Meiji Yasuda Asset Management Co Ltd. Purchases 4,250 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 40.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,710 shares of the company’s stock after buying an additional 4,250 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Grab were worth $69,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in GRAB. Charles Schwab Investment Management Inc. raised its stake in shares of Grab by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,429,899 shares of the company’s stock valued at $5,434,000 after acquiring an additional 48,596 shares during the last quarter. Dai ichi Life Insurance Company Ltd raised its position in Grab by 13.8% during the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 123,679 shares of the company’s stock worth $470,000 after purchasing an additional 15,000 shares during the last quarter. Glenmede Trust Co. NA acquired a new position in Grab during the 3rd quarter worth about $53,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Grab in the 3rd quarter valued at about $22,434,000. Finally, Public Sector Pension Investment Board increased its stake in shares of Grab by 24.0% in the third quarter. Public Sector Pension Investment Board now owns 1,095,005 shares of the company’s stock valued at $4,161,000 after buying an additional 211,800 shares during the period. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GRAB shares. Benchmark reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Grab in a research note on Thursday, February 20th. Barclays upped their price objective on shares of Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Bank of America raised shares of Grab from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $4.90 to $5.10 in a research note on Tuesday, January 7th. Hsbc Global Res raised shares of Grab from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Finally, Citigroup reiterated a “buy” rating on shares of Grab in a report on Tuesday, February 4th. Two equities 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $5.62.

Grab Trading Down 4.8 %

Shares of Grab stock opened at $4.57 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. Grab Holdings Limited has a 52 week low of $2.98 and a 52 week high of $5.72. The stock has a 50 day moving average price of $4.68 and a two-hundred day moving average price of $4.51. The stock has a market capitalization of $18.40 billion, a PE ratio of -228.50, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88.

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 business had revenue of $764.00 million during the quarter, compared to analyst estimates of $762.57 million. As a group, equities analysts anticipate that Grab Holdings Limited will post 0.05 earnings per share for the current fiscal year.

Grab Company 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.