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

Principal Financial Group Inc. cut its holdings in Grab Holdings Limited (NASDAQ:GRAB) by 1.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Allspring Global Investments Holdings LLC increased its stake in shares of Grab by 18.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 20,243,162 shares of the company’s stock valued at $76,924,000 after purchasing an additional 3,163,309 shares in the last quarter. Cohen Capital Management Inc. bought a new position in Grab during the 3rd quarter valued at approximately $1,723,000. Toronto Dominion Bank raised its stake in Grab by 43.4% during the second quarter. Toronto Dominion Bank now owns 5,137,591 shares of the company’s stock valued at $18,238,000 after buying an additional 1,555,579 shares during the last quarter. Public Sector Pension Investment Board grew its stake in shares of Grab by 17.8% in the second 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 during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Grab by 30.1% during the second 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 in the last quarter. 55.52% of the stock is currently owned by institutional investors.

Grab Stock Down 10.6 %

Grab stock opened at $5.07 on Monday. The stock has a market cap of $20.42 billion, a PE ratio of -253.50 and a beta of 0.81. 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 stock has a fifty day moving average of $4.09 and a 200 day moving average of $3.68. Grab Holdings Limited has a one year low of $2.90 and a one year high of $5.72.

Grab (NASDAQ:GRAB) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $705.40 million. During the same quarter in the prior year, the business earned ($0.02) EPS. As a group, sell-side analysts predict that Grab Holdings Limited will post -0.03 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GRAB. Benchmark reiterated a “buy” rating and issued a $6.00 price target on shares of Grab in a research note on Tuesday, November 12th. 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. China Renaissance lowered shares of Grab from a “buy” rating to a “hold” rating and set a $5.40 price objective for the company. in a report on Thursday. Daiwa Capital Markets assumed coverage on Grab in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $4.60 target price on the stock. Finally, JPMorgan Chase & Co. lifted their target price on Grab from $5.00 to $5.70 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $5.42.

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.