Grab Holdings Limited $GRAB Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB grew its stake in Grab Holdings Limited (NASDAQ:GRAB) by 15.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,886,007 shares of the company’s stock after purchasing an additional 2,695,472 shares during the period. Nordea Investment Management AB’s holdings in Grab were worth $120,509,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. lifted its stake in shares of Grab by 11.8% in the 2nd quarter. Invesco Ltd. now owns 63,881,785 shares of the company’s stock valued at $321,325,000 after purchasing an additional 6,767,182 shares during the period. JPMorgan Chase & Co. increased its holdings in Grab by 20.8% in the second quarter. JPMorgan Chase & Co. now owns 60,455,589 shares of the company’s stock valued at $304,092,000 after buying an additional 10,428,014 shares in the last quarter. State Street Corp increased its holdings in Grab by 1.8% in the second quarter. State Street Corp now owns 43,322,397 shares of the company’s stock valued at $217,912,000 after buying an additional 759,696 shares in the last quarter. Artisan Partners Limited Partnership raised its position in shares of Grab by 13.4% in the second quarter. Artisan Partners Limited Partnership now owns 39,845,418 shares of the company’s stock worth $200,422,000 after acquiring an additional 4,710,420 shares during the period. Finally, Norges Bank purchased a new stake in shares of Grab during the 2nd quarter worth about $175,192,000. 55.52% of the stock is owned by hedge funds and other institutional investors.

Grab Trading Down 2.0%

Shares of Grab stock opened at $4.79 on Wednesday. The company has a current ratio of 1.83, a quick ratio of 1.81 and a debt-to-equity ratio of 0.05. Grab Holdings Limited has a twelve month low of $3.36 and a twelve month high of $6.62. The firm has a market capitalization of $19.29 billion, a PE ratio of 119.78 and a beta of 0.90. The firm’s 50-day moving average price is $5.21 and its 200 day moving average price is $5.38.

Grab (NASDAQ:GRAB) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.02). The firm had revenue of $873.00 million for the quarter, compared to analysts’ expectations of $870.44 million. Grab had a return on equity of 1.91% and a net margin of 3.81%. On average, sell-side analysts predict that Grab Holdings Limited will post 0.05 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Grab in a research report on Wednesday, October 8th. Wall Street Zen downgraded Grab from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Hsbc Global Res lowered Grab from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Benchmark upped their target price on Grab from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Finally, HSBC reiterated a “hold” rating and set a $6.20 target price on shares of Grab in a research report on Wednesday, September 17th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Grab has an average rating of “Moderate Buy” and a consensus target price of $6.58.

Grab 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.