Assenagon Asset Management S.A. Purchases 22,038,961 Shares of Grab Holdings Limited $GRAB

Assenagon Asset Management S.A. increased its position in shares of Grab Holdings Limited (NASDAQ:GRAB) by 173.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,753,836 shares of the company’s stock after acquiring an additional 22,038,961 shares during the quarter. Assenagon Asset Management S.A. owned about 0.86% of Grab worth $173,422,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GRAB. Integrated Wealth Concepts LLC raised its holdings in Grab by 201.2% during the 1st quarter. Integrated Wealth Concepts LLC now owns 35,386 shares of the company’s stock worth $160,000 after purchasing an additional 23,639 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Grab by 6.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,231,195 shares of the company’s stock valued at $41,817,000 after purchasing an additional 529,433 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Grab by 6.2% in the 1st quarter. Empowered Funds LLC now owns 52,698 shares of the company’s stock valued at $239,000 after purchasing an additional 3,090 shares during the last quarter. Focus Partners Wealth acquired a new stake in shares of Grab during the 1st quarter worth approximately $63,000. Finally, ProShare Advisors LLC raised its stake in shares of Grab by 67.4% during the second quarter. ProShare Advisors LLC now owns 25,816 shares of the company’s stock worth $130,000 after buying an additional 10,395 shares during the last quarter. Institutional investors own 55.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GRAB. Benchmark restated a “buy” rating on shares of Grab in a report on Thursday, February 12th. HSBC raised shares of Grab from a “hold” rating to a “buy” rating and set a $6.20 target price for the company in a report on Friday, January 16th. Wall Street Zen raised Grab from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Sanford C. Bernstein restated an “outperform” rating and issued a $5.80 price target on shares of Grab in a research report on Monday, January 26th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Grab in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $6.47.

Grab Stock Up 2.2%

Shares of NASDAQ:GRAB opened at $3.64 on Tuesday. The company has a 50 day moving average price of $4.20 and a two-hundred day moving average price of $5.08. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.73 and a current ratio of 1.75. The company has a market capitalization of $14.92 billion, a PE ratio of 121.37, a PEG ratio of 0.80 and a beta of 0.93. Grab Holdings Limited has a 52 week low of $3.36 and a 52 week high of $6.62.

Grab (NASDAQ:GRAB) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.04 earnings per share 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 forecast that Grab Holdings Limited will post 0.05 earnings per share for the current year.

Grab Company Profile

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.