Prudential Financial Inc. Raises Stock Holdings in Grab Holdings Limited (NASDAQ:GRAB)

Prudential Financial Inc. raised its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 10.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,470 shares of the company’s stock after buying an additional 10,224 shares during the quarter. Prudential Financial Inc.’s holdings in Grab were worth $512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Twin Tree Management LP bought a new stake in shares of Grab in the 4th quarter worth about $25,000. Campbell Capital Management Inc. bought a new position in Grab in the fourth quarter worth about $30,000. Global Retirement Partners LLC purchased a new position in Grab during the 4th quarter worth $30,000. TD Private Client Wealth LLC grew its stake in Grab by 7,238.5% during the 4th quarter. TD Private Client Wealth LLC now owns 7,999 shares of the company’s stock valued at $38,000 after purchasing an additional 7,890 shares during the last quarter. Finally, New York Life Investment Management LLC acquired a new stake in shares of Grab in the fourth quarter worth $48,000. 55.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Citigroup reaffirmed a “buy” rating on shares of Grab in a research note on Tuesday, February 4th. HSBC upgraded shares of Grab from a “hold” rating to a “buy” rating and dropped their price objective for the company from $5.50 to $5.45 in a report on Tuesday, February 4th. Hsbc Global Res raised shares of Grab from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Barclays increased their price objective on Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a report on Thursday, February 20th. Finally, Bank of America upgraded shares of Grab from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $4.90 to $5.10 in a research report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $5.62.

Grab Stock Performance

Shares of GRAB opened at $4.26 on Thursday. The company’s fifty day moving average price is $4.59 and its 200 day moving average price is $4.55. Grab Holdings Limited has a one year low of $2.98 and a one year high of $5.72. The company has a market capitalization of $17.16 billion, a PE ratio of -213.00, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $764.00 million during the quarter, compared to analyst estimates of $762.57 million. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. As a group, analysts expect that Grab Holdings Limited will post 0.05 earnings per share for the current year.

Grab Company Profile

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.