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, HoldingsChannel.com reports. The fund 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 quarter.

A number of other hedge funds have also added to or reduced their stakes in GRAB. Blue Trust Inc. lifted its holdings in Grab by 53.6% in the third quarter. Blue Trust Inc. now owns 9,767 shares of the company’s stock worth $35,000 after buying an additional 3,408 shares during the period. Traynor Capital Management Inc. bought a new position in Grab in the third quarter worth $41,000. Dorsey & Whitney Trust CO LLC lifted its position in Grab by 37.0% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock valued at $50,000 after buying an additional 3,795 shares during the period. Glenmede Trust Co. NA bought a new position in shares of Grab during the third quarter valued at approximately $53,000. Finally, Wedbush Securities Inc. purchased a new position in shares of Grab in the 2nd quarter worth about $65,000. 55.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on GRAB. Bank of America downgraded shares of Grab from a “buy” rating to an “underperform” rating and set a $4.90 price objective on the stock. in a research report on Friday, November 22nd. China Renaissance cut Grab from a “buy” rating to a “hold” rating and set a $5.40 price target on the stock. in a report on Thursday, November 21st. Barclays boosted their price target on shares of Grab from $4.70 to $5.50 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price target on shares of Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Finally, Hsbc Global Res downgraded shares of Grab from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $5.53.

Grab Stock Up 1.5 %

GRAB stock opened at $4.81 on Monday. The stock has a market capitalization of $19.37 billion, a PE ratio of -240.50 and a beta of 0.90. Grab Holdings Limited has a 52 week low of $2.90 and a 52 week high of $5.72. 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 firm has a 50 day moving average of $4.87 and a 200 day moving average of $3.98.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.01 EPS for the quarter. The business had revenue of $716.00 million during the quarter, compared to analysts’ expectations of $705.40 million. Grab had a negative net margin of 3.57% and a negative return on equity of 1.50%. During the same period in the previous year, the business posted ($0.02) EPS. Sell-side analysts forecast 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.