Principal Financial Group Inc. Has $540,000 Stock Holdings in Grab Holdings Limited (NASDAQ:GRAB)

Principal Financial Group Inc. reduced its position in Grab Holdings Limited (NASDAQ:GRAB) by 1.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 142,188 shares of the company’s stock after selling 2,461 shares during the period. Principal Financial Group Inc.’s holdings in Grab were worth $540,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of GRAB. Empowered Funds LLC grew its stake in Grab by 7.7% in the 3rd quarter. Empowered Funds LLC now owns 43,788 shares of the company’s stock valued at $166,000 after buying an additional 3,147 shares during the last quarter. Blue Trust Inc. increased its position in Grab by 53.6% during the 3rd 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. Dorsey & Whitney Trust CO LLC boosted its holdings in Grab by 37.0% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 14,061 shares of the company’s stock valued at $50,000 after purchasing an additional 3,795 shares during the period. Asset Management One Co. Ltd. grew its position in shares of Grab by 0.5% during the 3rd quarter. Asset Management One Co. Ltd. now owns 776,458 shares of the company’s stock worth $2,951,000 after purchasing an additional 3,941 shares in the last quarter. Finally, First Trust Direct Indexing L.P. raised its holdings in Grab by 34.5% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 18,435 shares of the company’s stock valued at $70,000 after acquiring an additional 4,725 shares in the last quarter. Institutional investors own 55.52% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on GRAB shares. China Renaissance lowered Grab from a “buy” rating to a “hold” rating and set a $5.40 target price on the stock. in a report on Thursday, November 21st. Mizuho upped their price objective on Grab from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Bank of America cut Grab from a “buy” rating to an “underperform” rating and set a $4.90 target price on the stock. in a research report on Friday, November 22nd. Benchmark reaffirmed a “buy” rating and set a $6.00 price target on shares of Grab in a report on Tuesday, November 12th. Finally, HSBC downgraded shares of Grab from a “buy” rating to a “hold” rating and increased their price objective for the company from $4.25 to $5.50 in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $5.53.

Grab Trading Up 1.5 %

Shares of GRAB stock opened at $4.81 on Monday. The company has a 50-day simple moving average of $4.87 and a two-hundred day simple moving average of $3.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.67 and a current ratio of 2.70. Grab Holdings Limited has a 52-week low of $2.90 and a 52-week high of $5.72. The company has a market capitalization of $19.37 billion, a price-to-earnings ratio of -240.50 and a beta of 0.90.

Grab (NASDAQ:GRAB) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.01 earnings per share for the quarter. The business had revenue of $716.00 million during the quarter, compared to analyst estimates of $705.40 million. Grab had a negative return on equity of 1.50% and a negative net margin of 3.57%. During the same period in the prior year, the company earned ($0.02) earnings per share. Research analysts anticipate that Grab Holdings Limited will post -0.03 EPS for the current fiscal year.

Grab Company Profile

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.