Grab Holdings Limited (NASDAQ:GRAB) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in shares of Grab Holdings Limited (NASDAQ:GRAB) by 4,125.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,008,267 shares of the company’s stock after purchasing an additional 5,866,079 shares during the quarter. Principal Financial Group Inc. owned 0.15% of Grab worth $28,359,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in shares of Grab by 13.4% during the third quarter. Wellington Management Group LLP now owns 124,314,286 shares of the company’s stock worth $472,394,000 after purchasing an additional 14,671,388 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of Grab by 10.0% during the fourth quarter. Baillie Gifford & Co. now owns 47,021,709 shares of the company’s stock worth $221,942,000 after purchasing an additional 4,259,537 shares during the period. Perpetual Ltd acquired a new stake in shares of Grab during the fourth quarter worth about $213,177,000. State Street Corp raised its position in Grab by 2.3% during the third quarter. State Street Corp now owns 43,570,388 shares of the company’s stock valued at $165,567,000 after acquiring an additional 967,233 shares in the last quarter. Finally, Coronation Fund Managers Ltd. raised its position in Grab by 11.4% during the third quarter. Coronation Fund Managers Ltd. now owns 33,735,725 shares of the company’s stock valued at $128,196,000 after acquiring an additional 3,442,581 shares in the last quarter. Institutional investors and hedge funds own 55.52% of the company’s stock.

Wall Street Analyst Weigh In

GRAB has been the subject of several recent research reports. HSBC upgraded Grab from a “hold” rating to a “buy” rating and reduced their price target for the company from $5.50 to $5.45 in a research report on Tuesday, February 4th. Evercore ISI lifted their price target on Grab from $7.00 to $8.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Barclays lifted their price target on Grab from $5.50 to $6.50 and gave the company an “overweight” rating in a research report on Thursday. Citigroup reiterated a “buy” rating on shares of Grab in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. upgraded Grab from a “neutral” rating to an “overweight” rating and set a $5.60 price target for the company in a research report on Friday. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $5.62.

Grab Stock Performance

Shares of NASDAQ:GRAB opened at $4.90 on Friday. The business’s 50 day moving average price is $4.76 and its 200-day moving average price is $4.29. The firm has a market capitalization of $19.73 billion, a PE ratio of -245.00, a P/E/G ratio of 2.26 and a beta of 0.90. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.67. Grab Holdings Limited has a 1 year low of $2.98 and a 1 year high of $5.72.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. The company had revenue of $764.00 million for the quarter, compared to analyst estimates of $762.57 million. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. As a group, equities research analysts expect that Grab Holdings Limited will post 0.05 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.