Grab Holdings Limited $GRAB Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in Grab Holdings Limited (NASDAQ:GRAB) by 68.3% in the third quarter, HoldingsChannel reports. The fund owned 10,220,905 shares of the company’s stock after acquiring an additional 4,149,040 shares during the quarter. Principal Financial Group Inc.’s holdings in Grab were worth $61,530,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GRAB. Miracle Mile Advisors LLC increased its stake in shares of Grab by 6.4% in the 3rd quarter. Miracle Mile Advisors LLC now owns 33,290 shares of the company’s stock valued at $200,000 after purchasing an additional 2,007 shares in the last quarter. Centurion Wealth Management LLC grew its holdings in Grab by 4.4% in the third quarter. Centurion Wealth Management LLC now owns 48,764 shares of the company’s stock valued at $294,000 after purchasing an additional 2,049 shares during the period. Pitcairn Co. increased its position in shares of Grab by 11.0% in the second quarter. Pitcairn Co. now owns 20,964 shares of the company’s stock valued at $105,000 after buying an additional 2,080 shares in the last quarter. Leibman Financial Services Inc. increased its position in shares of Grab by 1.0% in the third quarter. Leibman Financial Services Inc. now owns 223,884 shares of the company’s stock valued at $1,348,000 after buying an additional 2,141 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of Grab by 7.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 32,099 shares of the company’s stock worth $161,000 after buying an additional 2,300 shares during the period. 55.52% of the stock is owned by hedge funds and other institutional investors.

Grab Price Performance

Grab stock opened at $4.27 on Wednesday. The company has a fifty day simple moving average of $4.91 and a 200-day simple moving average of $5.32. The firm has a market capitalization of $17.20 billion, a price-to-earnings ratio of 106.78 and a beta of 0.92. The company has a quick ratio of 1.81, a current ratio of 1.83 and a debt-to-equity ratio of 0.05. Grab Holdings Limited has a 52-week low of $3.36 and a 52-week high of $6.62.

Grab (NASDAQ:GRAB) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.02). Grab had a return on equity of 1.91% and a net margin of 3.81%.The business had revenue of $873.00 million during the quarter, compared to analysts’ expectations of $870.44 million. On average, equities analysts anticipate that Grab Holdings Limited will post 0.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GRAB has been the topic of a number of research analyst reports. Barclays lifted their price target on shares of Grab from $6.50 to $7.00 and gave the company an “overweight” rating in a research note on Tuesday, November 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Grab in a research report on Thursday, January 22nd. Sanford C. Bernstein reissued an “outperform” rating and set a $5.80 target price on shares of Grab in a research note on Monday, January 26th. HSBC upgraded shares of Grab from a “hold” rating to a “buy” rating and set a $6.20 price target for the company in a research report on Friday, January 16th. Finally, Benchmark lifted their price objective on Grab from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Grab presently has an average rating of “Buy” and an average price target of $6.47.

Grab Company Profile

Grab Holdings Inc is a Singapore-based technology company that operates a consumer-facing “super app” across Southeast Asia offering services spanning ride-hailing, food and package delivery, and digital payments. Its platform connects consumers, drivers, merchants and delivery partners through mobile applications and supports on-demand mobility (taxi and private car), last-mile logistics, and on-demand food delivery under brands such as GrabFood and GrabExpress. The company has also developed a merchant-facing ecosystem that supports ordering, payment acceptance and loyalty functions.

Beyond transportation and delivery, Grab has expanded into financial services through Grab Financial Group, which provides digital payments via GrabPay, consumer lending, insurance distribution and small-business financial solutions.