Wells Fargo & Company MN Acquires 205,274 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Wells Fargo & Company MN grew its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 1,032.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 225,155 shares of the company’s stock after acquiring an additional 205,274 shares during the period. Wells Fargo & Company MN’s holdings in Grab were worth $1,063,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Twin Tree Management LP purchased a new position in Grab during the fourth quarter valued at $25,000. Campbell Capital Management Inc. purchased a new position in shares of Grab during the 4th quarter valued at about $30,000. Global Retirement Partners LLC bought a new position in shares of Grab during the 4th quarter valued at approximately $30,000. TD Private Client Wealth LLC increased its holdings in Grab by 7,238.5% in the 4th quarter. TD Private Client Wealth LLC now owns 7,999 shares of the company’s stock worth $38,000 after acquiring an additional 7,890 shares in the last quarter. Finally, Allianz SE purchased a new stake in Grab in the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GRAB. Benchmark reiterated a “buy” rating and issued a $6.00 price target on shares of Grab in a research report on Thursday, February 20th. CLSA raised shares of Grab to a “moderate buy” rating in a report on Wednesday, April 9th. Citigroup reissued a “buy” rating on shares of Grab in a report on Tuesday, February 4th. Barclays upped their price objective on Grab from $5.50 to $6.50 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Finally, HSBC raised Grab from a “hold” rating to a “buy” rating and decreased their target price for the company from $5.50 to $5.45 in a research note on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Grab presently has an average rating of “Moderate Buy” and a consensus target price of $5.60.

Grab Price Performance

Grab stock opened at $4.79 on Wednesday. Grab Holdings Limited has a 52-week low of $2.98 and a 52-week high of $5.72. The company has a market cap of $19.29 billion, a price-to-earnings ratio of -239.50, a PEG ratio of 2.26 and a beta of 0.88. The firm’s fifty day moving average is $4.42 and its 200 day moving average is $4.61. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04.

Grab (NASDAQ:GRAB) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. Grab had a negative net margin of 3.72% and a negative return on equity of 1.63%. The firm had revenue of $764.00 million during the quarter, compared to the consensus estimate of $762.57 million. Sell-side analysts forecast that Grab Holdings Limited will post 0.05 EPS for the current fiscal year.

Grab 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.