Dai ichi Life Insurance Company Ltd Buys 15,000 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Dai ichi Life Insurance Company Ltd grew its position in shares of Grab Holdings Limited (NASDAQ:GRAB) by 13.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,679 shares of the company’s stock after purchasing an additional 15,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Grab were worth $470,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Citigroup Inc. grew its holdings in Grab by 83.6% during the 3rd quarter. Citigroup Inc. now owns 14,277,673 shares of the company’s stock valued at $54,255,000 after buying an additional 6,503,051 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Grab by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,429,899 shares of the company’s stock valued at $5,434,000 after acquiring an additional 48,596 shares during the last quarter. Thompson Siegel & Walmsley LLC purchased a new position in shares of Grab in the third quarter valued at $1,986,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Grab in the third quarter worth $2,757,000. Finally, Swiss National Bank raised its stake in Grab by 0.9% during the third quarter. Swiss National Bank now owns 6,274,800 shares of the company’s stock valued at $23,844,000 after purchasing an additional 55,100 shares in the last quarter. 55.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on GRAB shares. Mizuho lifted their price objective on shares of Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Bank of America cut Grab from a “buy” rating to an “underperform” rating and set a $4.90 price objective on the stock. in a research note on Friday, November 22nd. Barclays raised their price objective on Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Evercore ISI boosted their target price on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Finally, China Renaissance downgraded Grab from a “buy” rating to a “hold” rating and set a $5.40 price target for the company. in a research report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $5.42.

Grab Trading Up 0.6 %

GRAB stock opened at $5.18 on Friday. The company has a market capitalization of $20.86 billion, a PE ratio of -259.00 and a beta of 0.81. 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 Holdings Limited has a 12 month low of $2.90 and a 12 month high of $5.72. The firm’s 50-day moving average is $4.19 and its 200 day moving average is $3.71.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. The firm had revenue of $716.00 million during the quarter, compared to the consensus estimate of $705.40 million. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. On average, research analysts anticipate that Grab Holdings Limited will post -0.03 EPS for the current year.

Grab Company 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.