Grab Holdings Limited $GRAB Holdings Boosted by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in shares of Grab Holdings Limited (NASDAQ:GRAB) by 13.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 24,289,581 shares of the company’s stock after acquiring an additional 2,867,458 shares during the period. Principal Financial Group Inc.’s holdings in Grab were worth $91,572,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Grab in the fourth quarter worth $161,484,000. PointState Capital LP raised its position in Grab by 411.1% during the fourth quarter. PointState Capital LP now owns 32,555,483 shares of the company’s stock valued at $162,452,000 after buying an additional 26,186,329 shares during the period. Marshall Wace LLP raised its position in Grab by 49.2% during the fourth quarter. Marshall Wace LLP now owns 72,453,397 shares of the company’s stock valued at $361,542,000 after buying an additional 23,891,108 shares during the period. Assenagon Asset Management S.A. lifted its stake in Grab by 58.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 54,906,371 shares of the company’s stock worth $200,957,000 after acquiring an additional 20,152,535 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Grab by 24.9% in the 3rd quarter. Invesco Ltd. now owns 79,797,848 shares of the company’s stock worth $480,383,000 after acquiring an additional 15,916,063 shares in the last quarter. Hedge funds and other institutional investors own 55.52% of the company’s stock.

Grab Price Performance

Shares of NASDAQ:GRAB opened at $3.62 on Friday. The company has a current ratio of 1.52, a quick ratio of 1.51 and a debt-to-equity ratio of 0.06. Grab Holdings Limited has a 1 year low of $3.18 and a 1 year high of $6.62. The business has a fifty day simple moving average of $3.60 and a 200 day simple moving average of $3.79. The firm has a market cap of $14.83 billion, a price-to-earnings ratio of 60.34, a P/E/G ratio of 0.97 and a beta of 0.89.

Grab (NASDAQ:GRAB) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. Grab had a return on equity of 8.83% and a net margin of 15.97%.The firm had revenue of $997.00 million during the quarter, compared to analysts’ expectations of $994.97 million. As a group, sell-side analysts predict that Grab Holdings Limited will post 0.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. China Renaissance upgraded Grab from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research report on Wednesday, May 6th. Barclays reduced their price target on shares of Grab from $7.00 to $5.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. Weiss Ratings restated a “hold (c-)” rating on shares of Grab in a report on Monday, August 3rd. JPMorgan Chase & Co. decreased their price target on shares of Grab from $5.90 to $5.80 and set an “overweight” rating for the company in a report on Tuesday, May 5th. Finally, Zacks Research raised shares of Grab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $6.01.

Insider Activity at Grab

In other news, insider Philipp Wolfgang Josef Kandal sold 30,000 shares of Grab stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $3.53, for a total transaction of $105,900.00. Following the completion of the sale, the insider directly owned 4,065,430 shares in the company, valued at $14,350,967.90. The trade was a 0.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Peter Henry Oey sold 50,000 shares of Grab stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $3.53, for a total value of $176,500.00. Following the sale, the chief financial officer owned 6,950,165 shares of the company’s stock, valued at approximately $24,534,082.45. This represents a 0.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,586,093 shares of company stock worth $5,780,881. 3.60% of the stock is currently owned by corporate insiders.

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.