Allspring Global Investments Holdings LLC Acquires Shares of 16,853,398 Grab Holdings Limited (NASDAQ:GRAB)

Allspring Global Investments Holdings LLC bought a new position in shares of Grab Holdings Limited (NASDAQ:GRAB) during the first quarter, according to its most recent filing with the SEC. The fund bought 16,853,398 shares of the company’s stock, valued at approximately $52,920,000. Allspring Global Investments Holdings LLC owned 0.43% of Grab at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in Grab by 7.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,159,898 shares of the company’s stock valued at $4,106,000 after acquiring an additional 83,740 shares during the last quarter. Rhumbline Advisers lifted its stake in Grab by 23.7% in the third quarter. Rhumbline Advisers now owns 685,978 shares of the company’s stock valued at $2,428,000 after purchasing an additional 131,513 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Grab by 9.5% during the third quarter. PNC Financial Services Group Inc. now owns 41,774 shares of the company’s stock valued at $148,000 after purchasing an additional 3,632 shares during the period. FMR LLC increased its position in Grab by 2,898.6% in the third quarter. FMR LLC now owns 4,581,183 shares of the company’s stock worth $16,217,000 after buying an additional 4,428,407 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Grab by 0.4% in the third quarter. Northern Trust Corp now owns 7,490,420 shares of the company’s stock valued at $26,516,000 after buying an additional 26,577 shares during the period. 55.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Benchmark reissued a “buy” rating and issued a $6.00 price objective on shares of Grab in a report on Thursday, May 16th. Mizuho began coverage on shares of Grab in a research note on Thursday, June 27th. They issued an “outperform” rating and a $5.00 target price for the company. Barclays upped their price target on shares of Grab from $4.30 to $4.70 and gave the company an “overweight” rating in a research note on Wednesday, May 22nd. HSBC reiterated a “buy” rating and issued a $4.30 price objective on shares of Grab in a research note on Thursday, April 4th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Grab in a research report on Friday, May 17th. They set a “buy” rating and a $4.50 target price on the stock. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $5.06.

Grab Price Performance

Grab stock opened at $3.50 on Wednesday. The stock has a market cap of $13.73 billion, a price-to-earnings ratio of -49.99 and a beta of 0.81. The company has a quick ratio of 3.22, a current ratio of 3.26 and a debt-to-equity ratio of 0.03. The business has a 50-day simple moving average of $3.59 and a 200 day simple moving average of $3.36. Grab Holdings Limited has a 52 week low of $2.90 and a 52 week high of $3.92.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data on Wednesday, May 15th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.02). Grab had a negative return on equity of 4.62% and a negative net margin of 11.86%. The business had revenue of $653.00 million for the quarter, compared to analysts’ expectations of $662.48 million. On average, research analysts forecast that Grab Holdings Limited will post -0.01 earnings per share for the current fiscal 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.