DNB Asset Management AS Purchases 703,281 Shares of Grab Holdings Limited $GRAB

DNB Asset Management AS increased its position in Grab Holdings Limited (NASDAQ:GRAB) by 57.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,935,232 shares of the company’s stock after buying an additional 703,281 shares during the quarter. DNB Asset Management AS’s holdings in Grab were worth $11,650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the business. Invesco Ltd. increased its position in Grab by 11.8% in the 2nd 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. JPMorgan Chase & Co. increased its holdings in Grab by 20.8% in the second quarter. JPMorgan Chase & Co. now owns 60,455,589 shares of the company’s stock valued at $304,092,000 after purchasing an additional 10,428,014 shares during the period. State Street Corp raised its position in Grab by 1.8% during the 2nd quarter. State Street Corp now owns 43,322,397 shares of the company’s stock worth $217,912,000 after purchasing an additional 759,696 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in Grab by 13.4% during the 2nd quarter. Artisan Partners Limited Partnership now owns 39,845,418 shares of the company’s stock worth $200,422,000 after buying an additional 4,710,420 shares during the period. Finally, Norges Bank acquired a new position in Grab during the 2nd quarter worth about $175,192,000. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Grab Trading Down 2.1%

NASDAQ:GRAB opened at $4.22 on Friday. Grab Holdings Limited has a 12 month low of $3.36 and a 12 month high of $6.62. The company has a current ratio of 1.75, a quick ratio of 1.73 and a debt-to-equity ratio of 0.06. The stock has a market capitalization 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 firm has a fifty day simple moving average of $4.59 and a two-hundred day simple moving average of $5.21.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on GRAB shares. Benchmark restated a “buy” rating on shares of Grab in a research report on Thursday, February 12th. Sanford C. Bernstein restated an “outperform” rating and set a $5.80 price target on shares of Grab in a report on Monday, January 26th. HSBC raised shares of Grab from a “hold” rating to a “buy” rating and set a $6.20 price objective on the stock in a research note on Friday, January 16th. Weiss Ratings reissued a “hold (c-)” rating on shares of Grab in a research note on Thursday, January 22nd. Finally, Barclays boosted their target price on shares of Grab from $6.50 to $7.00 and gave the company an “overweight” rating in a report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $6.47.

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.