Grab Holdings Limited $GRAB Shares Acquired by Allianz Asset Management GmbH

Allianz Asset Management GmbH boosted its position in Grab Holdings Limited (NASDAQ:GRAB) by 83.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 967,530 shares of the company’s stock after purchasing an additional 439,748 shares during the period. Allianz Asset Management GmbH’s holdings in Grab were worth $5,825,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of GRAB. Integrated Wealth Concepts LLC raised its position in Grab by 201.2% in the first quarter. Integrated Wealth Concepts LLC now owns 35,386 shares of the company’s stock worth $160,000 after acquiring an additional 23,639 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Grab by 6.1% during the first quarter. Goldman Sachs Group Inc. now owns 9,231,195 shares of the company’s stock valued at $41,817,000 after purchasing an additional 529,433 shares during the last quarter. Empowered Funds LLC lifted its stake in Grab by 6.2% during the first quarter. Empowered Funds LLC now owns 52,698 shares of the company’s stock valued at $239,000 after purchasing an additional 3,090 shares during the last quarter. Focus Partners Wealth bought a new stake in Grab during the first quarter worth approximately $63,000. Finally, Janney Montgomery Scott LLC grew its position in Grab by 50.5% in the second quarter. Janney Montgomery Scott LLC now owns 139,421 shares of the company’s stock worth $701,000 after buying an additional 46,783 shares during the last quarter. Institutional investors own 55.52% of the company’s stock.

Grab Stock Performance

GRAB stock opened at $4.31 on Wednesday. The firm has a 50 day simple moving average of $4.81 and a 200 day simple moving average of $5.28. Grab Holdings Limited has a 52 week low of $3.36 and a 52 week high of $6.62. The stock has a market cap of $17.36 billion, a P/E ratio of 107.78 and a beta of 0.92. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.81 and a current ratio of 1.83.

Analyst Ratings Changes

A number of brokerages have recently commented on GRAB. Jefferies Financial Group reiterated a “buy” rating and set a $7.00 price objective on shares of Grab in a research report on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Grab in a research report on Thursday, January 22nd. Wall Street Zen upgraded Grab from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Barclays boosted their price objective on Grab from $6.50 to $7.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th. Finally, Mizuho set a $7.00 target price on shares of Grab in a report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Grab has a consensus rating of “Buy” and a consensus target price of $6.47.

Grab Company 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.