Allianz SE Acquires New Holdings in Grab Holdings Limited (NASDAQ:GRAB)

Allianz SE bought a new stake in Grab Holdings Limited (NASDAQ:GRAB) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 9,360 shares of the company’s stock, valued at approximately $44,000.

A number of other institutional investors have also made changes to their positions in GRAB. Hanwha Asset Management Co. Ltd. purchased a new position in shares of Grab during the 4th quarter worth approximately $227,718,000. Perpetual Ltd acquired a new position in Grab during the fourth quarter worth $213,177,000. Norges Bank purchased a new position in shares of Grab during the fourth quarter worth $145,927,000. Wellington Management Group LLP grew its stake in shares of Grab by 13.4% in the third quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock valued at $472,394,000 after buying an additional 14,671,388 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Grab by 109.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 16,946,914 shares of the company’s stock valued at $79,989,000 after buying an additional 8,868,071 shares during the period. 55.52% of the stock is currently owned by institutional investors and hedge funds.

Grab Stock Down 0.9 %

Grab stock opened at $4.53 on Tuesday. The stock’s fifty day moving average is $4.69 and its two-hundred day moving average is $4.54. The stock has a market cap of $18.24 billion, a PE ratio of -226.50, a P/E/G ratio of 2.26 and a beta of 0.88. Grab Holdings Limited has a 1-year low of $2.98 and a 1-year high of $5.72. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67.

Grab (NASDAQ:GRAB) last posted its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $764.00 million during the quarter, compared to analysts’ expectations of $762.57 million. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. On average, sell-side analysts expect that Grab Holdings Limited will post 0.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GRAB has been the topic of several research reports. Hsbc Global Res raised Grab from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. Barclays lifted their price objective on shares of Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a report on Thursday, February 20th. Bank of America upgraded shares of Grab from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $4.90 to $5.10 in a report on Tuesday, January 7th. HSBC upgraded shares of Grab from a “hold” rating to a “buy” rating and dropped their price target for the stock from $5.50 to $5.45 in a research note on Tuesday, February 4th. Finally, Citigroup reiterated a “buy” rating on shares of Grab in a research note on Tuesday, February 4th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $5.62.

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.