OVERSEA CHINESE BANKING Corp Ltd Raises Stock Holdings in Grab Holdings Limited (NASDAQ:GRAB)

OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 76.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,318,393 shares of the company’s stock after purchasing an additional 5,755,060 shares during the period. OVERSEA CHINESE BANKING Corp Ltd owned about 0.33% of Grab worth $60,332,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GRAB. Charles Schwab Investment Management Inc. boosted its holdings in Grab by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,461,129 shares of the company’s stock valued at $6,897,000 after purchasing an additional 31,230 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Grab during the fourth quarter valued at approximately $1,165,000. Amundi raised its stake in Grab by 12.5% during the fourth quarter. Amundi now owns 1,655,852 shares of the company’s stock valued at $7,667,000 after buying an additional 184,208 shares in the last quarter. HighTower Advisors LLC raised its stake in Grab by 28.3% during the fourth quarter. HighTower Advisors LLC now owns 40,484 shares of the company’s stock valued at $191,000 after buying an additional 8,938 shares in the last quarter. Finally, Avantax Advisory Services Inc. acquired a new stake in Grab during the fourth quarter valued at approximately $125,000. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Grab Stock Up 1.6%

GRAB opened at $5.00 on Monday. 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. The stock has a market cap of $20.14 billion, a P/E ratio of 250.13 and a beta of 0.84. The stock’s 50 day moving average price is $4.88 and its 200 day moving average price is $4.67.

Analyst Ratings Changes

Several analysts have issued reports on GRAB shares. JPMorgan Chase & Co. cut their price objective on Grab from $5.60 to $5.30 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. CLSA upgraded Grab to a “moderate buy” rating in a research note on Wednesday, April 9th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $5.71.

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.