Principal Financial Group Inc. Sells 2,461 Shares of Grab Holdings Limited (NASDAQ:GRAB)

Principal Financial Group Inc. lowered its stake in Grab Holdings Limited (NASDAQ:GRAB) by 1.7% during the 3rd quarter, Holdings Channel reports. The firm owned 142,188 shares of the company’s stock after selling 2,461 shares during the quarter. Principal Financial Group Inc.’s holdings in Grab were worth $540,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GRAB. Allspring Global Investments Holdings LLC increased its holdings in shares of Grab by 18.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company’s stock worth $76,924,000 after purchasing an additional 3,163,309 shares during the last quarter. Cohen Capital Management Inc. purchased a new position in Grab during the 3rd quarter valued at approximately $1,723,000. Toronto Dominion Bank increased its stake in Grab by 43.4% in the 2nd quarter. Toronto Dominion Bank now owns 5,137,591 shares of the company’s stock worth $18,238,000 after acquiring an additional 1,555,579 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in shares of Grab by 17.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 883,205 shares of the company’s stock worth $3,135,000 after acquiring an additional 133,531 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Grab by 30.1% during the 2nd quarter. SG Americas Securities LLC now owns 3,796,898 shares of the company’s stock valued at $13,479,000 after acquiring an additional 878,375 shares during the last quarter. Institutional investors own 55.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Benchmark restated a “buy” rating and issued a $6.00 price target on shares of Grab in a research report on Tuesday, November 12th. China Renaissance downgraded shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 target price on the stock. in a report on Thursday. Barclays increased their price target on shares of Grab from $4.70 to $5.50 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Evercore ISI upped their price objective on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. raised their price objective on Grab from $5.00 to $5.70 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.42.

Grab Trading Down 10.6 %

Shares of NASDAQ GRAB opened at $5.07 on Monday. Grab Holdings Limited has a fifty-two week low of $2.90 and a fifty-two week high of $5.72. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. The company has a market cap of $20.42 billion, a price-to-earnings ratio of -253.50 and a beta of 0.81. The business’s 50 day moving average price is $4.09 and its 200-day moving average price is $3.68.

Grab (NASDAQ:GRAB) last released its earnings results on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. The business had revenue of $716.00 million for the quarter, compared to analyst estimates of $705.40 million. During the same quarter last year, the firm posted ($0.02) earnings per share. On average, sell-side analysts expect that Grab Holdings Limited will post -0.03 earnings per share for the current year.

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.