Bank of New York Mellon Corp Grows Position in Grab Holdings Limited (NASDAQ:GRAB)

Bank of New York Mellon Corp grew its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 10.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,004,362 shares of the company’s stock after buying an additional 384,917 shares during the period. Bank of New York Mellon Corp owned 0.10% of Grab worth $18,140,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. HighTower Advisors LLC increased its position in Grab by 28.3% during the fourth quarter. HighTower Advisors LLC now owns 40,484 shares of the company’s stock worth $191,000 after buying an additional 8,938 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Grab during the first quarter worth $165,000. NewEdge Advisors LLC increased its position in Grab by 426.9% during the fourth quarter. NewEdge Advisors LLC now owns 79,447 shares of the company’s stock worth $375,000 after buying an additional 64,370 shares in the last quarter. SG Americas Securities LLC increased its position in Grab by 98.9% during the first quarter. SG Americas Securities LLC now owns 227,950 shares of the company’s stock worth $1,033,000 after buying an additional 113,373 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in shares of Grab by 669.7% in the first quarter. Janney Montgomery Scott LLC now owns 92,638 shares of the company’s stock valued at $420,000 after purchasing an additional 80,602 shares during the period. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on GRAB. JPMorgan Chase & Co. lowered their price objective on Grab from $5.60 to $5.30 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. CLSA raised Grab to a “moderate buy” rating in a research report on Wednesday, April 9th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Grab presently has a consensus rating of “Moderate Buy” and an average target price of $5.82.

Grab Trading Up 1.7%

Shares of GRAB opened at $5.34 on Friday. The stock’s 50-day moving average is $4.91 and its two-hundred day moving average is $4.69. The stock has a market cap of $21.50 billion, a PE ratio of 267.13 and a beta of 0.84. Grab Holdings Limited has a 12 month low of $2.98 and a 12 month high of $5.72. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.49 and a quick ratio of 2.46.

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.