Rhumbline Advisers Increases Stake in Grab Holdings Limited (NASDAQ:GRAB)

Rhumbline Advisers raised its position in shares of Grab Holdings Limited (NASDAQ:GRAB) by 1.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 545,214 shares of the company’s stock after buying an additional 5,768 shares during the period. Rhumbline Advisers’ holdings in Grab were worth $2,470,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Ellevest Inc. boosted its position in Grab by 3.3% during the 4th quarter. Ellevest Inc. now owns 82,793 shares of the company’s stock valued at $391,000 after buying an additional 2,636 shares during the period. Wedbush Securities Inc. boosted its position in Grab by 19.1% during the 4th quarter. Wedbush Securities Inc. now owns 21,800 shares of the company’s stock valued at $103,000 after buying an additional 3,500 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its position in Grab by 40.6% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 14,710 shares of the company’s stock valued at $69,000 after buying an additional 4,250 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Grab by 1.3% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 351,346 shares of the company’s stock valued at $1,658,000 after buying an additional 4,412 shares during the period. Finally, Vestcor Inc raised its holdings in Grab by 16.6% in the 4th quarter. Vestcor Inc now owns 33,602 shares of the company’s stock worth $159,000 after purchasing an additional 4,776 shares in the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Wall Street Analyst Weigh In

GRAB has been the subject of several research reports. Barclays upped their price objective on shares of Grab from $5.50 to $6.50 and gave the stock an “overweight” rating in a report on Thursday, February 20th. CLSA upgraded shares of Grab to a “moderate buy” rating in a report on Wednesday, April 9th. JPMorgan Chase & Co. decreased their price objective on shares of Grab from $5.60 to $5.30 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Finally, Benchmark restated a “buy” rating and issued a $6.00 price objective on shares of Grab in a report on Thursday, February 20th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Grab currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.71.

Grab Stock Performance

Shares of GRAB stock opened at $4.71 on Tuesday. The company has a 50 day moving average price of $4.71 and a 200-day moving average price of $4.71. Grab Holdings Limited has a 52 week low of $2.98 and a 52 week high of $5.72. The firm has a market capitalization of $18.97 billion, a PE ratio of -235.50, a P/E/G ratio of 2.26 and a beta of 0.84. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04.

About Grab

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.