KLP Kapitalforvaltning AS Acquires 157,600 Shares of Grab Holdings Limited $GRAB

KLP Kapitalforvaltning AS lifted its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 19.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 985,200 shares of the company’s stock after purchasing an additional 157,600 shares during the period. KLP Kapitalforvaltning AS’s holdings in Grab were worth $5,931,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of GRAB. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Grab by 18.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,261,794 shares of the company’s stock worth $78,196,000 after purchasing an additional 2,679,277 shares during the last quarter. Nordea Investment Management AB boosted its position in Grab by 2.6% in the 2nd quarter. Nordea Investment Management AB now owns 17,190,535 shares of the company’s stock valued at $87,586,000 after buying an additional 437,197 shares during the period. Stanley Laman Group Ltd. bought a new position in Grab in the 3rd quarter worth about $1,204,000. Exchange Traded Concepts LLC increased its position in shares of Grab by 559.1% during the second quarter. Exchange Traded Concepts LLC now owns 1,773,947 shares of the company’s stock worth $8,923,000 after acquiring an additional 1,504,799 shares during the period. Finally, Voya Investment Management LLC raised its stake in shares of Grab by 354.4% during the first quarter. Voya Investment Management LLC now owns 1,889,769 shares of the company’s stock valued at $8,561,000 after acquiring an additional 1,473,925 shares in the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Grab Trading Down 0.6%

Shares of NASDAQ GRAB opened at $4.85 on Friday. Grab Holdings Limited has a 1-year low of $3.36 and a 1-year high of $6.62. The business has a fifty day moving average price of $5.25 and a 200 day moving average price of $5.37. The stock has a market capitalization of $19.53 billion, a P/E ratio of 121.28 and a beta of 0.90. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.83 and a quick ratio of 1.81.

Grab (NASDAQ:GRAB) last posted its earnings results on Tuesday, November 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.02). The company had revenue of $873.00 million during the quarter, compared to analysts’ expectations of $870.44 million. Grab had a net margin of 3.81% and a return on equity of 1.91%. Equities research analysts expect that Grab Holdings Limited will post 0.05 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Jefferies Financial Group reissued a “buy” rating and issued a $7.00 price objective on shares of Grab in a research note on Tuesday, November 4th. HSBC reissued a “hold” rating and set a $6.20 price target on shares of Grab in a research report on Wednesday, September 17th. Wall Street Zen downgraded Grab from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Barclays increased their target price on shares of Grab from $6.50 to $7.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th. Finally, Mizuho set a $7.00 price target on shares of Grab in a report on Tuesday, November 4th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Grab presently has an average rating of “Moderate Buy” and an average target price of $6.58.

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.