Principal Financial Group Inc. Increases Stake in Grab Holdings Limited (NASDAQ:GRAB)

Principal Financial Group Inc. raised its holdings in Grab Holdings Limited (NASDAQ:GRAB - Free Report) by 4,125.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,008,267 shares of the company's stock after purchasing an additional 5,866,079 shares during the period. Principal Financial Group Inc. owned about 0.15% of Grab worth $28,359,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Blue Trust Inc. boosted its position in shares of Grab by 53.6% during the third 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. Traynor Capital Management Inc. acquired a new position in Grab during the 3rd quarter worth $41,000. SeaBridge Investment Advisors LLC acquired a new position in shares of Grab during the fourth quarter valued at $48,000. Glenmede Trust Co. NA bought a new stake in shares of Grab during the third quarter valued at about $53,000. Finally, Baldwin Wealth Partners LLC MA acquired a new stake in Grab in the fourth quarter worth about $67,000. Institutional investors own 55.52% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GRAB. Bank of America upgraded Grab from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $4.90 to $5.10 in a research report on Tuesday, January 7th. HSBC upgraded shares of Grab from a "hold" rating to a "buy" rating and cut their target price for the stock from $5.50 to $5.45 in a research report on Tuesday, February 4th. Citigroup restated a "buy" rating on shares of Grab in a report on Tuesday, February 4th. Hsbc Global Res raised shares of Grab from a "hold" rating to a "strong-buy" rating 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 target price for the company in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $5.62.

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Grab Stock Performance

Shares of NASDAQ GRAB traded up $0.25 during mid-day trading on Wednesday, hitting $4.81. The company had a trading volume of 15,527,558 shares, compared to its average volume of 35,870,648. The stock's 50-day moving average price is $4.75 and its 200-day moving average price is $4.31. The company has a market capitalization of $19.35 billion, a price-to-earnings ratio of -241.25, a P/E/G ratio of 2.26 and a beta of 0.90. The company has a current ratio of 2.70, a quick ratio of 2.67 and a debt-to-equity ratio of 0.04. Grab Holdings Limited has a 1 year low of $2.98 and a 1 year high of $5.72.

Grab (NASDAQ:GRAB - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.01. The firm had revenue of $764.00 million for the quarter, compared to analysts' expectations of $762.57 million. Grab had a negative return on equity of 1.63% and a negative net margin of 3.72%. On average, sell-side analysts forecast that Grab Holdings Limited will post 0.05 earnings per share for the current 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.