Assetmark Inc. Makes New Investment in Grab Holdings Limited (NASDAQ:GRAB)

Assetmark Inc. acquired a new position in shares of Grab Holdings Limited (NASDAQ:GRAB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 26,213 shares of the company’s stock, valued at approximately $124,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wellington Management Group LLP increased its holdings in shares of Grab by 13.4% in the 3rd quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock valued at $472,394,000 after purchasing an additional 14,671,388 shares during the period. Baillie Gifford & Co. increased its holdings in shares of Grab by 10.0% in the 4th quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company’s stock valued at $221,942,000 after purchasing an additional 4,259,537 shares during the period. Perpetual Ltd acquired a new position in shares of Grab in the 4th quarter valued at about $213,177,000. State Street Corp increased its holdings in shares of Grab by 2.3% in the 3rd quarter. State Street Corp now owns 43,570,388 shares of the company’s stock valued at $165,567,000 after purchasing an additional 967,233 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Grab by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 20,666,618 shares of the company’s stock valued at $77,414,000 after purchasing an additional 591,898 shares during the period. Institutional investors and hedge funds own 55.52% of the company’s stock.

Grab Stock Up 3.3 %

Shares of Grab stock opened at $4.40 on Friday. The stock has a market capitalization of $17.72 billion, a P/E ratio of -220.00, a PEG ratio of 2.26 and a beta of 0.88. The company has a quick ratio of 2.67, a current ratio of 2.70 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average price of $4.67 and a two-hundred day moving average price of $4.42. Grab Holdings Limited has a 12-month low of $2.98 and a 12-month high of $5.72.

Grab (NASDAQ:GRAB) last announced its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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%. Equities analysts expect that Grab Holdings Limited will post 0.05 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. China Renaissance downgraded Grab from a “buy” rating to a “hold” rating and set a $5.40 target price on the stock. in a report on Thursday, November 21st. HSBC upgraded Grab from a “hold” rating to a “buy” rating and dropped their target price for the company from $5.50 to $5.45 in a report on Tuesday, February 4th. Barclays boosted their price target on Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Citigroup reissued a “buy” rating on shares of Grab in a research note on Tuesday, February 4th. Finally, Bank of America raised Grab from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $4.90 to $5.10 in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.62.

Grab Profile

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.