Grab Stock Performance
Shares of Grab stock opened at $3.41 on Monday. The stock’s fifty day moving average is $3.07 and its two-hundred day moving average is $3.61. The company has a market capitalization of $13.97 billion, a PE ratio of 68.21, a price-to-earnings-growth ratio of 0.72 and a beta of 0.83. The company has a quick ratio of 1.37, a current ratio of 1.38 and a debt-to-equity ratio of 0.06. Grab Holdings Limited has a 52 week low of $2.67 and a 52 week high of $6.24.
Insider Buying and Selling at Grab
In related news, CEO Ping Tan purchased 10,350,000 shares of the business’s stock in a transaction dated Monday, September 21st. The shares were purchased at an average cost of $2.89 per share, for a total transaction of $29,911,500.00. Following the completion of the acquisition, the chief executive officer owned 10,778,498 shares in the company, valued at approximately $31,149,859.22. This trade represents a 2,415.41% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Alexander Hungate purchased 299,571 shares of Grab stock in a transaction that occurred on Monday, September 21st. The stock was bought at an average cost of $2.89 per share, for a total transaction of $865,760.19. Following the purchase, the chief operating officer directly owned 6,411,550 shares in the company, valued at $18,529,379.50. This trade represents a 4.90% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders sold 499,349 shares of company stock valued at $1,641,155. 3.60% of the stock is owned by company insiders.
Grab Profile
Grab Holdings Limited operates a digital platform that connects consumers, driver- and merchant-partners across Southeast Asia. Its services include ride-hailing and other mobility options, food and grocery delivery, and parcel delivery, offered through the Grab app.
The company also provides digital financial services, including payments and lending, and works with partners on products such as insurance and digital banking. Its offerings and availability vary by market.
Grab began in Malaysia in 2012 as MyTeksi, a taxi-booking service founded by Anthony Tan and Tan Hooi Ling, and later expanded across the region.
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