OVERSEA CHINESE BANKING Corp Ltd Acquires 4,302,224 Shares of Grab Holdings Limited $GRAB

OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of Grab Holdings Limited (NASDAQ:GRAB) by 66.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 10,770,976 shares of the company’s stock after purchasing an additional 4,302,224 shares during the quarter. Grab accounts for approximately 1.6% of OVERSEA CHINESE BANKING Corp Ltd’s investment portfolio, making the stock its 14th biggest holding. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Grab were worth $64,782,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GRAB. Udine Wealth Management Inc. increased its stake in shares of Grab by 58.2% in the 3rd quarter. Udine Wealth Management Inc. now owns 387,391 shares of the company’s stock valued at $2,332,000 after acquiring an additional 142,546 shares in the last quarter. Nordea Investment Management AB increased its stake in Grab by 15.7% in the third quarter. Nordea Investment Management AB now owns 19,886,007 shares of the company’s stock valued at $120,509,000 after purchasing an additional 2,695,472 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Grab by 6.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,031,582 shares of the company’s stock valued at $30,290,000 after purchasing an additional 294,037 shares during the period. Citizens Financial Group Inc. RI raised its holdings in shares of Grab by 1.3% during the third quarter. Citizens Financial Group Inc. RI now owns 429,878 shares of the company’s stock valued at $2,588,000 after purchasing an additional 5,591 shares during the period. Finally, Trueblood Wealth Management LLC bought a new position in shares of Grab during the 3rd quarter worth about $120,000. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Stock Down 3.3%

Shares of NASDAQ:GRAB opened at $4.63 on Thursday. The business’s 50 day moving average is $5.19 and its 200 day moving average is $5.37. Grab Holdings Limited has a 12-month low of $3.36 and a 12-month high of $6.62. The stock has a market cap of $18.65 billion, a price-to-earnings ratio of 115.78 and a beta of 0.90. The company has a quick ratio of 1.81, a current ratio of 1.83 and a debt-to-equity ratio of 0.05.

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GRAB. Wall Street Zen lowered Grab from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Mizuho set a $7.00 price objective on Grab in a report on Tuesday, November 4th. Benchmark upped their target price on Grab from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Jefferies Financial Group reissued a “buy” rating and issued a $7.00 price target on shares of Grab in a research report on Tuesday, November 4th. Finally, Barclays boosted their price target on shares of Grab from $6.50 to $7.00 and gave the company an “overweight” rating in a research note on Tuesday, November 11th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.