Jupiter Asset Management Ltd. Invests $17.61 Million in Grab Holdings Limited (NASDAQ:GRAB)

Jupiter Asset Management Ltd. acquired a new position in shares of Grab Holdings Limited (NASDAQ:GRAB) during the fourth quarter, Holdings Channel.com reports. The fund acquired 3,731,852 shares of the company’s stock, valued at approximately $17,614,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its holdings in Grab by 13.4% during the 3rd quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock worth $472,394,000 after purchasing an additional 14,671,388 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in Grab by 10.0% during the 4th quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company’s stock worth $221,942,000 after purchasing an additional 4,259,537 shares in the last quarter. Perpetual Ltd purchased a new stake in Grab during the 4th quarter worth about $213,177,000. State Street Corp raised its holdings in shares of Grab by 2.3% in the 3rd quarter. State Street Corp now owns 43,570,388 shares of the company’s stock valued at $165,567,000 after acquiring an additional 967,233 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Grab by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 20,666,618 shares of the company’s stock valued at $77,414,000 after acquiring an additional 591,898 shares in the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Wall Street Analysts Forecast Growth

GRAB has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised Grab from a “neutral” rating to an “overweight” rating and set a $5.60 price target on the stock in a report on Friday, February 21st. HSBC raised Grab from a “hold” rating to a “buy” rating and lowered their price target for the company from $5.50 to $5.45 in a report on Tuesday, February 4th. Bank of America raised 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 report on Tuesday, January 7th. Benchmark reaffirmed a “buy” rating and issued a $6.00 target price on shares of Grab in a research note on Thursday, February 20th. Finally, Mizuho lifted their price target on shares of Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Grab currently has an average rating of “Moderate Buy” and a consensus price target of $5.62.

Grab Stock Performance

Shares of NASDAQ:GRAB opened at $4.22 on Thursday. The firm has a 50 day moving average of $4.69 and a 200 day moving average of $4.41. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $16.99 billion, a price-to-earnings ratio of -211.00, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88. Grab Holdings Limited has a 52 week low of $2.98 and a 52 week high of $5.72.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. The firm had revenue of $764.00 million during the quarter, compared to analysts’ expectations of $762.57 million. On average, sell-side analysts predict that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

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.