535,902,982 Shares in Grab Holdings Limited (NASDAQ:GRAB) Bought by Uber Technologies Inc

Uber Technologies Inc purchased a new position in shares of Grab Holdings Limited (NASDAQ:GRAB) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 535,902,982 shares of the company’s stock, valued at approximately $2,529,462,000. Grab makes up approximately 52.0% of Uber Technologies Inc’s portfolio, making the stock its biggest position. Uber Technologies Inc owned about 0.13% of Grab as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in GRAB. Hanwha Asset Management Co. Ltd. bought a new position in shares of Grab in the fourth quarter valued at approximately $227,718,000. Baillie Gifford & Co. grew its holdings in Grab by 10.0% in the 4th quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company’s stock valued at $221,942,000 after buying an additional 4,259,537 shares during the last quarter. Perpetual Ltd acquired a new position in shares of Grab during the fourth quarter worth approximately $213,177,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Grab by 5,066.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 33,914,101 shares of the company’s stock worth $160,075,000 after acquiring an additional 33,257,610 shares during the last quarter. Finally, Norges Bank acquired a new position in Grab during the 4th quarter valued at $145,927,000. 55.52% of the stock is owned by institutional investors.

Grab Price Performance

NASDAQ:GRAB opened at $4.79 on Wednesday. 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 firm has a market cap of $19.29 billion, a PE ratio of -239.50, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88. Grab Holdings Limited has a 12 month low of $2.98 and a 12 month high of $5.72. The company’s 50-day moving average price is $4.42 and its two-hundred day moving average price is $4.61.

Grab (NASDAQ:GRAB) last announced its earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. The business had revenue of $764.00 million for the quarter, compared to the consensus estimate of $762.57 million. On average, equities analysts anticipate that Grab Holdings Limited will post 0.05 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Grab from $5.60 to $5.30 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. HSBC upgraded 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 research note on Tuesday, February 4th. Benchmark reissued a “buy” rating and set a $6.00 price objective on shares of Grab in a report on Thursday, February 20th. Barclays upped their target price on Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, CLSA upgraded shares of Grab to a “moderate buy” rating in a research note on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Grab presently has an average rating of “Moderate Buy” and a consensus target price of $5.60.

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.