Intech Investment Management LLC Makes New Investment in Grab Holdings Limited $GRAB

Intech Investment Management LLC bought a new stake in Grab Holdings Limited (NASDAQ:GRAB) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 797,443 shares of the company’s stock, valued at approximately $4,801,000.

Other large investors also recently made changes to their positions in the company. Norges Bank bought a new stake in Grab in the 2nd quarter valued at $175,192,000. Citigroup Inc. increased its position in Grab by 112.6% during the 3rd quarter. Citigroup Inc. now owns 32,398,782 shares of the company’s stock worth $195,041,000 after buying an additional 17,160,661 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Grab by 20.8% during the second quarter. JPMorgan Chase & Co. now owns 60,455,589 shares of the company’s stock worth $304,092,000 after buying an additional 10,428,014 shares in the last quarter. Invesco Ltd. boosted its position in shares of Grab by 11.8% in the second quarter. Invesco Ltd. now owns 63,881,785 shares of the company’s stock valued at $321,325,000 after acquiring an additional 6,767,182 shares during the period. Finally, HRT Financial LP grew its stake in shares of Grab by 533.2% in the second quarter. HRT Financial LP now owns 7,493,486 shares of the company’s stock valued at $37,692,000 after acquiring an additional 6,310,006 shares in the last quarter. Institutional investors own 55.52% of the company’s stock.

Grab Trading Down 2.1%

Shares of GRAB opened at $4.22 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.73 and a current ratio of 1.75. Grab Holdings Limited has a 52-week low of $3.36 and a 52-week high of $6.62. The firm has a market cap of $16.99 billion, a price-to-earnings ratio of 140.71, a PEG ratio of 0.95 and a beta of 0.92. The business’s fifty day moving average is $4.59 and its 200-day moving average is $5.21.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Wednesday, February 11th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.03. Grab had a return on equity of 4.09% and a net margin of 7.92%.The business had revenue of $906.00 million for the quarter, compared to analyst estimates of $942.08 million. Equities analysts anticipate that Grab Holdings Limited will post 0.05 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on GRAB shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Grab in a research report on Thursday, January 22nd. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $5.80 target price on shares of Grab in a report on Monday, January 26th. Barclays lifted their price target on shares of Grab from $6.50 to $7.00 and gave the company an “overweight” rating in a research report on Tuesday, November 11th. HSBC upgraded Grab from a “hold” rating to a “buy” rating and set a $6.20 price target for the company in a research note on Friday, January 16th. Finally, Wall Street Zen upgraded Grab from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $6.47.

Grab Company Profile

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.