Quadrature Capital Ltd Increases Stake in Grab Holdings Limited (NASDAQ:GRAB)

Quadrature Capital Ltd raised its stake in Grab Holdings Limited (NASDAQ:GRAB) by 11.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 472,364 shares of the company’s stock after acquiring an additional 48,791 shares during the quarter. Quadrature Capital Ltd’s holdings in Grab were worth $1,594,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of GRAB. Norges Bank purchased a new stake in shares of Grab during the 4th quarter worth about $146,995,000. Artisan Partners Limited Partnership boosted its position in Grab by 11.3% during the fourth quarter. Artisan Partners Limited Partnership now owns 24,894,289 shares of the company’s stock worth $83,894,000 after purchasing an additional 2,523,484 shares in the last quarter. Fullerton Fund Management Co Ltd. boosted its position in Grab by 20.9% during the fourth quarter. Fullerton Fund Management Co Ltd. now owns 17,315,851 shares of the company’s stock worth $58,354,000 after purchasing an additional 2,997,442 shares in the last quarter. Prudential PLC grew its holdings in Grab by 1.9% in the fourth quarter. Prudential PLC now owns 15,176,454 shares of the company’s stock valued at $51,145,000 after purchasing an additional 279,196 shares during the period. Finally, Legal & General Group Plc increased its position in shares of Grab by 7.8% in the third quarter. Legal & General Group Plc now owns 11,541,038 shares of the company’s stock valued at $40,855,000 after buying an additional 835,772 shares in the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Grab Trading Down 1.7 %

GRAB opened at $3.53 on Wednesday. The firm has a market capitalization of $13.85 billion, a price-to-earnings ratio of -50.42 and a beta of 0.82. The company’s 50 day simple moving average is $3.55 and its two-hundred day simple moving average is $3.33. Grab Holdings Limited has a 1-year low of $2.90 and a 1-year high of $3.92. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.26 and a quick ratio of 3.22.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data on Wednesday, May 15th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). The company had revenue of $653.00 million for the quarter, compared to analysts’ expectations of $662.48 million. Grab had a negative return on equity of 4.62% and a negative net margin of 11.86%. Analysts expect that Grab Holdings Limited will post -0.01 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Benchmark reiterated a “buy” rating and set a $6.00 target price on shares of Grab in a research report on Thursday, May 16th. HSBC reissued a “buy” rating and set a $4.30 target price on shares of Grab in a research note on Thursday, April 4th. Barclays lifted their price objective on Grab from $4.30 to $4.70 and gave the stock an “overweight” rating in a report on Wednesday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Grab in a report on Friday, May 17th. They set a “buy” rating and a $4.50 target price for the company. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $5.07.

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.