Sumitomo Mitsui DS Asset Management Company Ltd Increases Holdings in Grab Holdings Limited (NASDAQ:GRAB)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Grab Holdings Limited (NASDAQ:GRAB) by 35.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 221,973 shares of the company’s stock after purchasing an additional 58,053 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Grab were worth $788,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Dorsey & Whitney Trust CO LLC bought a new stake in shares of Grab during the first quarter valued at about $32,000. Miracle Mile Advisors LLC bought a new stake in Grab during the 1st quarter worth approximately $32,000. Callan Capital LLC purchased a new stake in Grab in the 1st quarter worth approximately $34,000. Lane & Associates LLC bought a new position in Grab in the 1st quarter valued at $39,000. Finally, Sivia Capital Partners LLC purchased a new position in shares of Grab during the 4th quarter valued at $47,000. Institutional investors own 55.52% of the company’s stock.

Grab Stock Up 0.6 %

Shares of NASDAQ GRAB opened at $3.22 on Monday. The stock has a market capitalization of $12.63 billion, a P/E ratio of -46.00 and a beta of 0.81. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.00 and a quick ratio of 2.97. Grab Holdings Limited has a one year low of $2.90 and a one year high of $3.88. The firm’s 50 day simple moving average is $3.37 and its two-hundred day simple moving average is $3.39.

Grab (NASDAQ:GRAB) last issued its earnings results on Thursday, August 15th. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). Grab had a negative net margin of 8.24% and a negative return on equity of 3.35%. The company had revenue of $664.00 million for the quarter, compared to analysts’ expectations of $674.17 million. During the same quarter last year, the company earned ($0.03) EPS. The firm’s revenue was up 17.1% compared to the same quarter last year. As a group, analysts expect that Grab Holdings Limited will post -0.01 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GRAB. Jefferies Financial Group lowered their price objective on Grab from $5.00 to $4.70 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft began coverage on Grab in a report on Friday, May 17th. They set a “buy” rating and a $4.50 price objective for the company. Benchmark restated a “buy” rating and issued a $6.00 price objective on shares of Grab in a research report on Monday, August 19th. Barclays lifted their target price on shares of Grab from $4.30 to $4.70 and gave the company an “overweight” rating in a research report on Wednesday, May 22nd. Finally, Mizuho initiated coverage on shares of Grab in a report on Thursday, June 27th. They issued an “outperform” rating and a $5.00 price target on the stock. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $4.71.

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.